All Forum Posts by: Sam White

Tim, 

Are you selling both homes as a package for $55k?

Charles, 

I acquired my first rental when I was 23.  My good friend did as well.  We took different approaches to land lording.  I was open with my tenant that I was the owner.  My friend owned a 4 plex in a rough neighborhood.  He never disclosed himself as the owner.  He represented himself as the property manager working for the owner.  

I wouldn't worry about respect when it comes to getting started.  However, I would encourage you to treat your tenants kindly and fairly, and they will hopefully have mutual respect for you. 

But it is a business, and like Jeff says, they violate the agreement, you must have the maturity to take them through the eviction process.  

Best of luck 

Sam 

I posted a similar post and got no replies.... very odd.  I figured this would be a hot topic for landlords considered it could force sec. 8 housing acceptance no matter where your properties are. 

I wanted to open this up for discussion among current landlords.  Have you read through the AFFH? Recently brought to slight attention in the media, although in the works for nearly 2 years.  I posted an NYT article below that touches on the emotional side of the issue, however, I am interested in discussing the legal, economical, and business related aspects of AFFH. 

http://www.nytimes.com/2015/08/09/us/a-year-after-...

their *

@Marlon Freeman yes they do portfolio loans. Good foresight.  It's exactly why I went with them. They're interest rate on my residential mortgage was slightly higher than another banks quote, but because they have the tools I need in the long run, I established the relationship. 

Looking for DFW duplexes. I already get the MLS reports, so this post is directed towards finding pocket deals. If you are selling any of your portfolio 2-4 unit properties, let me know!

Sam W 

Just a thought for your future owner occupant purchases. There is the option to pay off the PMI at closing. You avoid all interest on it this way. If you strategically close at the end of the month, you will get the tenant's deposit at closing and then your first rent check that week. Pay your PMI in full up front (mine was ~$2,500 and would have totaled nearly 8,000 paid until 80%LTV) then just pay yourself back with the cash at closing and first months rent.

The benefit of closing at the end of the month is you typically wouldnt have your first mortgage payment until over a month later and can recoop your funds.  

Hi Rina, 

I bought by Duplex with Southwest Bank.  They are headquartered in Fort Worth with about 12 branches in the surrounding county.  Small bank, specializing in real estate.  I give them 5 stars.  Lone stars that is. Go Texas!

Sam White