All Forum Posts by: Wilson Churchill

What is the benefit to renting to such a person? Virtually all other tenants that apply won't pose this risk.

 Of course the agent just wants the money. It is similar with land contracts: The agent takes the commission from the down payment. I do believe that agents sometimes list lease option properties, though I haven't seen any lately.

Carry a gun and/or knife and train to use it on a regular basis.

If the seller wants to do an option, the realtor can take their commission from the option amount. You should still get full credit for the option.

 27066? No, I haven't. I currently only own two in the city, one of which I live in. The others are in Pontiac, which some would argue should also be avoided. I am very familiar with the area though, so I pick out ones I believe are a good buy.

Where is the house located? I shy away from Detroit, because I am able to find similar prices in surrounding suburbs with greatly reduced risk of theft and vandalism. I have known people that invest in NW Detroit. As far as I know, the NW part is OK for investing. But I am not familiar with Detroit, and there are still low prices to be had in the surrounding suburbs if one looks for them.

If your student loan rate is 6.5%, then you need to receive a rate of return on the SFR investments that exceeds 6.5% to make the decision to invest. Of course returns can be calculated in any number of ways.

I can get a rate of return from investments higher than any debt I incur, so I always invest and make minimum payments, other than paying down a line of credit temporarily until enough cash is available for another investment.

Call every landlord having a "for rent" sign in your target market.

I should add that a respirator should ALWAYS be worn when dealing with mold. It can be harmful or fatal.

Why use a property manager at all, especially when the tenants are Section 8? Direct deposit of the rent from the state agency is not hard to manage.. Let one of your friends take care of the maintenance issues if you don't have time. Removing mold isn't always a huge project. Just stop the source of the water, replace any porous materials that can't be treated with Microban (or just bleach).