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| Topic | Why aren't you guys investing into real estate? |
| Austin_Era_II 08/20/20 4:23:24 PM #59: | Squall28 posted... Mortgaging two houses is just asking for trouble. What are you going to do if you can't find renters and $500k in debt while accruing interest? Don't buy in a very small ass town. Do some research...call up a real estate agent. Look on Kijiji if there are people looking in that area. See what the going rate is. Make sure you have one to two months worth of funds set aside in the event it takes you a month or two to land a tenant. Generally if there is a demand in most busy areas you won't have an issue finding a tenant unless the place you got is trashy. You get what you paid for. Make sure the tenant has a legit job letter, call the employer, get pay stubs, credit history. Take a security deposit to cover at least one month worth of rent incase they don't pay and start the eviction process. In 2021 if this pandemic is a lot better eviction process typically takes 1-3 months I believe. Use that security fund also if they damage stuff. Along with security deposit get first and last. And if you want get a criminal background check. Talk with a lawyer about the laws in your area if you need to evict. Worst case just like starting a small business put the place up for sale. --- Currently playing: God of War III MCMLXXXV ... Copied to Clipboard! |
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