All Forum Posts by: Rocky V.

My current thoughts are - If I ever get tired of being a landlord I will owner finance properties with at least 20% down (currently hold only 2 notes).  Your exit strategy just depends on your situation.  If you are needing a large sum of money to reinvest or just wanting out of LL and can still use the monthly cash flow. 

Awesome!!  I think one of the biggest reasons most financial advisors don't recommend real estate as an active investment vehicle is there is no money in it for them.  Unfortunately, there is just to much money involved in the stock market and GREED controls most people.   I ramped up my rentals since 2010 and could not be happier. 

Best of Luck!!

It's a legit scam.  I'd stay away.  Everything you need to learn is here on BP just need to take the time to sort everything out.  Get to know some active real estate investors in your area and network/network/network.  Best of Luck!!

As long as that invoice is null & void if end buyer does not perform I do not see a problem with it.   You could not get this closed so you can either lose the deal altogether or still make a little money.  The choice is yours.

I'd let them know that you will be informing Section 8 dept. of their failure to make payments.  Sect 8 can kick them off the program for this and also for not complying with landlords request of move out.  Hopefully, this will light a fire under their butts and get them moving.  Otherwise, start eviction proceedings immediately for failure to pay rent.

Like Samantha mentioned wait for those special offers or heck just give them a call and see what they can offer.  You will be surprised.  I am still using CC money at 0% for up to a year (I do pay the 4% initial fee).  Just make sure all is paid back before the interest changes.

I'd go with vinyl plank flooring or the 12 mm laminate.  Stay away from 7 and 8 mm laminate, these are easily damaged.  When I first started rentals I would go with the cheapest stuff around and learned to regret it only a couple years later.

NO, NO, NO!  Run away from this.  Meet a local lender or someone referred by another investor who has actually done deals with the lender.

@Judy Rae  That is the advise I gave them.

Who do you recommend for collecting payments on vacation rentals?

Asking this question on behalf of a friend (I do not own any vacation rentals).  He owns a vacation rental in North Texas.  He recently rented to someone who paid using PayPal.  He has always used this method with no trouble.  The tenant used the lake house vacation rental then disputed the charge to PayPal stating that they never authorized the charge.  PayPal quickly refunded their money even though landlord provided text, emails and photos (they actually trashed the place, had a major party and even had police called out - that's another story).   I have never used PayPal for rent payments so could not offer him any suggestions.  Looking for the great minds of BP to help another fellow landlord out and get what is rightfully theirs.  How can Landlord get his money back from PayPal?