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Posted: 8/21/2017 8:11:37 AM EST
Ask a guy who just received his first rent payment as a landlord anything
Link Posted: 8/21/2017 8:12:58 AM EST
section 8?
Link Posted: 8/21/2017 8:13:38 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chuy123:
section 8?
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Were you allowed to run your tenant's credit score and if so what was it?
Link Posted: 8/21/2017 8:13:45 AM EST
Single hot female?
Link Posted: 8/21/2017 8:15:10 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chuy123:
section 8?
View Quote
No
Link Posted: 8/21/2017 8:15:45 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By hsracer201:


Were you allowed to run your tenant's credit score and if so what was it?
View Quote
I did not run there score
Link Posted: 8/21/2017 8:16:13 AM EST
Wait until you have to replace your first A/C unit on said rental and then we'll talk.
Link Posted: 8/21/2017 8:16:38 AM EST
Did the check bounce yet?
Link Posted: 8/21/2017 8:16:41 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By K31Swiss:
Single hot female?
View Quote
No
Link Posted: 8/21/2017 8:16:55 AM EST
How much money down did you require?
Link Posted: 8/21/2017 8:17:23 AM EST
They probably stripped all the copper from your place.that rent check was your cut
Link Posted: 8/21/2017 8:17:37 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By pdm:
Wait until you have to replace your first A/C unit on said rental and then we'll talk.
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I bought the house new 3 yrs ago.

i hope I have a few years before that happens
Link Posted: 8/21/2017 8:18:04 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By LiveFree482:
Did the check bounce yet?
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It was a USAA account transfer
Link Posted: 8/21/2017 8:18:16 AM EST
Are you going to be a dick landlord and claim your tenants destroyed the house despite the tenants taking real good care of the property and take half their security deposit when they move out? Because you're a slum lord?







For the record, I don't think you'll do this. My ex-landlord did it to me last month because she's a cunt.
Link Posted: 8/21/2017 8:18:38 AM EST
Why haven't you fixed the toilet?


Or the window

Or the heater

Or the front door

Or the leaky faucet
Link Posted: 8/21/2017 8:18:42 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chuy123:
How much money down did you require?
View Quote
I thousand and first month
Link Posted: 8/21/2017 8:19:05 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ilikeporkchops:
They probably stripped all the copper from your place.that rent check was your cut
View Quote
LOL they don't use coppery and new homes in Texas
Link Posted: 8/21/2017 8:19:43 AM EST
[Last Edit: 8/21/2017 8:20:06 AM EST by JoeMal]
How much profit do you plan to net each month?
Link Posted: 8/21/2017 8:20:10 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By TheTallest:
Are you going to be a dick landlord and claim your tenants destroyed the house despite the tenants taking real good care of the property and take half their security deposit when they move out? Because you're a slum lord?







For the record, I don't think you'll do this. My ex-landlord did it to me last month because she's a cunt.
View Quote
 The house is three years old and had contractor grade carpet. They have a dog a three-year-old boy and she is pregnant.

after they move out and I get back from my deployment I am going to have the carpet ripped out and tiled

so no
Link Posted: 8/21/2017 8:20:26 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By patchouli:
Why haven't you fixed the toilet?


Or the window

Or the heater

Or the front door

Or the leaky faucet
View Quote
Because everything works
Link Posted: 8/21/2017 8:21:07 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chas8008:
LOL they don't use coppery and new homes in Texas
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I don't think anyone uses coppery
Link Posted: 8/21/2017 8:21:50 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By JoeMal:
How much profit do you plan to net each month?
View Quote
 That is an interesting question 

 My mortgage is 821 and I am charging them 1000 so I am clearing 179 a month 

but I am leaving for Germany for nine months so the house is going to be empty anyway so do I count that as $1000 profit per month or 179?
Link Posted: 8/21/2017 8:22:01 AM EST
How late was it?
Link Posted: 8/21/2017 8:22:34 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By JAD762:
How late was it?
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On time
Link Posted: 8/21/2017 8:23:04 AM EST
do you have a gloryhole on the otherside of the wall?

ETA: good luck being a landlord, it's not fun as i use to own 5 units and even hired a management company - it was side money was all. my rent ranged from $1000-2000 a month, so it wasn't all white trash, i sold them all off a few years ago - much better.
Link Posted: 8/21/2017 8:24:22 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By TheTallest:
Are you going to be a dick landlord and claim your tenants destroyed the house despite the tenants taking real good care of the property and take half their security deposit when they move out? Because you're a slum lord?







For the record, I don't think you'll do this. My ex-landlord did it to me last month because she's a cunt.
View Quote
I've never gotten a securty deposit back despite talking care of the houses I rented

I once did a "rent to own" and when the owner sold the house and kicked us out I was told the $5000 concrete floor in the barn was lowering the house value
Link Posted: 8/21/2017 8:24:42 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By armoredsaint:
do you have a gloryhole on the otherside of the wall?

