All Forum Posts by: Vy Mai

Is it legal to host Airbnb in Lowell MA?  Do you need to obtain a permit to do so?

If my name is added to the deed, does it mean I'm responsible for the mortgage as well?  If the house is foreclosed, does it affect my credit? Any bad good possibilities out of this?

@Rick Hernandez hah, glad you agree.  Right now, I would just be happy to find good tenants once our current tenants move out. We just have a broker trying to rent it out and for 2 weeks, no progress yet. I'm geting antsy...

Rental income: $2000

PITI: $1512

Repairs & Capex reserves 10% = $200

Vacancy: 8%= $160

Net Monthly Cash flow = $128

Lessons learnt:

1. You can't depend on Rent zestimate from Zillow to determine your rental income. It lies.. At least it lied to me because I'm having a hard time renting it out at the price that my Zillow friend told me.

2. I thought my house will rent out within 2 weeks because it's a realllly short distance from the university. Nope. We are still looking for tenants.

I give up renting the house out by myself. I honestly didn't know they exist: the broker who rent the house out for you!!! I thought only PM does that. So please feel free to recommend any broker that you have worked with and absolutely love!!

Thanks BP members

You guys are really really awesome!! Thank you for all your inputs and advice. My husband lost sleep over this. He kept asking me every hour if the lady has replied back and he was sooo happy that she hasn't gotten back to us. THANK GOD AND BIGGERPOCKETS

Thanks all the helpful answers! I did ask the magic question " have you ever been evicted?" and she never got back to me... as of now. :)

I think she tried to brush off my questions so I for some reason missed asking this question. Will try to not do that again.

Are we legally allowed to ask what medications they are taking for their disability? I saw someone post that.

@Joe Splitrock Hi Joe, I wanted to ask you about your response. Is this just some kind of letter from the doctor or should we send a form to the doctor to fill out and return to us? I definitely like the input of having the direct communication with the doctor's office, but I also like the notarization from @Matthew Paul. Is there a way to combine?

Hi everyone,

We have a potential tenant interested with our property. Tenant informed us of receiving disability and did not inform us of having a pet dog. Tenant told us after meeting and looking at the house that they have an "Emotional Support Animal" being the dog. What documents are required and is there any way out of this? If not, what are the requirements for the ESA? We are just afraid that they were not honest with us in the beginning.

Thanks!