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Hello All, Looking for some help with salary compensation at Microsoft DART( Detection and Response Team). Anyone who have joined or about to join Microsoft DART, Could you please help me to estimate on how much salary compensation 5/5+ yoe professional should expect for security analyst role at Microsoft DART within UK/Europe region. #salary_expectation #negotiation #microsoft #dart Microsoft security Detection and Response TeamMicrosoft
Why do H/S dual admits tend to choose S??
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Any Property Management recs in Seattle area? :(
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Subject Expert
Your biggest fear should be them or someone else getting injured on the property suing you for your whole net worth in excess of umbrella coverage
Mentor
Umbrella policy is issued by an insurance agent. Get your own quotes, don’t believe anything from a realtor or property manager as they will give you low prices to get you to sign that won’t represent reality.
Costs vary widely by state, but a $1m policy is probably under $500 in most states (caveat: your existing homeowners and car insurance policies will need to have minimum coverages that are higher than legal minimums, so the total cost of all of your insurance may go up).
To mitigate the risk, rental to multiple tenants with each having verified income.
Coach
(1) charge first, last, security, and realtor fee. If they can pay that, they must be doing OK; (2) run those credit checks! If they are good on credit, that says.... well, it says they have good credit, right?
No, ehy
The best thing you can do to protect against this situation is not get into the rental market. Seriously, non payment of rent is one of the many headaches that can come with owning rental property and if you’re seriously concerned about that then I would advise you to consider other opportunities.
But I believe that is not the solution. I know the chances are low, but you don’t back out because of one of the risks that are involved. There has to be a solution.
Buy in a landlord friendly state
PEOPLe usually say new york state is like both firendly and i don’t know what that means
Subject Expert
All of these concerns are valid. Some steps you can take:
- know your market. Before you buy, know what the market rent is, and where you fall in comparison to other units. I try to have a slightly nicer unit that is priced slightly under my competition so I can be picky amongst applicants. Don’t take a realtor’s word for it, do your own research because you’re accountable for the numbers (where as a realtor will often say anything to get the deal done).
- Once you buy the property, run a background and credit check on applicants. I use MySmartMove, which is owned by Transunion.
- verify rent from previous landlords. Many will say references available, but you need to actually check this.
- verify employment. Call the employer and verify, and/or ask for paystubs. Don’t just take their word for it. A mortgage company requires proof, you should too for a renter.
- require first / last / security deposit (as allowable in your area). This makes it very expensive to move in, so you may want to split the deposit across the first 2 or 3 months. But this helps give you a buffer.
- hold an umbrella policy. I suggest at least $300k medical / $1M in liability. It’s cheaper than you might think.
- read and understand the landlord tenant act in your state, and follow all of the rules to a T. Too many landlords believe a tenant who feeds them Bs about a situation and delays things long enough to swing the law in their favor. Act promptly if a tenant isn’t holding up their end of the bargain.
- set aside at least ~10% of rent for vacancy and another 10% for repairs every month. Hopefully you won’t need it, but plan for the worst.
Yes i plan on keeping it for a long term. My plan is to have a stable income. I can even market it beloew market just tk have peaceful tenants. Ok so after reading your comments, i need to verify the rent roll for current rent and tax but how do i verify what the tenant is paying kf theyre paying cash? Wouldnt it be easy to fake as well? I need to verify the tenants rigorously, even if they are placed or vacant. And I will definitely place in a contingent offer with inspection and not let it go without inspection. The kind of listing I’ve been seeing is quite consistent with the rent amount and the kind of property and the property price so I’m sure it’s pretty static and consistent. so that brings my only way is to have a nice tenants which I can do credit check background checks to have a peaceful mind
Op - Based on your responses to the comments, start reading bigger pockets articles and listening to their podcast. Find a couple more podcasts and then circle back in a few months.
Thanks! Im in the process. But don’t discourage me to ask questions. I can guarantee you that I learned more here than watching those podcasts.
Mitigating before your purchase….purchase a B/C class property and one that has better estimated cash flows (ie don’t buy the one that absolutely has to rent at the top of the market compare to comps to breakeven, buy the one that can rent at middle of comps and still cash flow).
No. I’m saying having a B/C property means when times are great, your tenant pool is basically everyone. When times are bad, you still have A/B renters in your potential tenant pool. If you buy the nicest place on the city, you will need to charge premium rent to cash flow, and when economy goes south, you have no potential tenants as the most financially sound tenants are looking to cut back.
You can vet tenants, maybe a bigger deposit, and just have reserves in case things go South.
Credit check + verification of income and a low term. Do 6 months then if they’re good tenants do another and at the end do a year.. you’ll rather have long term tenants paying affordable rent than short term tenants paying high rent