ETA: good luck being a landlord, it's not fun as i use to own 5 units and even hired a management company - it was side money was all. my rent ranged from $1000-2000 a month, so it wasn't all white trash, i sold them all off a few years ago - much better.
View Quote
Did you figure out how much money you cleared verse time invested over the course of the ownership of the properties
Link Posted: 8/21/2017 8:25:32 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By cofi:


I've never gotten a securty deposit back despite talking care of the houses I rented

I once did a "rent to own" and when the owner sold the house and kicked us out I was told the $5000 concrete floor in the barn was lowering the house value
View Quote
You got fucked bro
Link Posted: 8/21/2017 8:25:37 AM EST
How many months have they been living in there?
Link Posted: 8/21/2017 8:27:10 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chas8008:
I bought the house new 3 yrs ago.

i hope I have a few years before that happens
View Quote
I hope so. FWIW, I budget about 15% of rent for maintenance costs. Over the long term that seems accurate.
Link Posted: 8/21/2017 8:27:37 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By JustinOK34:
How many months have they been living in there?
View Quote
0
Link Posted: 8/21/2017 8:28:10 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By pdm:


I hope so. FWIW, I budget about 15% of rent for maintenance costs. Over the long term that seems accurate.
View Quote
That's the kind of knowledge I am trying to acquire here
Link Posted: 8/21/2017 8:29:52 AM EST
O wish you luck.
I'm on my 4th A.C. call today already .
At a large rental community.
2 of those 4 are legit.
The other 2 are " I feel hot..my house in massojerseystonshire always keep it 65 indawrs in saummer time...".

Well...welcome to florida..its 83 and 90% at 8 am...enjoy the bugs.



Ohhh....

There's black mold because the kid has asthma....

Get ready for it. Lol 
Link Posted: 8/21/2017 8:30:57 AM EST
Are you rdy to clean out the fleas and urine once they leave?
Link Posted: 8/21/2017 8:31:09 AM EST
Are they allowed to drive your car while you're overseas?
Link Posted: 8/21/2017 8:32:05 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By protus:
O wish you luck.
I'm on my 4th A.C. call today already .
At a large rental community.
2 of those 4 are legit.
The other 2 are " I feel hot..my house in massojerseystonshire always keep it 65 indawrs in saummer time...".

Well...welcome to florida..its 83 and 90% at 8 am...enjoy the bugs.



Ohhh....

There's black mold because the kid has asthma....

Get ready for it. Lol 
View Quote
If I do on multiple properties I hope to have Grace while dealing with multiple issues at the same time
Link Posted: 8/21/2017 8:32:39 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By TheTallest:
Are you going to be a dick landlord and claim your tenants destroyed the house despite the tenants taking real good care of the property and take half their security deposit when they move out? Because you're a slum lord?







For the record, I don't think you'll do this. My ex-landlord did it to me last month because she's a cunt.
View Quote
That's standard practice. From my experience anyway.
Link Posted: 8/21/2017 8:32:59 AM EST
If you are in Europe, who is going to service the house if an issue comes up?

A/C goes out, Dishwasher breaks, electrical, ...?

Do You have a Home Warranty for coverage?
Link Posted: 8/21/2017 8:33:09 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Twisted10:
Are you rdy to clean out the fleas and urine once they leave?
View Quote
I left fleas and piss in there so, yeah
Link Posted: 8/21/2017 8:33:27 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Tboy:
Are they allowed to drive your car while you're overseas?
View Quote
Only if I'm allowed to fuck the wife
Link Posted: 8/21/2017 8:34:09 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chas8008:
 That is an interesting question 

 My mortgage is 821 and I am charging them 1000 so I am clearing 179 a month 

but I am leaving for Germany for nine months so the house is going to be empty anyway so do I count that as $1000 profit per month or 179?
View Quote
How much for property taxes and insurance. I usually budget 3 months of rent for that.

Maintenance and management fees (I am my own manager for property tax appraisals) are about 20%
Link Posted: 8/21/2017 8:34:24 AM EST
Post here when you file your first eviction.

12 years a landlord; three evictions.
Link Posted: 8/21/2017 8:34:43 AM EST
In before the obstructed sewage pipe
Link Posted: 8/21/2017 8:35:47 AM EST
Have they renovated your house for you yet?
Link Posted: 8/21/2017 8:36:44 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chas8008:
Because everything works
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The last hopes of a new landlord.....

Dont worry it gets worse. When you have to change the AC and its because of a 1inch layer of cat hair on the filter...
Link Posted: 8/21/2017 8:36:56 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Chas8008:

 My mortgage is 821 and I am charging them 1000 so I am clearing 179 a month 
View Quote
You do realize the $1000 is income on which you pay taxes?
Link Posted: 8/21/2017 8:42:11 AM EST
Why are you so excited?

They ALWAYS pay the first check.
Link Posted: 8/21/2017 8:50:39 AM EST
Best advice I can give it to screen your applicants very very well. Now that wont always keep you from getting a turd but it sure does help.

I currently have 2 rentals..one is paid for and the second will be paid off in 2 months. I have never taken a dime of the rent its all gone to house payments, taxes and maint.

So come October it will be the first time I will actually start showing a profit...and my houses are paid off and they are assets.

Now its time to start looking for another house....

I have time to buy and pay off 5 more houses before my early retirement plan takes effect. There is something satisfying when you spend 1.5 hours picking up rent and people hand you stacks of money.
Link Posted: 8/21/2017 10:21:27 AM EST
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Originally Posted By Nathaniel_Hawkins:


How much for property taxes and insurance. I usually budget 3 months of rent for that.

Maintenance and management fees (I am my own manager for property tax appraisals) are about 20%
View Quote
prop tax is $3600 a yr and insure is $560.

but that is included in my  mortgage  
Link Posted: 8/21/2017 10:23:24 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By broadrunarms:
Post here when you file your first eviction.

12 years a landlord; three evictions.
View Quote
Hummmmm ok
Link Posted: 8/21/2017 10:24:23 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ISED8U:
Have they renovated your house for you yet?
View Quote
Nope,

i watched their dog on the weekends and their old house was cleaner then mine
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