All Forum Posts by: RJ Dixon

@Jerrel Jones

Sandwich lease it.

give the seller cash 15k and for asking 163k

Put it under contract for 5-7 years

Give seller a per month rent until it’s sold.

You can get paid 3 ways.

Find a tenant rent to own

Deposit non- refundable

15k-20k a little high but I don’t know your market so possible 5k profit

The spread between the rent from your tenant and the seller 200-500 possible

Selling price 235k selling at a premium.

Win/win/win

@Joy Jones

For 203k loans You can't do the work yourself. You being a licensed contractor I still think you have to get approved by FHA. The process for 203k I heard is long never done one.Hard money is also expensive but it's all in the numbers. It might come down to You have to pay someone else for 203K loan or Hard money lender where you can do the work your self but has to be fast enough so you can refinance or sell out of the property.

@Kelly Scheer

Go owner occupied 3% down and house hack.

@Molly Morlino

I think the court would find it funny if you tried to evict somebody for smoking outside. I don’t know how you have your lease set up or the laws in your state but you can always schedule a walk-through and see if smoke damage has incurred inside the property. You can always wait until the tenant moves out and if you found evidence the tenant has been smoking inside you can keep the security deposit and I always take them to small claims court if the security does not cover it.

@Khory Minor

Screening is super important. I did not do a good job on my first tenants and it was a terrible experience. After that I have learned slowly but great screening will do you great business.

https://www.biggerpockets.com/blog/2013/01/27/tenant-screening/

@David Asche

Buy it then Cash out refinance.

@Patrick Foley

Just go for it.

@Johnathan Cody

My Rents are excepted through Zelle and Venmo both clean online apps. Venmo you can use a credit card to pay which Can be debated both good and bad but it’s a way to build credit.

@Ronnie Hutchinson

Your pictures are not the best. You don’t need a lot of photos let the renter wonder a little. I don’t know your area but price. If you didn’t I would post it more places Then just Zillow if you haven’t already. More exposure is always better you can also put a for rent sign in your front yard.

@Spenser Harding

Closing cost were 15k. They needed a escrow hold back of 20k for roofing work. Which was only 13k. I tried to owner finance it but it was already on owner financing. The deal was a mess. I ended up chopping the 10k and received 5k back.