All Forum Posts by: Sam Singh

Awesome! truely inspirational... I am a in the same boat myself and have been a passive investor in rentals myself besides a full time job which pays good, but i dont want to be an employee all my life as well... Can you share some of financing tips on how to max on net income... I am handy and do most of my rental maintenance myself... but with mortgagues on rentals, financial freedom just seems to be too far away!

Hi, Has anyone used any protfolio lenders in Indiana (central and north)? I have reached the max 4 rental property threshold beyond which conventional lenders are just not effective anymore... I am looking to grow my rental protfolio under my LLC and also want to refinance my existing rental under my LLC and move them off my personal name...

@Jane S. thanks!!

@Dan H. thanks!!

Thanks alot everyone! I got my answer... Thanks for sharing your wisdom!!!

@Bjorn thanks for your response. This guy did a showing of my property through my PM and mentioned all this prior to submitting his application, so i thought he may be legit, but interesting to know that you have come accross such situation in past... thanks for sharing!!

I have a potential tenant who is interested in my rental property... It is a guy that suffered an accident, but received a large settlement. At the same time, there was a window where he was unable to work and his credit took a big hit from unpaid bills. He is recovering from that credit wise, but he said it has caused a big drop. He is now able to go back to work and anticipates having a job soon. For the meantime, he would be willing to pay 12 months up front to cover the first lease term... and then, may be i could do some sort of requalification for renewal that would entail income verification/new credit run, etc..

While the offer of 12 months payment upfront seems tempting, i am worried on worse case after 12 months if he does not qualify, get a job, abd chose to not move out...

Anyone delt with such situation before or have expert opinion on such cases???

Thanks!!!!

@Jeremy Hart yes.

How do we setup tenants for auto payments of rents? Also, I came across this "free" online ser ice called Cozy Services... has anyone used it and have good or bad experiences??

@Sierra Sabo I agree with Alex. This is never a good situation.. what you can do is to work with her and tell her that she is equally laible and has singed a legal document that can be held in court of law... she should just pay her part of the lease value to get out... i would consider giving her some relaxation on payment to motivate her to pay, rather than going into a legal battle... then you can renegotiate with the other tenant if he is still staying there... eviction of course is the last resort and yiu can do it since one of the tenants have brwached the lease, which legally puts both ofvthem at breach, but eviction process is rarely landlord friendly and some tenants know this already... Good luck with this and keep us posted on what was the outcome...