All Forum Posts by: Ali Samana

If you use the service mentioned above by Jon to screen, there is an option to have your tenets pay for them. If you use a different service, you can just charge them an application fee and that should cover the screening. Be sure to screen (ans charge) all of the people living in the house. Also make sure that college kids aren't letting their friends (who are not on the lease) stay at your place.

Hi Missia,

As investors we are always looking for deals. I just had my website made (signature tag), it is not templated. The company created a logo, designed the website and created a simple database. They did it all for $300.00 I would rather pay one time than have a recurring bill monthly (even if it is only 10-15 bucks)

The site that I used to get the company was Guru.com (thanks to a BP post). Check it out and you might like it.

Welcome Ibrahim. I am looking forward to seeing you around on this site.

Rich,

Great post. I learned alot from this.

Quick question, If a house is worth 150k, and has a mortgage of 100k on it. From what I had understood (I have never been to an auction) the bank would simply bet until the mortgage is paid off. That would mean the auction starts at 50k (perhaps) and if someone is bidding, the bank would continue bidding up to 100k because they already have that much invested in the house. Is that acurate? Any help would be appreciated.

Hi Jose,

Do you know if the seller will/not carry back a note? If the seller is motivated enough he might consider it.

From what I have read, changes are coming to the seller finance law. Check with an attorney for updates.

Jaime,

I just picked up a book by Richard Warren (a member) and the book has some great stories and lessons that he is willing to share. I also read alot, and many REI books today are not filled with much valuable infomration, just enough motivational stuff for you to buy more books or 'training'.

Richard's book seems to be on point with good and valuable informatoin.

Full Disclosure: No financial ties to the author/publisher etc.

I am very new to rentals. I was trying to find a website where I could collect rent online, have the members fill out an online application and do a BG/Credit Check (kind of like BP Smart Move).

Is there one website that does all 3? If not, what do you use for each.

Any help would be appreciated.

Hi Nick,

I am speaking from a very limited experience on this, but when I dealt with it 1 person was assigned as the executor. That person had the authority to make all of the decision etc.

Nick,

From what I understand, this house would have to go through the probate process to get a clear title on it. It doesn't sound like it has.

I would definately consult a real estate attorney before I put up any funds or made any commitments.

It is sad I have to turn to a comedian to make common sense out of a law:

http://www.thedailyshow.com/watch/mon-april-26-2010/law---border