All Forum Posts by: Terre B.

In 6 months, double the rent.  Make it so unattractive for them to stay they can't wait to leave.  

What about offering it as a lease option?  Give someone a 2 year lease, at $800 a month, with an option to buy at say $60K i 24 months with a credit of part rent towards down?

It's on them to ensure it appraises at $60K.

Its how I bought my first house.  

Start of what?

Unless the house is brand new, there should be a history of the water bill.  If this group of tenants moved in 5 years ago, compare the gallonage of water used  with what was used before they arrived.  Water companies will go back further.  The USGS estimates that the average person uses 80 - 100 gallons of water per day.  Granted, they never met my teenage daughters when provided with a 100 gallon hot water heater...

I'd contact the water company, and do some comparison of water usage for the same times over several years...

More people = more flushes, more showers, more everything. 

I had wondered if there was something I could do with it.  Debated taking the risk of making some improvements while I'm in it....flooring, paint, etc. and trying to house hack it, but didn't think the margin was there.   I hadn't thought about selling the option.  

No, unfortunately we do not qualify for a VA loan. Ideally, looking for something like the Bank of America 3% down, but not sure if that will combine with a down payment grant. If not, then FHA/CHFA using the 75% rental income to help qualify?

Or am I being totally unrealistic?

Yes, Kevin, lots of twists and turns.  Much like my husband always said...I'm difficult.  LOL.  

However, I do think, thanks to BP, I have found a realtor who understands where I am coming from and where I'd like to go, and may be able to point me in the right direction.

Drew, maybe I misunderstood your qustion, but if you are looking at Medical Office Buildings, I have some contacts in the MOB field here in Denver, if you would like I can put you in touch with a company that manages a number of smaller MOBs both here and in other states.  

You know how everyone on those cute little shows always want everything "updated"?  Putrid pink aside, would a better color help you attract a higher quality tenant as just opposed to a rent increase?  

I just have this mental picture of young renters, and being pregnant and nauseous in that bathroom...

Thanks for the reply, Chris. I can't do a SFR and rent rooms.

We rented a room to a young man who was a student at EcoTech in 2012.  He attacked my husband, resulting in a broken neck and skull fracture.  I can't blame my husband for now insisting that our space be ours. It's been a challenge getting him in on the duplex plan. 

What do you think of 3415 S Canosa Ct?