All Forum Posts by: Sergio Garcia

Renegotiate the deal to cover the lack of security deposits...

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Is that not a lease with the option to buy? Which they pay you addition to the monthly rent.

I have SFR properties and I do the initial pest control which is good for 6 months. Aftewards it's up to the tenants to continue the pest control or hire a professional. I leave the home pest free for the tenants. I have it worded in the lease.

I do mostly Buy and Hold purchases. I'll do a flip if I'm not interested in the neighborhood where the house is located. But at the end of the day it's Buy and Hold.

Have a him fill out a rental application, have him pay for the background check. If he's serious about renting your property he shouldn't have a problem paying for it.

Our first house was back in the 1987 which the homeowner was 6 months behind in his payments. I did a Quit Claim Deed and got the mortgage up to date. That was my starter home which today I still own and rent out. When that opportunity came around I was living with my in laws and saving every pay check to buy my first house.

Now on my second home purchase I and my wife each worked 2 jobs for 1 year to save money to buy our home and pay off our credits. What I'm trying to say is you have to work if it means getting a second job, or move in with your parents or in laws to keep your expenses low. You got to save money for the down payment. FHA is the way to go as you don't need as much for the down payment versus conventional loan that requires 20% - 25%.

Good Luck.

Did you do backgrounds check on them before sending them the signed lease? I might be wrong but I wouldn't have sent them a signed lease. I would have sent them the lease with an expiration date when it would  become void if not received by the due date. Once I recieved the signed lease then I would have sign it and then sent them a copy. Try contacting there friend that came over to see the house. Give them till the end of the week. They may have gotten cold feet.

I prefer to have face to face dialogue with the future tenants then blindly go into a lease agreement with someone I never met. It's just me. Good Luck.

Background checks on every individual over 18 years of age going to live at my rental property. Background checks prior to lease signing and during course of the lease if someone else moves in with my current tenants.

Gutters I would clean them out myself. I would consider part of my maintenance of my rental.

Defintely fix the rotten windows, if the hole in the tub small enough I would use epoxy to repair it. The breaker is fine were its at unless you got a problem with the breakers tripping then it needs to be address. Unless you're selling it do the cosmetics and rent it out.