All Forum Posts by: Ashley Kehr

@Mike Franco I felt sick just reading this. I get so worried about litigation too. I recently had a tenant trip on the sidewalk in front of the house and try to sue 4 months later. We sent them a notice we were terminating their month to month lease. They withdrew the lawsuit. I hope this doesn’t turn into a lawsuit for you but I would still document and take as many pictures as possible.

@Carson Allen Mike made great points. I would also contact the person above you to see if your Plummer can check their unit. I’ve had a couple water leaks before and the Plummer always wants to look in the unit above. Might be nice to give the guy upstairs a heads up instead of calling when the plumber is there. If it is something they are responsible for I’m sure they will want to take care of it before it causes more damage.

@Matt Lyons I actually spoke with someone today about an investor in Niagara Falls who turned a hotel into senior housing. If you are open to some rehab up front this might be an option. It would be more passive than operating a hotel. Hotels already have the general layout of an apartment complex plus an elevator, common area and parking.

@Phillip G Alexander Look at the comps in the area you want buy and make sure your rehab will appraise for more than your rehab and purchase costs. Some lenders won’t refinance a year or 6 months after purchase. Make sure you know if your bank has that rule. I would put your primary in your personal name. You’ll get better terms on your loan. Good luck on your first property!

@Nick Blais Have you run the numbers? What is your interest rate on your loans and what will be your return on your rentals? For example if your student loan interest is 5% and your rentals will bring you a 8% return I would go with rentals first then pay down student loans. If your interest rate is higher on your loans than your return then it’s worth paying them off first.

@Jason W. I’ve also had success in Buffalo like @Matthew Irish-Jones

@Dana Whicker I can post an update on here tomorrow. I called around to a couple surrounding courts to see if I could sit in on one and the one I had scheduled was the first one with the new changes. One thing already is that it has taken us a lot longer to get a court date! If the eviction goes through we will be into August before the 14 days is up and lose out on that months rent.

@William Coet Thank you for the nice write up starting the changes. I went to a class last week put on by a section 8 housing authority for landlords. It was a housing educator leading the class and not an attorney there was a lot of confusion. I have an eviction tomorrow that I am attending. It will be interesting to see how the judge interprets a few things.

I think with the changes rents will increase and landlords won’t take the risk on someone with bad credit, collections, etc. It will be a lot harder for people to rent an apartment. It will be interesting to see what happens.

@Steven Bays I would also have it laid out for them what they will get every month and how much more they will make in interest. The interest you pay them instead of the bank can really add dollars onto the purchase price. It’s worth it to write it all out for them.

@John Moorhouse @Eric Winstanley will post on here around the first of the month when and where the meetup is!