All Forum Posts by: Brian Van Pelt

@Cameron Riley

Yes

@Mike Rev

Since you are looking at 9 months of no income, I would offer the tenant a 2 week or 4 week rent buyout to get them out of the property. A couple of my Clients have doe this rather than wait for the courts to unclog. It falls into the current guidelines. Make sure they get the check on the day they are out and turn over the keys. Property manager should change out locks at the property after they physically turn over the keys.

@Marco Morkous

It's never the number of properties you have, It's whether YOU have the ability to scale up your skills and abilities to handle what you are taking on. This applies to all aspects of investing and just about anything.

@Chase Whitney
. Save money by spending less than you earn
. Pool money with friends and family
. Work small deals first
. Have a cosigner
. Find a HM Lender

@Christopher Smith

Welcome to the hard nosed game of investing. Truthfully people don't generally care about you, your past or anything other than. "If I invest with you, can you do the job and make me as much money as possible ?" YOU have to radiate the same level of confidence your investors have to give them the comfort level that they are not going to loose their shirt with you"

It's a hard tough business and you have to have a thick skin to play. Many investors have lost money with new investors who don't have the chops to complete a deal.

For a lot of people Wholesaling, Bird Dog, Mentor-ship programs are starting steps to learn the ropes and to find out if your passion is more than just a state of mind. No one starts at the top.

It's not about you, It's about the money.

I'm ex Navy and the BEST piece of advice I learned at 16 in the Navy from a Chief Boatswain Mate while he was holding a cup of coffee and watching me paint the side of the ship. "Son, Learn one new thing about your job every day, and one day you can trade your paint brush for a coffee cup"

May 2020 Who has received all or most of their rent this month ?

. Tenants using Direct Deposit are paid up 100% Today
. Checks should start arriving by tomorrow.

One request for deferment, will only consider with (proof of employment loss, savings,IRA,checking statements)

@Brandon Turner

I had a client that had this exact scenario.

. We placed an offer subject to a zoning review as part of our due dilligence
. Seller accepted
. Zoning confirmed it as non compliant
. Buyer settled (with a revised offer as a SF home.)
. Buyer received a Zoning Violation notice halfway thru renovation.
. Renovation put on hold while petition for zoning variance and hearings were completed.
. Zoning denied 2 times
. Fines were levied for non compliance after 9 months
. Buyer brought property in compliance as a SF Rental

Zoning boards can make it financially expensive for being non compliant

@Andre' Indigo

After reading your post. I say this with all sincerity, stick with real estate, Do NOT become a doctor, then you will never be in a position where you suggest half thought out ideas and opinions in place of real medicine on a patient who needs help.

Just give it some serious thought and remember "You can't kill a house"

As a former Computer Consultant and Business Owner, computer technology only gives an incremental reduction in costs over like minded tasks that require organic (human) input. Sending statements to Tenants is an example . A task that 15 years ago took 1 person 2 hours to do, now takes 2 minutes via eMail. However that savings is now offset by the Monthly fees associated with the cost of the software. and the cost of support personnel to keep that technology running.

Property Management only has  limited applications where technology can reduce overhead costs.

I've found that the Lower the Fees charged by a PM, the worse the Management is of a property.

@Asi L.

. In Real Estate it's legally required and ethically a best to practice treating ALL perspective Tenants equally.