All Forum Posts by: Brianne Leichliter

@Nick Shri hey there!! If you’re looking for boots on the ground in Cincinnati, I’d love to connect!! I started as an OOS investor, eventually moved here and am now helping other investors. It has turned into my dream come true!

@Katherine Fusco you will 100% want to work with a real estate agent who has investing experience.

This was a non negotiable for me when I started investing out of state. When you’re running a business, you need a real estate partner who can also see it as a business and take the emotion out of it to help guide you. That person will be your eyes and likely advisor, so think of it as networking and interviewing a business partner.

Reach out if you want to talk more strategy. I can definitely walk you through my strategy when I started.

@Dan Gustavson although I don’t live in Salt Lake, I can make some recommendations based on my personal experience with an eviction in Ohio (Cincinnati).

When is her lease up exactly?

You absolutely can post just as you normally would. You can even start the eviction process if you really want to now, but I would start with the notice.

As you said, the declaration only applies if she has gone through all of the steps and exhausted other efforts of payments. I highly recommend getting advice from an attorney. The best $126 reorientation I ever had.

If you are sending her a non-renewal, make sure you indicate that she must vacate and a holdover is not covered by the CDC Moratorium. Landlords have rights to take their property back after the lease is up.

I didn’t have a non-paying tenant but I did have a holdover and a successful eviction during the moratorium. I know the process and courts vary state by state, but it’s doable.

@James H.

I know you want your rent on the first, but for those on any type of assistance, that is virtually impossible. They are living paycheck to paycheck just to survive.

You should keep one to two months of reserves to pay your mortgages on time and expect that couple day delay. It does not hurt you as a landlord to have tenants pay two days late, but making demands of tenants who cannot change their circumstance will quickly give you a bad reputation.

I have tenants with these exact same situations. They are not lying. This is how government payments work.

If they are clean and good tenants outside of paying two days late, your best move is to accommodate to save face with the tenants.

If you want to chat, feel free to send me a message. I can help coach you through some strategies if you’re interested.

@David Kuhlke I agree with other posters. Cap rate is just another metric and it is used for value, however, make sure you understand your cash flow.

NOI does not include debt service. You could have a good looking cap rate and still be underwater from a cash flow perspective depending on your financing.

@AJ H. I love your strategy. What size multis are you buying with higher vacancy rates?

I’m looking at some larger multi families, and I also prefer to buy vacant.

@Amado Cruz if you’re looking out of state, Ohio is great. I started off as an out of state investor and ended up in Cincinnati.

As for timing of the market, that’s tough. If you wait for the right time, you might be waiting for forever. Investing is entirely a numbers game. If you are looking to buy and hold, focus on cash flow. Even with low inventory there are a lot of opportunities.

Do you want to start with SFH or multi family?

@Jeff Jansen this is hit or miss. If you’re in an area where it’s a seller’s market and it will be off the market quickly, I would say leave it vacant. Definitely more advantageous to the new buyer and also allows and owner occupant. Makes showings a breeze as well.

If you think it may sit on the market for a while, make sure you have enough reserves in place to hold you until you sell or place a tenant to offset.

@Linzey Ledesma don’t forget to consider Cincinnati!! There is a lot of growth happening here with reasonable prices. I started off as an OOS investor and eventually moved here!

@Yosef Lee you're doing what I dream of!  How amazing and for your FIRST DEAL!  This is fantastic.  I would love to talk to you more about your experience and how to GO BIG!