All Forum Posts by: Robert Beardsley

what keeps blowing my mind is all these people who keep posting about help with selecting a tenant then go one to say oh but they lied to be but they seem like great tenants. no they are horrible tenants they are lying to you before they even moved in. get a property manager please

shouldn't even be a question. if he is already telling you how to do your job and what he will and wont do. wait until. he movies in

beautiful area. depending on the prince, location and all the other important detail most definitely.  

you will got most people telling your crazy to pay cash. few years ago hell last year i would have told you that too. today after iv seen some houses go from 200k to 300k in less then a year i would say go head pay cash for the first few. yes your paying for cash flow up front and not making the same percent. but you will be in the best position for when things crash. this is coming from someone who is optimistic 95% of the time. but people went from spending 30-40 percent of there income on rent/mortgage to 50-60% no research  on that other then looking at rent and average mortgages around my area. buy cash. you currently save 13k a month it will take you no time to save up for a down payment on the next one. worst case you grow slower then others best case things crash and every one telling you your dumb will be begging to partner with you for your ability to take out loans when they cant.  

sorry when you said portland area i assumed portland it self. i think you are correct on being able to raise it to what ever you want within reason as long as they arnt on  lease then. i have never had section 8 but have had general assistance. so dont hold me to that. general assistance said i could raise to to there max.  

Portland main recently implemented some kind of rent control i would look into that. i think it was like 3 or 5% max.

@Dan Weber might be able to help. he made a post about it few months back

i think i read you said you had the budget for both. if so do both. you might be able to get it cheaper and if not at least you dont have to have work being done all the time. when ever i do things i try to fix as much as i can with in reason so that im not constantly having to manage things. get it done and then go back to relaxing 

looks like you let people talk you out of this property. in my opinion it wasnt a bad deal. your renter would have paid most of your mortgage. you would be living almost for free, traveling less which also saves you money. i had an offer to make 10k more a year recently but after adding in the gas, oil changes, tire wear and added potential for things to break on my care it came to over 7500 a year in expense for me.  you should have stuck with your guns. 

I would re list the unit if you find someone to move in before the move in date give them there money back if not then keep the deposit. the despot is really meant to make you whole. you could also deduct what ever it cost you to re-list it and then explain why you didnt give them back the full refund.

Get a Job, Borrow money from family or friends for down payment buy a multi and use the rental as income(75% of rent can normally be used). live in one unit and rent out the rooms you dont need then rent out the other units. simple steps banks normally want two years of work history. also talk to enders about first time home owner programs.