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Old 09-21-2018, 11:04 AM   #61
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To the members woo replied and said they rent out mother/daughters, or two families or single family houses, how do you background check your renters before singing all the paperwork? Do you use a company our just rent to family/perks you know?
I have a good friend with some rentals. He did it himself for awhile. Had trouble collecting, getting service done and crap like that.
I set him up with a real estate guy. The guy charged him 10% and he was like **** that, but hired him anyway. First thing the guy did was raise the rents 15%. He is happy now. No late nite calls, no trouble collecting and no real headaches.
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Old 09-21-2018, 11:09 AM   #62
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I have a good friend with some rentals. He did it himself for awhile. Had trouble collecting, getting service done and crap like that.
I set him up with a real estate guy. The guy charged him 10% and he was like **** that, but hired him anyway. First thing the guy did was raise the rents 15%. He is happy now. No late nite calls, no trouble collecting and no real headaches.
It's a business & you have to run it like a business. You can't run it like a mom & pop operation (get educated & find a successful mentor).
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Old 09-21-2018, 11:10 AM   #63
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To the members woo replied and said they rent out mother/daughters, or two families or single family houses, how do you background check your renters before singing all the paperwork? Do you use a company our just rent to family/perks you know?

Credit score.

Under 600, you need a co-signer.

They either provide me with credit karma image screen, or pay the $25 for me to retrieve it.
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Old 09-21-2018, 11:28 AM   #64
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Credit score.

Under 600, you need a co-signer.

They either provide me with credit karma image screen, or pay the $25 for me to retrieve it.
Look into using a realtor next time.

My realtor does all the work of listing, finding good tenants, doing the credit and background check, and gets paid their broker fee by charging the renter 1/2 month rent.

The realtor bring the best applicants to you and you pick which one.
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Old 09-21-2018, 11:45 AM   #65
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Look into using a realtor next time.

My realtor does all the work of listing, finding good tenants, doing the credit and background check, and gets paid their broker fee by charging the renter 1/2 month rent.

The realtor bring the best applicants to you and you pick which one.
If you can find a realtor who has good to great property management skills. You might look at property management companies.
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Old 09-21-2018, 12:07 PM   #66
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Look into using a realtor next time.

My realtor does all the work of listing, finding good tenants, doing the credit and background check, and gets paid their broker fee by charging the renter 1/2 month rent.

The realtor bring the best applicants to you and you pick which one.
No realtor I know would do a rental for 1/2 months rent.

They want 1 month for every 12, with a two yr min lease agreement.

I do it myself.
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Old 09-21-2018, 08:19 PM   #67
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Seems like you have good renters, that's nice.
I've had a lot of bad renters, secret is to get rid of them, and try to keep the good ones. So after a while there are more good ones than bad
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Old 01-07-2019, 10:45 PM   #68
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Bought a single family home. Just wanted to say thanks to everyone for the help and advice.
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Old 01-08-2019, 12:27 AM   #69
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Bought a single family home. Just wanted to say thanks to everyone for the help and advice.
Congratulations!
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Old 01-08-2019, 01:43 AM   #70
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The best real estate advice I could ever give anybody ever. Buy a bunch of property on Oahu or on Maui in the year 1975. Trust me on this. You are gonna end up rich as Donald Trump.
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Old 01-08-2019, 06:34 AM   #71
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My advice is to wait and watch. Go online and visit the real estate listings and learn about the market. Learn about mortgages and financing. Visit open houses. Go on the assumption that real estate agents are sketchy.

The first house should be small in my opinion. The bigger the house, the bigger the headaches. If you choose a fixer upper, evaluate your costs. Renos can be expensive even if you do a lot of work yourself. One of my better investments was a small, older home that was well maintained in terms of newer windows, siding, furnace, etc. That allowed me to put my time and money into flooring, painting, a minor kitchen remodel and a panel change .
Same here... years ago we bought a small older home and had fun fixing it up. Paying rent is a bummer... like throwing money away when you could be building equity.
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Old 01-08-2019, 06:35 AM   #72
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The best real estate advice I could ever give anybody ever. Buy a bunch of property on Oahu or on Maui in the year 1975. Trust me on this. You are gonna end up rich as Donald Trump.
There you go again!!
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