All Forum Posts by: Tim Booz

I've heard all of the same circumstances mentioned here. Additionally, even if the assistance lasts for the entire term, I'd be skeptical that the tenant would be able to go from paying $0 to $x amount just like that. 

I can't speak to specifics in Virginia, as I'm from NJ, but here the penalties for taking more than the max are strict and specific, so it's not worth the risk.

Would it be possible to have her pay the rent 1 month in advance for the whole term?

"We use only the highest quality thread and vinyl to patch the tents rented in the back yard. AND, the broken windows offer great ventilation, and act as makeshift pet doors for the stray cats." 

Realistically, if you want to debate them you could always show them some pictures, or explain the area. If it's a blue collar area it's more than likely there are some slumlords, and  it sounds like your places are better kept. I think there's a certain honor in giving people a nice, clean place to live when many of the other options are lesser choices.

Owning 6 units at 30 is no small feat, congrats!

I agree with Corey, it's definitely important to qualify the sellers before meeting them to see if they're realistic. They could have a property that makes incredible sense, but only looking to see if they can get a high price. - On the other side, the numbers for the deal could look iffy, and after speaking with them they may really need to sell, and be willing to work with you on better terms, or sell for less than they actually stated up front or in an ad posted.

Finding an agent that is full time, and not in the business for extra income, supplemented retirement, or just for fun is important as well. I'm sure there are some great part timers, but I think I'd rather have someone who's depending on the outcome of the deal(If I weren't licensed.)

Hey Joel ---Is the buyers agent pawning their client off on the listing agent a common issue? I've never experienced it in my area.

I dealt with a case that the agent wanted a substantial amount of $ tied up with the hopes that it would limit them from shopping around for another property. It was set up so the buyer could not back out until the bank responded without losing her $ - just over 12k. We ran for the hills, but eventually someone took the bait, as it's no longer on the market.

In conversation it's come up that the avg mailing yields 2% - I'm sure it varies by industry and what's being promoted...any ideas what an avg could be for this type of mailing?