All Forum Posts by: Tom R.

Thanks for the advice. I advertised my house through turbo tenant and selected the picture order. I don't know why the trulia listing has the picture order differently. I thinned down the pictures to the best. I've been working on the yard which was over grown when I bought it. I made 4 trips to the dump with just yard waste. I plan to plant 2 trees with a couple bushes or something. Not a lot of landscaping being done in town now that we have designated watering days and times. 

I closed on my first investment property on the 6th this month. a couple of days later I listed it for rent. Since then Ive had dozens of calls but only 2 people have shown up for a tour of the property and 4 people have asked for an application. So far I have not received and applicants. https://www.trulia.com/rental/4036759641-534-Atkin...

I believe I have priced my house competitively. Mine is the cheapest 3 bedroom house available  between 900 and 1200 sq feet. The two major difference is mine has 1 bath and the others have 2 baths and across the street from my house is one of the many low income trailer parks in town.

On Zillow my house is tending in the top 10% in the area. On Trulia my house was the most viewed in the last week and its a best value.

I want to assume its just my local market but I am getting nervous. The average listing of similar homes is 32 days old with the oldest being 95. My listing is only 20 days old.  

Perhaps my qualifications are too tough for my market. these are the qualifications I share with my callers.

550 credit score 

no evictions

no recent criminal history

and 3* monthly rent in gross income

You don't have to have a legal business name, licence or LLC to have a business. Any expense associated with real estate investing is a business expense driving for dollars included.

https://www.irs.gov/pub/irs-pdf/i1040se.pdf

see line 6 for rules on deducting travel expenses.

 No you may not. Wow that was easy.

If Trump succeeds in his quest to start a nuclear war with North Korea it wont be like any other war we've fought. We will see heavy civilian casualties and extensive damage. But its not worth worrying about. People will still need a place to live. There is little chance your insurance will cover damage due to the war unfortunately but there is nothing you can do about it so why worry.

 The key word is ask. Most people asking have no idea of the time and money spent acquiring these things. And you dont have to provide these things just because they ask .

I personally would use the money to buy more investment properties. My business model has me buying $100k sfr's with 12% or better ConC returns. In 10 years I hope to buy around 20 properties or more. At that point I would be bringing in at least $6k a month in passive income. That's a lot more than I would make by paying off my mortgage early.

So a landlord can enter the residence without permission with a legal notice.

I've called my prospects. One said the bread winner of the family passed away one decided the house was out of her budget and the others didn't answer the phone. I have also updated the listing. I cant show the kitchen which is a big seller without showing the area where the fridge would be so I took a picture of a fridge wrote on it that a fridge can be provided if needed. We will see if that has an effect.