Mortgage Loans

[youfool]

Not trying to be rude but do you not have any furniture in your present home? Is it that hard to wait  a few days or even one month?

[BIRDWRITER]

Hi,

Yes, we do have furniture. :-) It's just that we're going to keep and rent our present home (don't want to sell bcuz it's a little underwater right now), and plan to leave a few things (washer, dryer, etc) behind for new tenants. Also, our old (current) mattress is killing DH's back, so we want to get a new, more back-friendly model. I hate to pay movers to move an old king-sized mattress and box springs  that we will throw away in 30 days. I could certainly get an air mattress like Webhopper suggested, but I just wanted to clearly understand the "safe" time. No sense in waiting 30 days if we're safe in 2, and no sense in going out to buy in 30 days if we really need to wait 45 to be safe.

[webhopper]

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BIRDWRITER wrote:

Hi,

Yes, we do have furniture. :-) It's just that we're going to keep and rent our present home (don't want to sell bcuz it's a little underwater right now), and plan to leave a few things (washer, dryer, etc) behind for new tenants. Also, our old (current) mattress is killing DH's back, so we want to get a new, more back-friendly model. I hate to pay movers to move an old king-sized mattress and box springs  that we will throw away in 30 days. I could certainly get an air mattress like Webhopper suggested, but I just wanted to clearly understand the "safe" time. No sense in waiting 30 days if we're safe in 2, and no sense in going out to buy in 30 days if we really need to wait 45 to be safe.

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Depending on your rental market, they will probably not want to use your furniture... You'll have more success donating the unwanted items to Goodwill or Salvation Army and writing it off on taxes. New tenants look at everything left behind as junk. Now, appliances, I would suggest that if the washer and dryer is in good shape, fairly new, they may appreciate having it there. I just signed a new set of tenants and I may end up buying a set for the unit to make them happy. I get the employee discount (50% off) for Whirlpool through a friend of mine at work.  I own a duplex and have been an active property manager for over 4 yrs now, and new tenants don't want your furntiture, unless you know the people you'll be renting to well enough that they don't mind sleeping on your bed  

[thankfulheart]

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BIRDWRITER wrote:

No sense in waiting 30 days if we're safe in 2, and no sense in going out to buy in 30 days if we really need to wait 45 to be safe.

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Besides, when you move into your new home, you want to be "settled". Chances are you are taking time off of work and don't want to take even more time a month later to finish what you started.  I certainly don't.  In my situation, I need to buy appliances and would rather have 6 months interest free financing and let my cash work for ME during that time. I certainly can't wait 30 days for those items.

[thankfulheart]

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webhopper wrote:

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Depending on your rental market, they will probably not want to use your furniture... You'll have more success donating the unwanted items to Goodwill or Salvation Army and writing it off on taxes. New tenants look at everything left behind as junk. 

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Absolutely, utterly disagree. One of the selling points of the home I am renting now was that it was "partially furnished" with living, dining, master bedroom, washer and dryer.  Imagine my surprise when I walked in to find it bare to the walls as the previous tenants who hadn't bothered to pay rent for nearly a year, stole the landlord's furniture/appliances as well.  Fortunately, my landlords are decent folks and let me use rent money to purchase the needed items at the outset.  If you watch House Hunters, many renters are looking for furnished places and it does add value to the property.

[webhopper]

What demographic are you targeting? I guess you might see this in very urban areas... but definately not my rental market.  my target market is people in late 20s early 30s... they've already picked out the furniture they like and have purchased it over time.  I target my advertising efforts online with plenty of pictures, but not on craigslist.  I throw in lawn maintenance, and my tenants seem to enjoy this, as most of them are young professionals who don't want to fool with mowing their half of the 0.19 acre lot

And also, since you used rent money to pay for the furniture, then technically it really isn't yours right?  Should belong to the landlord upon you vacating the unit.

[BIRDWRITER]

Hi,

I swear I won't leave the new tenants my crappy old mattress! We are leaving behind all appliances (new house has everything but washer/dryer), a decent Weber barbeque grill on our deck (new house has natural gas connection on patio--DH (aka "grillmaster") needs a new Weber), and an almost new kitchen table and chairs (won't fit in my new kitchen with large island). Other than that, the rest of our furniture is nice and will go with us, except for our older and mismatched bedroom set. That is going to Goodwill. I have a beautiful new set on layaway, and I'm looking forward to retrieving it. Thankfulheart, you nailed it: I just want to be settled! I am taking a week off of work to move, paint, unpack, etc., while DH does final touchups on old house to hand off to leasing company. I never.want.to.move.again.

[webhopper]

Hopefully you'll never have to move again!!!  I wish you luck on getting your new place rented...  I left all of the major appliances in, main reason is that I didn't want my new tile and carpet scratched or damaged by someone's 10 yr old stove or refrigerator. Plus, I can charge more with my stainless appliances in there, they all match, same brand, and I didn't want to split up the grouping of Stove, built in microwave, dishwasher, and refrigerator, as the sparkle of the appliances makes the kitchen look oooh la la.  I'm going to refer you to a group called american apartment owners association... That's where I do all of my tenant screening and get landlord tips... I don't pay a leasing company, as I figure that I'll be more likely to pay attention to my units than someone else who has 20 units to manage. I only have two.  Plus, I don't want someone taking 15% of my rent, when they didn't do the work to get the place ready to rent!  I swear getting a place ready to rent is harder than getting one ready to sell.  I have lined up a cleaning lady though she cleans my house twice a week, and she'll help clean my units when the time is right and I have tenant turnover.

[MissMia75]

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webhopper wrote:

What demographic are you targeting? I guess you might see this in very urban areas... but definately not my rental market.  my target market is people in late 20s early 30s... they've already picked out the furniture they like and have purchased it over time.  I target my advertising efforts online with plenty of pictures, but not on craigslist.  I throw in lawn maintenance, and my tenants seem to enjoy this, as most of them are young professionals who don't want to fool with mowing their half of the 0.19 acre lot

And also, since you used rent money to pay for the furniture, then technically it really isn't yours right?  Should belong to the landlord upon you vacating the unit.

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Why wouldnt it belong to her?????????????????????  She used HER MONEY to purchase the furniture as the previous tenants took furniture from the home

[drkaje]

I think a lot of it likely comes down to the lender and common sense. I recall asking USAA and it was a month or two before and nothing until a little after. They're conservative and really don't want to see people taking on a huge amount of debt before knowing how the new mortgage fits.

Ignoring the bank's needs/wants; it's really a matter of common sense and being honest with yourself about what's really affordable. I don't really subscribe to the "Everything has to be perfect, day one, because this is our dream home" mentality.