All Forum Posts by: Ryan Spath

This is definitely a tough one. If you haven’t been raising rents annually, a sudden increase could be hard for the tenant to absorb. That said, if the market supports a rent bump, it’s worth considering.

From what you’ve shared, it sounds like you’re already getting market rent—and more importantly, you have a great tenant who pays on time. That’s huge. Have you done a recent walkthrough to check on the condition of the interior? That might help justify any increase, even a small one.

Also, think about the cost of turnover. If the tenant decides not to renew, how much time and money would it take to prep the unit and find a new tenant just to gain an extra $100/month? Sometimes that trade-off isn’t worth it.

With all that in mind, a modest increase—say $25 to $35/month—is unlikely to push a good tenant out and still helps offset rising costs on your end.

@David Fals I'm not a lender, but looking at this it seems high to me also.

• Points (1.5%): At $2,146, that's roughly 1.5% of the loan, which is a bit high unless it's to buy down the rate—though 7.625% is not a bought-down rate in today’s market (as of May 2025).

• Loan Origination Fees ($1,490): Slightly high but not unheard of.

• Transfer Tax ($4,747): This is very state/county-specific and very high relative to purchase price (~2.5%). If you’re in a high-transfer-tax area (like parts of Pennsylvania or Florida), it’s plausible. Elsewhere, it’s worth reviewing.

In total, 3–5% of the purchase price is considered average for closing costs. For your $189,900 home:

• 3% = ~$5,700

• 5% = ~$9,500

You're well above that—likely due to:

• High transfer tax

• Points

• Possibly lender buffer reserves

• I would definitely shop this loan, often times when a lender is working to earn business via competition the fees/rates can get better. Consider trying a local credit union and a mortgage broker.

@Maranda Tucker amazing! Thank you for the feedback. I really appreciate it. 

First off, thank you both for your service—it’s awesome to see Veterans stepping into the real estate space!

Education is one of the most important parts of getting started. Before jumping in, taking the time to build a strong foundation can save you from costly mistakes and set you up for long-term success.

Start by reading some of the top books recommended by BiggerPockets—they have great beginner-friendly guides on rental properties, house hacking, BRRRR, and even commercial investing. Their forums and podcast episodes are also goldmines of free, real-world insight.

Next, make it a priority to attend local real estate meetups. You'll learn what strategies are working in your area, make connections with other investors, and possibly find mentors willing to share their experience. Don’t underestimate how valuable those relationships can be.

Also, consider attending real estate seminars or workshops—both national events and local bootcamps. They can give you exposure to different investing strategies and help you narrow down your focus.

Starting an LLC is a good step, but don't let the structure overshadow the need to understand the game you're getting into. The clearer you are on your goals and the better educated you are, the easier it becomes to take action with confidence.

If you ever want book recommendations, help with analyzing a deal, or just someone to bounce ideas off, feel free to reach out. Wishing you both the best as you get started!

@Mason Stewart

Start by attending local real estate meetups and asking around for hard money lenders—these events are great places to build connections and get solid referrals.

Also, don’t overlook your own network. Think about your sphere—the people you interact with every day. Do they know you’re a real estate investor and that you can offer them an opportunity to earn double-digit returns backed by real estate? If not, it’s time to start letting them know. You might be surprised who’s interested once you start the conversation.

Lastly, reach out to your favorite title company. They often work with investors regularly and can point you toward individuals or groups who provide this kind of private or hard money lending.

Let me know how it goes or if you need help crafting your pitch to potential lenders!

@Branden Barber best of luck! Let us all know how it pans out. 

Thanks for your service!

If you haven't already, consider using your VA loan to purchase a 4-unit property. Run the numbers to find a deal where you can live for free by renting out the other units—or even other rooms in your own unit. The more discomfort you’re willing to take on now, the more comfort and financial freedom you’ll gain later.

Start attending local real estate meetups to get a feel for the market and learn what strategies are working for others in your area. Partner with an investor-friendly agent who understands house hacking and can guide you through the process.

Also, take the time to understand your state's landlord/tenant laws so you can self-manage the property. That’ll help you maximize cash flow and gain hands-on experience early on.

Best of luck—and don’t hesitate to reach out with any specific questions. Always happy to help!

Hey — congrats on getting to the finish line with your first rental! It sounds like you got a solid deal on the purchase, even with the appraisal coming in a bit lower than expected.

I’ve actually had something really similar happen with a property I bought in Florida. The appraiser came back with a low market rent estimate that didn’t reflect current conditions — especially after renovations. What we did was challenge the rent analysis by submitting stronger rental comps, along with a copy of the executed lease and deposit we had in hand. That made a big difference.

In our case, it worked — the lender accepted the updated info, and we were able to move forward and close the deal without putting in more cash.

Since you've already got a signed lease at $2,675 (well above the market rent they cited), that's a strong piece of evidence. I'd recommend gathering a few comps showing similar properties renting at or near that rate and sending them to your lender ASAP. Some DSCR lenders are open to reconsidering if you can clearly support the income being generated.

You’re not screwed at all — just a little curveball. You’ve got a good deal on your hands and a lease that supports it. Just might take a bit of back and forth to get it across the finish line.

@Michael K Gallagher great point. With tenant turner specifically they do have verification measure to ensure it isn't spam/scam. The cross reference the persons identity several ways, make them upload an ID. While I suspect nothing is perfect and this is a valid concern, on the call they mentioned items to make it seem secure. 

I had a call with a representative from Tenant Turner yesterday and wanted to share a quick summary of the service and pricing.

The monthly cost is $65, plus $5 per lockbox. Each lockbox must be purchased separately, ranging from $99 to $180. There’s also a one-time $19 fee to set up a local phone number.

You can also pause this service for the months you do not have vacancy.

Tenant Turner syndicates your listings across major rental websites and allows you to create custom pre-screening criteria. Once a prospective tenant meets those criteria, they are invited to schedule a tour. They can choose between an agent-led showing or a self-guided tour.

As the property owner, you can control the time windows during which the property is available for showings. For self-guided tours, prospects receive a unique access code that works within a specified time frame. After the showing, Tenant Turner automatically follows up with them to request feedback and provides a link to your rental application.

For those of you currently using Tenant Turner:

• Did I miss anything important?
• How do you like the self-guided tours?
• Have you experienced any pushback from prospects who prefer to meet someone on-site?
• Any other insights or feedback you can offer would be much appreciated!