All Forum Posts by: Byron Scott

@Adam Rapoport Biggerpockets has a rental property calculator (https://www.biggerpockets.com/buy-and-hold-calculator) you can plug in all the numbers. I put a link to a video that explains how to use the biggerpockets rental calculator.

https://www.youtube.com/watch?v=hrOR9mYk0Vs&t=2s

Legally it will depend on if you have a lease agreement signed by you and landlord. Is the lease month to month? If so he will like be able to get you out fast. All that being said if y'all are fussing already and can't get along, its probably not a good idea to enter into a tenant landlord relationship. You will probably be better finding a different place to stay. That way both parties are happy with their situation.

It would be like a regular lease. I would use the lease on Biggerpockets. They have leases reviewed by lawyers from my understanding. Just make sure to name the room as a unit. 

@Gina Nicolas You can check your state laws to see if you can amend your lease to include utilities. When you amend it changes the lease to meet your needs and the tenants. You can explain to them that everyone will be paying for the water and heat that they use. I would do a few utilities at a time so rent goes up little by little and give tenants a few months, time to adjust. I would split the bill between the tenants. 

Usually rent goes up in a growing market like we are experiencing now. However, I would check the comps or ask the property manager to support the increase with the comps.

Hey BiggerPockets! I am looking to start a meetup for real estate investors in the Douglas, Carroll, Paulding, Cobb and surround area. This meet up is not associated with any organization. There will be no sales pitch or speaker. This will be a time for investors in the area to come together, hang out, and network. This will be a relaxed environment full of people ready to learn from each other and grow together. If you have any questions about the event please feel free to ask! Reply to this post of you plan on attending.

Date: Monday March 2, 2020

Time: 6:00pm

Location: Starbucks off of Chapel Hill Rd.

Address: 2736 Chapel Hill Rd bldg c, Douglasville, GA 30135

This meeting is open to all and I hope to see you there!

@Robert Collins @Stephen Whitlock @Tyler Jones @Cody Chavez

Hey BiggerPockets! I am looking to start a meetup for real estate investors in the Douglas, Carroll, Paulding, Cobb and surround area. This meet up is not associated with any organization. There will be no sales pitch or speaker. This will be a time for investors in the area to come together, hang out, and network. This will be a relaxed environment full of people ready to learn from each other and grow together. If you have any questions about the event please feel free to ask! Reply to this post of you plan on attending. 

Date: Monday March 2, 2020

Time: 6:00pm

Location: Starbucks off of Chapel Hill Rd. 

Address: 2736 Chapel Hill Rd bldg c, Douglasville, GA 30135

This meeting is open to all and I hope to see you there!

This is an interesting discussion and as a new investor I would struggle knowing how to respond. Many of you said you would get rid of the tenant. How would y'all go about getting rid of the tenant fast?

Sounds like you need a new property manager or manage yourself. I'm a new investor and didn't feel comfortable with any property managers so I'm managing myself. Its been pretty smooth so far. I have been creating processes to manage and I am learning a lot about managing. To learn more about management you should read Brandon Turner's book on managing rental properties. Its good for managing yourself or managing the property manager. 

@Zantiago Zurita I think you have to have systems and just follow it. For example if rent is due and late on 5th charge her the late fee. If your eviction process starts on the 8th then start the eviction process on the 8th. I would treat every tenant and every month the same. But I think @Bob B. is right about having a conversation and letting her make the choice to move on before it impacts her future. I would have that conversation and let her know the process you will be following. Put the unit on the market for rent to reduce vacancy cost. Good luck!