All Forum Posts by: Aaron Hunt

My decision would be strictly based on how good laws are in terms of eviction in your state? Is it a tenant friendly state or landlord friendly state? If you can’t get her out easily. Look elsewhere. She’ll inevitably have holiday shopping, a major car fix, or some vacation expenses, or all of the above. The rent will become secondary. If that happens how quick can you evict? If under a month, take the max allowable security deposit per your state, with first + last month rent (as allowed by state). That way when you evict, you are using their own money to kick em out.

Honestly, I’d get bored looking at Zillow/Redfin all day. It’s fun to see and treat patients, while my money continues to make me money. Also, I can work as little or as much as I want to as a physician - whether that’s working 20 hrs a week and making $100k or 60 hrs a week making $300k+. The docs you see complaining are the ones working like dogs cause they have no other hobbies or interests outside of medicine and act like they are forced to work day in/day out. If I can continue to practice medicine for free someday, because my investments are able to float my lifestyle, I would.

Too many people get rear-end hurt over the to agent or not to agent dilemma but truth is for every 1 effective agent there are 9 who have no clue what they are doing, and are more likely to cost the buyer money or waste their time. If your agent doesn’t have local connections (handymen, plumbers, HVAC, multiple lenders, etc) knows the ins/outs of the local sales process, and any additional tricks/tips for negotiation then you’re not getting your moneys worth. Better off going on your own.

Depends on your local landlord tenant laws. Pro: Got a year’s worth of rent up front. Cons: Can’t kick her out for non-payment of month-to-month cause judge will say she pre-paid you. There’s no way your local laws allow for a years worth of security deposit to be collected. Now after Year 1, that’s a different story, and I’d worry about Month 13 onwards depending on how quickly and easily you can evict someone if needed. Remember she’s brokanese, can’t take her to court cause she makes squat - so you already know that avenue is closed.

2018 1. Re-lease current rental unit, July 2018. 2. Convert current home into heavy cash-flow furnished rental upon move out, Sept 2018. 3. House-hack into 3rd consecutive owner-occupied 5% down property, Sept 2018. 4. Purchase sub-$100k 20% down cash-flow investment. Use 90% LTV HELOC on first property if needed. 5. Total mortgage debt target: $1 million, Dec 2018 (Currently at $500-600k) 2019: First multi-family. Target: 4-16 units.

I’m guessing you live in the outskirts of NoVa. Ain’t nowhere you’re finding townhomes for less than $500k over there these days. Those are the best school districts in the nation so I’m guessing you mean moving into Fairfax or MoCospecifically. Agree with the others. That potential rent doesn’t cut it. Not as much appreciation in the DC suburbs cause honestly that market never got hit that bad in the first place like NYC.

Do you mean billing your own time?

Depends how much I put down to begin with.

Your 25% ask is certainly reasonable but why would anyone casually agree to coughing up $4-5k for nothing? In your defense, if they went past the documented loan contingency date per the contract, that’s the end of it. EMD is yours. However, it looks like commitment date is 11/15, and they have 10 days to back out. Why do you even have that in there? I see no real “bad faith” here from the buyer. The lender is not very smart though because the “gift” should have been in their account way in advance and confirmed by lender by 11/15 if anything. That all being said, that EMD is ridiculously high, even for a seller’s market! As a buyer I’d have ran in the opposite direction.

Fantastic book for when I was in high school/undergrad to prepare me for life ahead and develop the investor’s mindset. Now...not so useful.