All Forum Posts by: Wes Anderson

Very interesting, not something we have had to deal with yet and hopefully ever but I'm sure it will happen. If anyone has a best practices of what you could include in a lease to prevent issues, I would love to know. Thanks and good luck! 

If you have a chance to learn from a mentor, then grab ahold of that and learn! Not sure how much you would be paying but if within reason I would definitely go for it! I would never for example pay $10,000 for someone to show me how to buy my first house as its just honestly not that hard and wouldn't be worth the money as some people spend to much time and money trying to learn and never actually doing. I would be more interested in paying to learn how to raise capital and deals. 

Bottom line: Hiring a mentor is your first choice as a new business owner. Is the education they offer worth it? That's what you have to ask yourself. Congrats on making your first decision and good luck!

P.S. - I really like J.Massy and have taken many of his classes and appreciate his knowledge. I'm not sure if he is still offering classes as it looks like he is switching to 100% Short term rentals currently and updating site but its worth a contact, he has a multi family class on raising private capital that are very informative and affordable.   https://cashflowdiary.com/

Sincerely, Wes

Congrats!

We have had great luck with long distance investing but we always visit the area and spend at least 1-2 days there. Eat at local restaurants and get a feel for the town or area and of course check out any houses we may be interested in and establish relationship with a realtor but once we have a good lay of the land we aren't nervous about putting money to work in the area. We try to always have a team of at least a Realtor, Home Inspector and Handyman in the area. We sometimes invest in some rural parts of Montana and/or North Dakota where and it can be difficult for us to get there for a showing and have found it useful to allow a potential tenant to view property via lock box (we only do this after an application is submitted and we are interested in tenant).

I just received a call from the power company stating that the lock on the gas meter has been tampered with. My tenant just moved in and has not switched utilities over in her name yet. I'm not sure if they have done it or not and the utility is apparently launching an investigation. Any advice? Can a landlord be held liable for tenant tampering? Thanks, FYI the state is Montana.