All Forum Posts by: Becca Summers

@Emily Jefferies  Welcome! Learning and reading are going to be your best friends. My advice would be to take your time and learn what is a good deal and what is not. Really get to know your market and how to sale. 

@Lance Card  I would say it depends on the home. If the 1930 homes have been updated with new electrical wiring, plumbing, roof, furnace, windows, the sewer main. Then maybe I'd keep it. However I'd still wouldn't do a 2 bed 1 bath single family home as they don't hit my criteria. I've found the rental rates to be better on a 3 bed 1 bath home for comparable purchase price. 

I wouldn't be against a modular home except for the lending requirements are a bit tougher and the type of tenant modular homes attract. They are nice because you get a bigger property for less. Then again they don't go up in value as quickly as a stick built single family home. 

Sounds like a fun situation. I assume no one has a copy if the lease? I would assume you could give her notice to move in 30 days after you close. I don't think you can evict her before the property is legally yours. I could be wrong though. 

I would talk to a lawyer just to be safe.

@Andrew Syrios your right I could do a notice to pay or vacate. The last time I talked with my parents about this the renters where up to date on their rent. I know they have "caught up" twice so far during this lease. 

Also spell checking I can't believe I spelled the title wrong. 

I've taken over the property management on a home for my parents. I have my own rentals that I manage very differently but my father has been very lenient. The tenants I've inherited are currently a month behind and the first is coming up. My mother is fine with me giving them notice to vacate raise rents to market value (about $400 under) my father would like me to work it out as he worries about vacancy.

I've been able to turn homes quickly so I don't worry about the vacancy to much. What you you do?

1. Option one work with the current tenants but plan on eviction if rent is not paid in full by the 5th?

2. Give them notice to vacate in 30 days.  Knowing I probably won't get October's rent as well?

I think the current tenants think I'll be like my father so they can work the system.

@Trevor Carver welcome to bigger pockets. Happy to have you join us. This forum is pretty popular with lots of activity. Please feel free to reach out if you have any questions.

@Rachel Poulson what areas and properties are you looking at? My investors and I are finding our properties from wholesalers (some are better than others) I've seen a few on the MLS or buying properties before they are listed.

@Andrew Schlessinger I'll try and answer your questions.

1. Best middle-income area. I would say anything on the west side of I15 in Salt Lake County but avoid Rose Park which is the area around the state fair grounds. Sandy is also a good little area.  Utah County would be Provo, Orem and PG. If you can get anything is American Fork or Lehi that work that is where I like to invest. I can't help you with Davis County.

2. Purchase prices I look for in SFH, Under $220,000 depending on the need of renovation with at least 4 bedrooms or the chance to make it 4 bedrooms 2 bathrooms.

3. Are you achieving the 2% rule. Nope mine are .09% and .08% They both have between 35%-21% since we bought them helping build our net worth.

@Brad Irwin when it comes to brokerages I think it's best to interview and find the right fit for you and what your goals are. 

For me when I started out I had no clue what I was doing and decided to go with Keller for the training I didn't just want to be another agent I wanted to be a great agent and the cost was and is worth it to me. They have a capping system where you pay $18k to Keller Williams a year then you owe them nothing. I love the cap I feel like it pushes me to reach my numbers quickly. I help a lot of retail buyers so my commissions are larger which means it only takes about 8 deals to hit my cap then for the rest of the year I keep 100%. At my office if I purchase an investment property the fee is only $500 and I keep the rest if I'm not capped at the time. There is no desk fee you can use the day area that has free WIFI. The monthly cost is $28 for the website they give you.

They also have profit sharing were if you recruit enough agents who sign up under your guidance you get a portion of the profit from the office each month. 

Darby, I'm happy to see you jumping on here and checking it out!