Quotations by Brandon Turner

Always take a rental application fee with the application. The amount you charge must be reasonable and reflect the actual cost of you running the application, plus reasonable compensation for your time doing so. I recommend finding out what the local property management companies charge and charging a similar amount. Currently, I charge $35 per adult. Be sure to check with your state laws and make sure there are no laws dictating how much you can charge. [2015] - Brandon Turner

Seller financing has a few key benefits over a regular sale: 1. Possibly higher sale price (buyer is more concerned about the terms). 2. Lower tax bill (you pay only on the income received in a given year). 3. Ongoing passive income. If you plan to use seller financing, just be sure to hire a lawyer and do your homework, because there are numerous laws that must be followed, as well as some general best practices. Also, the person you sell to matters, so screen them carefully and require a sizable down payment. [2015] - Brandon Turner