All Forum Posts by: Trevor K.

@Brandon Hall It doesn't hurt to try. If you are motivated, and work hard, somebody may give you a chance to prove yourself. You mentioned that your parents have rentals. Have you asked them to let you lease/manage one? I know in Illinois you only need a RE license if you are being paid for management. You can gain experience in that way.

I don't want to discourage you to get started, but you need to be pragmatic. Write a business plan. Even if just for the practice. It will probably open your eyes to some things you had not though of yet.

I bought my first house at 22, so I know how some people will treat you because of your age, and it can be frustrating.

@Brandon Hall An investor is going to want the best person possible to get his unit rented. Every day that an apartment sits empty, it is costing the investor money. If you charge less, I'm sure you will get some business. You will also have to do more volume to make enough money to live.

Most investors will also want the person leasing the unit to also manage it. Experience, and reputation are going to be important to somebody turning over control of their property to a manager.

I'm not saying you couldn't do it, but let me ask you. What do you offer that an established PM company doesn't? Why should an investor hire you?

You should probably begin by getting a job with an existing property management company to learn the business. I do not think many investors will want to hire a new company with no experience.

The outlets are not gfci.

Even if the children of different gender can't share a room, a child may share a room with a parent. So you could make an argument that a family of four can rent a 2 bed. Dad, and son in one bedroom, two daughters in the 2nd bed.

For what it's worth I couldn't care less who you rent to. I just do not want to be sued, and try to think of all the angles.

@Michael Seeker Ask your lawyer, but I'm pretty sure that that is discrimination.

If they meet your requirements to rent, why do you care?

Maybe the reason they want to live like this is that they DO have it together. There are many people who think it is dumb to spend $800/m on a 1 bedroom apartment when they can split $1000/m 4 ways on a two bedroom. People used to live like this when they were trying to save money. I would give them a chance over section 8 any day.

You could always find a short term renter, and fix/flip after the renter is out.

I agree with the above about 15 vs. 30. With interest rates low you won't save enough to make it worth it. You can always make the 15 year amortization payment amount on a 30 year loan, and if you never get cash strapped, you will be paid off in 15. If you run into lean times, you can just pay the normal payment for the 30.