All Forum Posts by: Stephen Jeffers

@Cameron Riley

As many have said if you have fair and equitable requirements you go with the first person qualified with a paid deposit.

You can always dismiss an applicant, WITHOUT any reason. If you give a reason you step into discrimination, it’s better to say nothing at all.

The reality is you may ‘thinkm you’re selecting the person who will pay but it’s a toss up any way, who knows what situation may occur to ever well qualified tenants making them unable to pay.

TL;DR create fair and equitable qualifications, use them across the board and whoever qualifies and pays deposit first gets the property. No other explanations required.

@Sam T. I’d be careful catering on replacement of functional things. If you do be sure to make her aware that this is an exception and not normal. OthwrwIse I‘d Try cleaning wIth some heavy duty cleaner and see how that goes. Aside from that if you have storage put it away for a rainy day or another unit and buy a clean used one. At some point the tenant accepted the condition of the property and everything in it. Allowing them to nit pick could start an unwanted trend at your expense.

Cash is always king, but sometimes you can arm a coupe against the king.  Overbidding is an option, but always subject to the appraisal.  Another way is to try and get to the buyer, whether you try and send a letter written by the potential seller or sell their desire to own.  Beware some agents won't give time a day to this, some will.  Also if you story is that you're trying to be an investor that story if considered is beatable by a home owner looking to secure for their family.

Especially after NBA2K19 gave such a raving review about Fort Wayne....lmao.

https://www.wishtv.com/news/indiana-news/some-not-amused-at-portrayal-of-ft-wayne-in-nba-2k19-/1436750542

@Christina Kim The question to stage is more art than science to me.  If you feel its difficult for buyers to understand your layout or to accentuate a flow or design I would definitely say yes.  If you have a typical layout and build I would be on the fence and then depending on price point and competition in the area.  I would at least stage for the your pictures.  Shoot me a DM and I'll give you a contact I have as well as discuss 3d walkthrough scanning I do that provides a 3d walkthrough AND your images at the price of most photographers.

@Adam Schmitt welcome Adam. I just jumped to the RE Investment side myself. You’re well on your way with two SFHs to learning the best way, experience. Make sure to come out to CIREIA, as a member you get free access to the Monthly Main Meeting held on the 1st Thursday of each month at the Broadmoor Country Club. https://www.cireia.org/

@Arianne L. ad @Chris Lemire congratulations!!!  Such and amazing story, it truly motivates me to realize the possibilities in the real estate investing, but what I love the most is that you come back to provide that motivation and to highlight the biggest idea of making relationships.  Relationships are more important than what you know, creating genuine relationships and fostering support among like minded individuals who help to push, pull and drag you to goals is lovely!  That's what I'm looking forward to!

@Jeff Sims looks like you've done awesome job with your investing!  I drive a 2003 Toyota Camry, but I also have a 2008 S550, Dave wouldn't be too excited about the later.

@Cisco Hood I like the advice of asking the title company attorney, I would imagine as they have been paid for their part in the transaction that you may get that advice without any further cost.  

I'd be leery about moving into LLC to try to qualify again for 3% down, as you likely will be the owner of the mortgage still doing a quit deed will only transfer the title not the fiduciary responsibility. As such I'd imagine it would still be on your credit and visible when making a new purchase. Depending on the qualifications for 3% down, usually owner occupied you'd have to somehow show you do not live there and have a tenant when purchasing the new property or have up to 25% downpayment required.

Of course not providing any legal advice.

@Seth Wilcock I live in Indy, the Emerson Heights area while an up and coming area, isn't Class A heavy, mid B and C's.  As such the insurance premium I would imagine may be due in part to your property age and location.