All Forum Posts by: Samir T.

Hello,

Hope everyone is staying safe. I’m three months into renting out my first property. In those three months I’ve encountered numerous issues with the condo (leaking drain, Furnace repair, AC repair, and a few small issues). Some of the issues were costly.

It seems as though stuff comes up all the time

As needing to be fixed. We’ve taken care of it all, but going forward I wanted to see if there is something different that I can do to get ahead of these issues or should I just take it as it comes and get it fixed. Overall I kind of feel bad for the tenant because he’s been great and has paid on time. We did a thorough inspection when purchasing the condo and everything seemed fine, as far as we could tell.

Maybe this is all normal, but doesn’t hurt to get peoples thoughts on it.

Thanks

Hello everyone, Im still very new to real estate and wanted to get your thoughts on the following:

Currently I have a primary residence . It’s a 15 year loan and the payment is $1950. I could probably rent it out for about $2300 to $2500.

I’m also looking to relocate and wondering what everyone’s thoughts are on keeping and renting it as opposed to selling it. The caveat is that I won’t be able to do 20% down on the new residence and will have to pay for mortgage insurance. I’d probably do a conventional loan and put down 5%.

Has anyone done something similar? Is there anything else that I should consider?

Thanks!

@Nicole A. Thanks for the response. I guess I don’t know for sure about her income and credit score, that is just what she claims. We’ll find out once she does the application.

Hello everyone,

I got this from a potential renter: Before I purchase the credit and background check, I want to make sure that a bankruptcy two years ago won't disqualify me.

The renter meets the minimum credit score requirements and has income of more than 3 times the monthly rent amount. Everything else checks out. I’ll obviously call references and all that once I get the application.

What do you guys think?

@Wesley W. Thank you. This is great information, I’ll definitely use it as I go through this process.

Thanks for the responses.

Thank you, both for the replies. I appreciate the guidance.

Hello everyone.

I just bought my first investment property and have it listed for rent. I’m coming across a trend and wanted to see if it’s the norm for everyone.

On a daily basis, I’ll field questions about the rental or hear from interested parties wanting to tour the place, but eventually it goes no where. For example, yesterday an individual asked me to tour the place on Monday. I said sure and asked what time works best, and no response. This has been the case often. Is that normal? It has been happening all the time. Do you guys follow up with these individuals or just let it be. I haven’t been because I don’t want to chase them. If the want to see the place, they will...

Thank you.