 I have a shmuck for a landlord!!! Help is appreciated.? |
| My landlord really stinks when it comes to making repairs. I've reached my wits end and waiting for my lease to end in another 6 months. Gas company recently did test on gas lines in my area. My ... |
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 My lanlord wants me to move out in exchange for money and is offering 5,000 dollars is that the most I can get |
Is there a way that I can get more money from my Lanlord.
Additional Details
He wants to move out because he is remodeling all the apartments and I want to know if there is a legal ... |
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 How much should I charge for renting one room in my condo. Should I request half of the mortgage? |
| I think I found the right person to be my roommate, the problem is that I dont know how much to charge her for rent. I dont know how much people pay when renting just one room. I want to tell her to ... |
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 Process2Get home loan for a 17&19yr. old with good credit? |
My husband and I want to purchase a home. We already have a trailer but want a house. How hard do you think it will be?
Additional Details
Also, I am a teller at a local bank. (If that ... |
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 Who thinks this mortgage bail out is BS? |
| This is total crap. I had a 1 year interest only loan that originated in August of 2005. My interest rate adjusted to a crazy number a year later ( when my plans to move again changed) almost ... |
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 How much money do i need to buy a house?? |
| this might sound ridiculous but i really dont wanna RENT as i feel its a waste of money..im 20 years old and im finishing my 2 years at a community college..i have a relatively stable job with good ... |
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 I rent a condo in Florida and the owners are now selling. I would like to get out of my lease early.? |
| Is it possible to terminate my lease early? I am not comfortable with strangers coming into my home while I am away. I feel this is an invasion of privacy. My yearly lease is up on March 1. I ... |
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 The city wants to build a church behind my house? |
| This is a residential area and there are woods behind my house. They are supposed to have a public hearing on this. I do not want the church to to built just behind my house because of the noise and ... |
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 First time buyer (interest only or repayment mortgage)? |
| i am a first time buyer, looking for a 100% mortgage on the property. i am very new to this whole idea of mortagage. i want to know whether it is wise to go for interest only on a fixed rate for 5 ... |
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 Do you think the landlord will pick us to move in the house???? read? |
well we looked at the best house, 4 bedroom in country secluded, huge house very very nice fenced in yard and all....
its 600 month+ utilities. we told him we could give him it all upfront in ... |
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 How can first-time buyers buy a home in So Cal where the average cost is over $700,000? |
| Our income is about $70,000 annually and we have no debt other than student loans. We have about $25,000 saved. In an area where an "okay" house will run you about $700,000 - how in the ... |
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 Do you think that the age of the house is important and I should be looking for newer house? |
| I Live in Phoenix, Arizona and I am in the process of buying a house. I have seen a house which I really like and it is built in 1988 but the house is in a very good shape. Do you think that the age ... |
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 Could we afford to buy land for £16,000 and build a posh property on it? |
| We're a small family, all with average wages. I myself am a full time student who also works part time at a call centre, my mum is a supermarket supervisor and her fiancé runs his own landscape ... |
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 Can they kick my out for this..? |
I have gone over my lease several time and find nothing on it about this..
For the next few months I am going to be late with my rent. Two weeks each month late. There is a late fee of $1... |
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 Do I need a Lawyer while selling my house? |
I am selling my house for cash to an investor.There is a small 15k loan on the house.This means the bank will be involved in the transaction.
The investor is doing most/all of the paperwork.
... |
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 I found evidence of someone sleeping in my new apt, when I went to leave the mattress.? |
| We had been there earlier today to clean and wash windows, etc. I locked all of the windows and the door before I left. Late tonight I was given a new bed by a friend and deceided to take it to the ... |
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 What to do what to do!!? |
| My credit score is at a measely 529 right now. A few yearas back i drowned my self in credit card debt totalling $5,000 that i couldn't pay back at the time but over the past 6 months i just ... |
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kedan728205 | I want to buy a house and rent it out. What things should I watch out for? |
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bhal99
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If your paying cash for the house all will be well but if your going to get a mortgage check first.I know when I bought my home the mortgage people asked me if I was planning on renting I said no but why do you ask.They told they cant give a mortgage to people who are going to rent the house.I am not sure if all companys are like that but I think its worth checking it out. |
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Magnus99
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Before you buy, do the math.
regardless of if you put money down or do 100% ffinancing make sure the property has positive cash flow.
