Can You REALLY Afford It? Buying a House vs. Paying Off Debt

Episode #431
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Buying a house is a HUGE decision, whether you’re an experienced investor or a first-time homebuyer. The last thing you want is to get in over your head with a property you can’t afford. In this Rookie Reply, Ashley and Tony are going help one of our listeners crunch the numbers and point them in the right direction!
Dealing with tenants can be difficult, especially as a new landlord. What should you do when your tenant wants to make repairs or changes to their unit? How should you react when a tenant wrongly accuses you of something? The truth is that landlord-tenant relationships are tricky to navigate, but in today’s episode, we’ll lay out a game plan for managing conflict. Finally, we’ll discuss an issue you might encounter with your short-term rentals. When should you cancel an Airbnb reservation and issue a refund to your guest? Stick around to find out!
00:00 Intro
00:56 Negotiating Repairs with Tenants
06:49 I’m Being Accused of Theft!?
13:10 Can I Afford This House?
20:10 Canceling an Airbnb Stay
32:11 Send Us Your Question!

[@stephonnohpets]

I just went through this with a tenant of mines. But Ashley is totally correct, floors shouldn't be popping apart after 1.5 years unless there's a deeper problem underneath that wasn't addressed during the initial install. I was rushing at the end of a renovation and installed good priced LVP flooring($1.89/sqft) and they started coming apart within months of my new tenant's residency. The subfloor wasn't perfectly level and I knew but ignored. I fully paid to replace with a stronger laminate and never fixed the unlevel subfloor lol

[@JevonMusicGroup]

Second question sounds like a scam. Like Ashley said, why did she take photos before the visit? If it is because she was concerned about the potential for theft, then why didn't she take her money with her when she left?

[@fabulousr2d2]

How do you convince a lender that my mortgage is going to be paid by renting rooms ans building more rooms inside the house? 🤔 Or is that a No no 😅😅😅

[@cheesymortgageguy]

Has anyone invested in St. Louis, MO? Pros and cons?

[@MrEman714]

I have a couple properties there, so far no big issues. I recommend you buy in a c+ neighborhood and screen tenants.