All Forum Posts by: Aaron Rowzee

Just joined his Facebook group. Can you give us a run down on what you thought about it?

Originally posted by @Account Closed:

Saying a pre-nup sets the precedent that you expect the marriage to fail is like saying giving condoms to kids encourages them to have sex. It's an emotional retort to a logical statement, completely gas-lighting, and asinine. Saying that someone considering a pre-nup should ask themselves why they feel like they need one is also gas-lighting.

I didn't put a fence up around my pool because I told my children to not go in there without me, and they know better than to disobey me. Ludicrous. 

Keep emotion out of it. It's a business decision. No different than insurance, wise investing, hiring an accountant, pulling permits, etc. If you have assets that you don't want to lose, do all of the things to ensure you don't lose them. Pay your bills, do the maintenance, service the HVAC and appliances, have insurance, do appraisal audits. A pre-nup adds right to it.

It's not about feelings, it's not an emotional discussion, and for the love **** this is not kindergarten. 

I don't have a pre-nup because I didn't have any assets when I got married, not for any emotional reason I was just broke.

As one with a very successful marriage, and being a Christian I wholeheartedly agree. The two questions you need to ask yourself is: 1.) Is this your livelihood? And 2.) Do you have children with someone else?

If my full time job was either to be mine despite what happens to the marriage, or I have to give half of it away and reduce my ability to earn an income and a living wage, then the answer is protect it. If I have kids from a previous marriage or even accidentally, I want them to inherit something from me. So I'll protect it.

Get with a lawyer in your state to confirm, but I think a trust has many more benefits and is less messy. If your assets are already locked away in a trust there is no discussion or argument. And should you decide to, you can add her to the trust or as a beneficiary. (Again, confirm with a lawyer in your state).

Originally posted by @Sam B.:

Thanks for the notice, @Bruce Kay

I've not had any of my premiums go up.  You seeing any increase @Aaron Rowzee or @Adriel Hsu ?

I've been warned that it is happening, but not 30%. I won't have a renewal until October.

Tara Arena at TWFG on Dowlen Rd is my agent. She's great and can help you out. 

Thanks guys, I have no numbers as it's a fresh lead, I'm more curious the size and demand of that type of unit. My city is around 120k so there isn't a huge city center demand like Houston.

Originally posted by @Amy T.:

The silver lining to this whole thing is that I had listed the unit for under market value a month ago and the new tenant was getting a deal (which she acknowledged). I just got done checking craigslist and there is virtually no inventory for comparable places - meaning there are only SFH ($$$) and large apartment buildings available which many people don't want. We will likely be able to get 10-12% more with our next tenants. Fingers crossed.

 Boom! And you'll hopefully get the smoker out, the unit rehabbed and be able to get an even higher percentage for unit 1 then what she was paying. So you learned an awesome set of lessons for next time, get a chance to strengthen your lease agreement, demand is high, rents are higher: Wins all around!

I'd be super stoked if I were you right now, this is like a platinum lining haha. How are the landlord/tenant laws in your state? Since there was nothing in writing allowing her to abandon the property and break lease, I think the law is on your side. Verbal agreements mean nothing, nor does a handshake, and she's taking full advantage of a situation where she's technically in the wrong for. I'd give her only whats left of the security deposit after cleanup and repair, and the pro-rated rent is for you while you find another tenant to fill the opening.

I've got a solid lead on a 24 unit complex in a good part of town, however, the units are all efficiencies with no walls except bathroom. I'm not sure if there is any laundry hookups in the units, but there is no laundry mat onsite, so for the sake of conversation lets assume stack-able washer/dryer in each unit and 2 parking spots per unit. Water is included, but I would immediately work on sub-metering, and the building is landlocked with no way to add value like storage buildings to rent to each tenant, etc. 

No word on price, pro forma, etc its a brand new lead and the owner is preparing to sell within the next few months. My main question is whether or not I even pursue in this hot market? Is there ever really a demand for efficiencies to the point where they perform as well as larger units and SFH? This small of an apartment is actually not common in my area, and I've only really seen them, or lived in one when I was in college and in a nothing college town.

@Amy T. I can so appreciate your post and I'm glad to be able to share in your experience. While I am very surprised at the jerk comments you are receiving I will tell you that you CAN do it and I think you've learned from your experience and absolutely did what you needed to do to get it done and pay bills. The best advice I can give you, assuming you haven't already done so is purchase the Bigger Pockets Book on Managing Rental Properties by Brandon Turner. It has single handedly changed my mind on managing myself versus a property manager. I primarily did wholesaling and flips when I first got into this a year ago but now own 1 rental and am in contract for 5 more doors currently. I'm working on an EXTENSIVE and water tight lease agreement, as well as, setting up my systems to automate a lot of things like maintenance agreements and avoid phone calls while I work my full time job. Tenants can be idiots just as much as they can be angels but don't let that cause you to clam up and start paying someone. Unless you just absolutely absolutely can't handle confrontation I'd stick with it, go forward with all you've learned and ignore the nay-sayers here. And thanks again for sharing!

Have you ever met 100% commission lifetime sales people? Not all of them, but most are bad with money. This is not to sale "all sales people are terrible people" or "all sales people are idiots" but sales attracts a certain personality type with the same common flaw. Almost everyone I've ever known with hard and fast with their money just like they are with achieving sales goals. Many, many realtors - not all- but many are those type of sales people. They see an easy path to dollar signs, a low barrier of entry, and hit hard and fast. 

If anyone doubts this, I'd ask you why most realtors also don't own buy and holds which are MUCH easier to obtain and manage than even a cosmetic flip. I know it probably won't be the popular answer, especially for licensed realtors on BP, but I could also relate this as to why a majority of realtors are terrible to work with as an investor. And all of these points are also why I'm currently going through the courses to become one myself. I'm so tired of waiting on terrible realtors who don't have time to do their job and only have time to chase the easy money.

Originally posted by @Jason Hirko:

@Stephen Phan if you're looking for a Freddie Mac SBL, I use Tony Talamas at Hunt Mortgage in Houston. Send me an email and I'll make an introduction for you

 Jason, I noticed you fund in Beaumont. Lets chat.