All Forum Posts by: JR T.

You can say yes. I would advise them it's a leasehold improvement and they cannot take it when they go. If a concrete pad doesn't exist for it consider paying for that since you will have that shed when they move.

The number one way to attract legit cash buyers is to offer genuine savings over market price for the properties you list. Do not expect buyers to come calling if you can't beat the MLS.

Every business has to deal with customer acquisition expense.  Mailers, bandit signs, billboard, search ads or a combination. If you don't spend 90% of your time prospecting it is not enough.

Your insurance is too high. Try @Jason Bott on here he got me insured for ~$25/door/month.

With an HOA do you really need a property manager?

I believe your vacancy will be higher than 8 but only time will tell.

The election won't cause any near term impact for anyone besides the two running. Out of curiosity which candidate do you think could negatively impact your investment and why?

My first rental was a condo. While I've grown much faster in another market I'm always watching that condo development and have found one each year since at my target price. Condos that allow rentals are well managed it is like having an included property manager for maintenance just handle leasing and rent collection. 

Congratulations on your success, Nick. You are on the right track deleverging your RE. Paying interest to reap a quarter of it back on your taxes is ridiculous. It's amazing when all the payments are gone just how much real capital you have to work with.  Bigger Pockets is lacking in strong resources for real estate ventures that succeed. Tons of advice for the newbie but nobody teaching how to get all these loans paid off they talked readers into.

I would 1099 a wholesaler fee unless it was paid by the tittle company or paid to a corporation in which case there is no need.

Glad she moved out. What does your lease say about abandonment?

We are using Buildium. You can scan paperwork to their cloud.

Regarding annual leases these tenants do not care about your lease terms. Any bump in their life affects you getting paid and when they lose their menial job, happens all the time, they just wait to be evicted.

Why don't you offer to rent one of these turnkeys for a month and go live there? Have Cort furnish it, quite an education. 

Also if you see bandit signs billboards or internet ads stating "we buy houses for cash" you can contact them and ask to be put on their buyers list. The cash they're referring to is yours or mine. Few wholesalers can close even the smallest deals on their own.