Rental and Cashflow Property - Management, Strategies and More

HI MY FELLOW DGERS IM NEW TO THE GAME AND WAS WONDERING IF A DGER MEMBER FROM CT WOULD BE GRACIOUS ENOUGH TO DONATE SOME INFO PLEASE AND THANK YOU IN ADVANCE..

I live in a college town, we have one university and one college in the city itself with three satellite colleges within 30 minutes of the city. Many local investors that I have talked with steer clear of student rentals because they are afraid that students will ruin their investment property but surprisingly, they don’t.
My son owns a student rental here and I think the key to keeping your student rentals from becoming the trashed party houses like the one in “Animal House” is in the lease.
It is because the lease includes language to address Joint and Several Liability which I can explain best by giving you this example:

Through the years I have been a landlord, I have had the opportunity to talk to other landlords. I have come to understand that a couple of things good landlords do is maintain their property and move quickly when they have a bad renter. Often times those that are rough on a property also do not pay on time on a regular basis. This does not apply to good people who are struggling and that you can work with.

Often times a new landlord gets nervous and will not complete the eviction process. I have even heard of people paying a tenant, who has damaged a property or who has not paid, to leave.

In the headline of a real estate investing article we read: “Since 2009 Landlord income up a stunning 85 percent.” That’s a really big number, and it’s being reported by the U.S. Commerce Department. Since 2009, rental income grew the fastest compared to all other asset classes. In another article, we read that “Very few households actually own rental real estate.”

The first thing you need to know in conducting an interview is that the person who asks the questions controls the conversation. Real Estate agents are notorious for picking apart things that investors do, if you give them a chance. I believe that the reasons for their "attitude" toward investors comes from the following:
1) They have been trained only on one way to do transactions, investors do things differently, and they are unfamiliar, and therefore wary.
2) Many real estate agents are fearful that in some way investors will find a way to cut them out of the deal.
3) There are enough stories about dishonest investors that agents have a right to be cautious and uncomfortable, especially if you use terms that have negative connotations like flipping.

Hi all,

I need some advice, I am currently owed 3 months of back rent. The tenant has already been served and the petition has been given to the marshal's office.

What are my options as a landlord in NY state? Do I wait it out?

Can the tenant ask for an extension once the marshal give them the notice of eviction? If so, how long can the extension be?

There are people out there who are completely willing to walk away from their home if you will take over the payments. There is a myriad of reasons why people do this, but it does happen. They will give you their house if you will make the bank payments.

Here is what to look for. Make sure they are not behind in their mortgage. They need a good reason to be leaving in their own minds. They usually just want to walk.

Do a contract where you take over the payments. Rent it out. If you break even you will still make money in the future. If you make $200 extra a month by renting the house out good for you. I know. I have done it.

An option is a “legal right or contract whereby a property owner sells a right to purchase his or her property to a prospective buyer at a predetermined price.”
Okay, enough of the legal-ese. Essentially, an option is the right to purchase something, without the obligation to do so. People have been using this concept for decades, and it has been called many different names, such as layaway or rain check. People will put a small amount of money down to have the item or items held for them.
With the ever-changing face of real estate, it was only natural for this concept to find its way into the market to help with frustrated buyers and sellers.
To help illustrate how an option works, and more importantly, how it can make money, let’s use a rain check for an example.

There’s plenty of news about the improvement in prices in the housing market. The FHFA, Federal Housing Finance Agency’s monthly House Price Index report was just released for June, and there was one interesting data set. The rate of home price increases nearly doubled from June 2012 to June 2013 (8.6%) over the same period from 2011 to 2012 (4.5%). Home prices in some markets in Texas and Colorado are hitting new record levels.

There’s plenty of news about the improvement in prices in the housing market. The FHFA, Federal Housing Finance Agency’s monthly House Price Index report was just released for June, and there was one interesting data set. The rate of home price increases nearly doubled from June 2012 to June 2013 (8.6%) over the same period from 2011 to 2012 (4.5%). Home prices in some markets in Texas and Colorado are hitting new record levels.