All Forum Posts by: Caleb Liu

Congrats Tim on your purchases.

To provide a more balanced view, I ran through the numbers and noted the following are not included:

- implied property management (pay someone or pay yourself)

- estimated vacancy

- property tax

If you factor in these real expenses, your long term cash flow will be significantly lower.

Much appreciated, thank you Gail.

Thank you @Gail K..

How do you force your tenants to pay rent until new tenants are found?  If they vacate the property and stop paying, what options do you have?

Hi BP Landlords,

My tenants just notified me they will be closing escrow on their new home at the end of this month.  They intend to break their lease just 4 months into a year-long term.

They've coordinated with the agents they're using on the purchase to offer to relist my property for rent at no cost.  They will handle all of the potential applicants along with the showing of the house.

Have any of you gone through a similar situation?

I've used my own trusted agent for over 10 years.  I'm a bit cautious about relying on agents I'm not paying, and thus aren't incentivized to perform.  They don't answer to me.

The property is in California and the relevant clause in the lease agreement states: "in the event of termination by Tenant prior to completion of the original term of the Agreement, Tenant shall also be responsible for lost Rent, rental commissions, advertising expenses and painting costs necessary to ready Premises for re-rental. Landlord may withhold any such amounts from Tenant's security deposit."

Thanks in advance.

@Brandon Battle @Edward Rhoads - Thanks for confirming my initial hunch. We have similar seasonality in CA with the school year, but I see the weather magnifies the trend over there.

@Account Closed - Thanks for reaching out, will let you know.

Pardon the pun.

Howdy folks. Buy and hold investor here from Orange County CA looking to BRRR out of state in Indianapolis.

People in sunny CA start to complain when the thermostat hits the high 50s.  Obviously I have some concerns with investing in an area that actually snows.

1)  Would a rehab be advisable in Indy during the fall or winter?  I'm aiming to start with a simple paint and carpet rehab.  Any weather issues I need to be aware of?  (Never seen a frozen pipe in my life.)

2)  Is there a significant drop in the tenant pool during the cooler seasons?  My other concern is that I get a place fixed up, only to have to wait until spring to get it rented out, which leaves the property vacant and a target for vandalism or squatting.

Apologies for any ignorant stereotyping of the Midwest.  Cheers.