All Forum Posts by: Antonio Figueroa

I sent over the Comply with Lease Agreement notice that is included in The Book on Managing Rental Properties (great book to ready/listen to) along with a copy of their lease (which they have but I sent it to reinforce/remind them they did sign a lease) yesterday and they came back saying they were going to work on the items.  Also informed the complaining tenant and asked them to let me know if things get any better.  I dont want to be a mediator so I just point everyone back to the lease which has things about noise and hours to be quiet.  Best case they comply, worst case lease is up in 3 months and I have documented notices in their file to support denial for renewal. Dont want to go down that route, think/hope it's just a matter of guidance/training of the tenants.  As long as they follow the lease everyone should be comfortable and the house maintained.

Thanks!

How did this end?  I'm in a similar situation where the upstairs tenant is making noise until until very late impacting my downstairs tenant peace. 

@Ned Carey sure you get this all the time but are you still doing this and do you have any of your training in video somewhere for me and others to review.  I have started looking into this aspect of investing and when I heard about 18% returns that sounded great but it seems like large firms have gotten wise and are bidding rates to 0% and paying premiums in an effort not to get the 18% return but to obtain the property.  So I have questions around 

   *Return especially when bidding a premium on investment

        eg the cert is worth $100 but you bid $1,500, is that $1,400 is that ever coming back when the lien is paid or is it the price to play.

  *Followup once a cert is won and how to find the right lawyer.

   *Where do I find the OTC market

Thank you!

From my 20 years of working on wall street I can say this. The closer you are to needing cash the less you want to be in stocks, volatility can make or break you. Capex is for repairing big ticket items that sometimes go when not expected. So for me I am stay liquid in cash for now. I think once you start getting enough properties and your capex gets high enough you can start to leverage some of it in the market (bonds, REIT's or Tax Leins). I personally like to buy and rehab my properties from day 1 so I know what the lifespan of items will be and for me it is unlikely I will have multiple roof's fail in one year.

Starting off down the same thought trail.  I would like to know that I am:

1) saving enough for cap ex, maintenance and vacancy because all 3 happen and I want to minimize how much comes out of pocket

2) track what those numbers are so I know how much I can make sure I am leveraged efficiently (eg can I drop vacancy from 5% to 3%, do I have enough lined up to change a roof in X years, etc....)

So curious what did you end up doing? 

How did this story end?

@Account Closed same here - I need a new plumber.  I have a project that I would like a second plumber on hand.

@Chris Masons - I just sent you an invite - I am looking for a plumber also for a property in Elizabeth.

Just wanted to give an update. I closed on one property 2 days back and one had to let go as the seller could not provide a clear title. This BRRR will have minor reno with demo starting this weekend in the bathrooms, electrician taking a look at panels (precautionary step), flooring, trim, spackel and paint Monday. This will be tenant ready and cash flowing in 3 weeks!!!

I am in the east coast (NJ) and all meet ups have been difficult at best.  I have working my internal circle, looking in the MeetUP app for local investors.  Next time I need to work on the relationship earlier to have funds ready ahead, so now I have to hustle but again not something I shy from :)

As I respond I am already looking at my 12/31 goal for my 3rd deal under contract this year and cant wait.