To do this, add up all monthly expenses (Mortgage, Taxes, Insurance, Utilities, etc.) and subtract it from the rent you receive.
If your rent does not cover your expenses, you will have to continue to "invest" in your property.
There are two exceptions.
1. If you are living in part of the property
2. If you are fixing up the property and will make money on a higher value
If your property cash flows, do your research on the tenants. get a credit report and ask for previous landlords as references. Don't rush into a lease just because they are can pay the first months rent
Good luck |
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Terry S
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And why do you want to do this again???
There are easier ways to make money with a lot less headaches!
Being a landlord is a real thankless job.
Unless you can buy the rental property dirt cheap and have huge positive cash flow, I would skip trying to make money being a landlord in the current environment.
Looks like real estate will go sideways and maybe down for a few more years.
If I'm going to put up with renters, I'm going to need to be compensated much greater than the current market conditions are at the moment.
Terry S. |
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mrscmmckim
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I sell houses for a living and can tell you without a doubt, make sure your house is nice enough to rent to a person with GOOD CREDIT!
Those with bad credit will make every excuse in the book to keep from paying your rent on time.
Your question leaves me with lots of questions like, where you are thinking about buying and have you checked the average rate of rent (ask the real estate agent for this info, they should be able to give you an answer if they are any good). Is it a good time in your area to do this? Make sure factories are on solid ground to make sure your economy can handle it. How many bedrooms do you want to offer? This will decide the type of client: small house-single person, big house-family. Do you have a lawyer, are you familiar with contract law and can you access a credit reporting company. Are you familiar with your local codes regarding renting homes? Is there a flood plain near by where you want to buy in? Are you interested in doing a Land Contract with the rentor? Have you learned the tax regulations for renting a home?
This is a big project and making sure you can afford the monthly expence is very important.
When renting, make sure the renters rent is no more than 28% of their monthly income. Make them get a renter insurance policy, paid from start to finish of the contract. I also suggest you get an extra deposit for animals. And, get a bank account to put their security deposit in and don't touch it!
As to appliances, if you are new to this, you might want to rent some because of the warrantees. Buying new is rediculous because renters just wreck them.
Get first and last months rent plus a deposit which is usually the same amount as a months rent.
You need to make sure you add your own costs into the rent like mortgage, insurance, taxes, maintainance etc.
Good Luck...renting a home in some states just plain sets peeps up for living for free. In Indiana, it can take up to a year to get someone out of a home. They live there rent free in the mean time and you carry the bill! |
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angrywm14
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Save yourself money , time and aggravation don't do it its a nightmare . The majority of people that rent are slobs , they don't care about your house . I speak from personal experience i had a rental property for ten years and you would not believe the way some people live or the mess they left in the house . I had a few that just up and left without saying anything . I'm not talking about low income people i'm talking college educated " INTELLIGENT" more like ignorant people . |
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tedc57
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Please do your research..Both on the renters and your responsibilities. Laws differ state to state but make sure you know and understand them. Don't think just because you're renting the house out that your not responsible for the upkeep. Just check out the laws covering landlord responsibilities for your state or you may find yourself stuck in a very bad situation. |
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godged
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Tenants.
Being a landlord is tough. I have shown some property lately that is rented out, OMG, it is disgusting. I am no clean freak, but I don't know how people can live like that.
Tenants are hard on property, can be slow with the rent, and rentals typically need much more repair than an owner occupied home. Make sure you have cash reserves for emergency repairs, and a list of contractors to do the jobs if you can't do them yourself. If the tenants don't pay, you have to pay your mortgage, so you'll need money set aside for that to. If you have non=paying tenants, the eviction process varies by area and can take awhile in some cases.
Make sure you pencil this out and look inside yourself to see if you have the stuff to be a landlord. It isn't for the squeamish. |
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Jackie
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Renting it out!!! Tenants can be a real nightmare and a huge liability. |
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D
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Watch out for ppl with fake ID and social #. even if ID fake, you run a test, it will show no bad record. I went through this problem. The tenant mess up my house bad. Make sure you take first and last money, to be on the safe side. And look at the person closely before renting it out. Most people really good at acting as a nice, clean, responsible person. |
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