moneyman

Has anyone ran across sellers not wanting to do deals based on the fact I want to run their credit looking for payment delinquencies? I want to check their payment history with the lender, should all payments be made as promised, my payment will go to him directly and should he have payment problems, my payment will either go directly to lender or made out to him and his lender and a performance mortgage will be signed up in the beginning to protect my interest, otherwise I probably won't complete my deal with him? Is this good practice?

Has anyone made a template for the signs/flyers? I thought about making one or having one made for an 11x16 sheet of posterboard for my signs (I didn't think hand written signs look very professional when trying to buy from owners, although this would be cheaper. The standard 8.5x11 is so small and in order for someone to see it, fonts need to be huge but your limited on what you can say. Looking into print shops to find who can do it and the cost. I got the idea from Thrifty Nickel want ads. they sell their Garage Sale signs for $.50 per sheet, But I bet I can get a better price with bulk quantities. Just my $.02

Is it better to leave your ad on your signs, flyers etc. as vague as "I BUY HOUSES 1-800-xxx-xxx" or to list in more detail where possible. I believe if the caller sees a more detailed ad, when he calls he is already somewhat aware of your system and more able to possibly fund a deal-If he's not interested, he won't call(the less is listed in the ad, the more calls come in just checking out what you have to offer) Am I wrong? I have also noticed just about every bandit sign I have placed on stakes have either come up missing or takin' off the stake and laid face down (while driving around looking for properties, and checking my signs I recovered most of them). Every sign I stapled to telephone poles have stayed for some time although there in the same areas as before, I'm just thankful I was able to recover most of them. Thinking about offering to network with my sign guy. He charges $6 per sign but gives bulk discounts, will offer him to place his logo or statement on my sign for an even bigger discount, he gets free advertising, I get cheaper prices.

Should I try and collect first months rent outside my tenants option consideration as well as security deposit? Seems like alot of money to come up with at one time (good for me though). I was thinking of taking 1/2 a months rent as security deposit out of option money, but I don't know how to charge the option money- Any help would be appreciated-THANKS

How can ensure my payment to the owner gets paid to his Lender?

Has anyone used a servicing company to collect the sellers mortgage payments from me and mail directly to Lender? if so, how did it work?

What do I do if after signing up the deal with the owner, have a tenant already living there and property values increase to the point where the owners house payment goes up, who pays the difference?

As far as the buisness side of LP, even though I'm not on the title, does anyone know if money spent by me (advertising, title search, tenant screening etc,) is tax deductible as a buisness expense?

If we are in a Landlord/Tenant relationship and Tenant agrees to purchase the property within a set time and decides not to buy, how do I get rid of them if they have paid all rent on time and haven't destroyed the house? Does my contract with them need to state they will need to move within a certain timeframe should they not buy?

My wife doesn't think a LP will work very well in a town dependant on college students for rentals, could she be right?

Does anyone not take a security deposit (security deposits are refundable under certain circumstances and I want to keep all upfront money) and label all money collected as "non-refundable upfront consideration". I NEED to make it clear tenants have no equitable interest in the property, how is this done?

From what I've read so far, I'm supposed to keep relationship on a landlord/tenant basis to protect myself should a court battle ensue, that being said, how can I pass on maintenance responsibilites onto the tenant when landlords normally take on maintenance duties. Obviously it is written in my contracts they pay for maintenance, I was wondering if I can legally expect to get away with this.

Are there any full time investors out there who deduct courses, advertising, legal fees etc. from their taxes?

Has anyone used an agency to screen their prospective tenants and if so do you feel it's worth the money (how good was thier screening?)

How much time is reasonable from the time the seller and I agree on the deal for hime to be out so I can show for a tenant/buyer? Should I entice him somehow to speed process? Should I delay his first payment as long as possible as long as he stays in property, after all time is money and if he has to wait before receiving his first payment I THINK THAT SHOULD ENTICE HIM