All Forum Posts by: Aaron DiCaprio

Thanks @JimGoebel.  I'm actually looking for houses with alleged paranormal activity.  

Aaron

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Hi Courtnye,

My wife and I became accidental landlords several years ago.  We were in Denver and that market wasn't booming like it is now.  Owning investment properties can be lucrative if done the right way.  Joining Bigger Pockets is a good start as the community here is very insightful.

With respect to location, you might want to look into Cleveland, Columbus and Dayton.  I heard good things about those areas...others may disagree but doesn't hurt to do some homework.

Here's a map that shows which states in the US are either tenant or landlord friendly: 
https://www.rentcafe.com/blog/renting/states-best-worst-laws-renters/.  It can help you choose where you want to invest.

At some point, you may want to consider buying rent default insurance.  That coverage will reimburse you a portion of your lost rent and legal expenses when a tenant defaults.  And it's tax deductible.

That's my 2 cents.

Good luck,

Aaron

Does anyone know realtors or resources that specialize in and/or list haunted houses for sale?  'Tis the season!!

Thanks,

Aaron

At some point, you should consider buying rent default insurance that will reimburse you a portion of your lost rental income and legal expenses when a tenant defaults.  That coverage may not reimburse all of your expenses but every bit helps.

Good luck!

Aaron

Get yourself a real estate/eviction attorney to help point you in the right direction since there are a lot of moving pieces.  You don't want your first deal to be an absolute travesty.

Separately, consider buying rent default insurance.  That coverage will reimburse you a portion of your lost rent and legal expenses when a tenant defaults on the lease.  Protects against non-pays and evictions.

Good luck!

Aaron

He who hesitates is lost!  You have a lot of great input from the BP community, Nick.  Good luck!

Aaron

Hi Everyone,

I'm looking for feedback on what grace period should be set forth in a lease for when a tenant doesn't pay by the agreed upon rent due date.  What does the BP community use?  Do certain state laws mandate that a minimum grace period be provided?

Thanks in advance for your input,

Aaron 

It's a relatively new insurance product here in the US but widely available abroad in the UK and Australia.

It could be bad luck though you're doing the right thing by getting more insight.  There are a lot of good property managers out there.  Perhaps it's time for a change.  My wife and I went through a few for our Denver property and finally found one worth their salt.  We lived and learned.  

Separately, you might want to consider purchasing rent default insurance at some point. That coverage can reimburse you a portion of your lost rent and legal expenses. The cost is pretty affordable and tax deductible.

Good luck!

Aaron