All Forum Posts by: Calvin Thomas

I’m a first-time landlord (just signed my first fully-occupied LTR in Jan 2025) and have already run into my first potential tenant issue. I have two long-term tenants in the duplex—one for 5 years and the other for 7. I met both of them and provided a letter with my contact info, my property manager’s contact for repairs, and instructions to sign up for Avail to pay rent (the previous landlord used Zelle).

One tenant was cooperative and signed up right away, but the other sent me this text:

I understand you're the new owner and want to use Avail for rent payments. However, it seems that when I accept the invitation, I’ll be authorizing you to review my credit history amongst other things, and I’m not sure I want that yet, as we’re still unsure about renewing the lease. We need to know if repairs will be made and what the rent will be for next year? In the meantime, I will send rent via Zelle.

How should I respond? I want to avoid mistakes as a new landlord so hoping to learn from all of you! This is a good tenant of 5+ years, and I don’t want to cause unnecessary friction (I’m just trying to set up automatic systems for myself). However, I did take issue with the tone of the message, especially the part where they told me how they’d be paying rent.

For context, there are no outstanding maintenance or repair issues, so I’m unsure what the tenant is referring to.

You should setup multiple ways to accept payment.

Our tenants have the following methods to remit rent (no cash) -

1) Online payment sysem

2) Zelle

3) Bank deposit at Bank of America.

4) Come to the office to remit funds.

2 Votes

Chicago, Illinois

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Spencer Ware:

Looking to start expanding portfolio. Would like to be more hands off as well. Seeking connections, advice, deals. Thanks

Have you connected with Devon Kennard at all? He just published a book on this with BiggerPockets and does a LOT in the space of trying to educate athletes on how to invest. Have met him personally a couple times and he is just a great guy all around.

His book: https://store.biggerpockets.com/products/real-estate-side-hu...

His IG: https://www.instagram.com/devonkennard/

Ah yes.. Who else would have the knowledge to lead others than a 33 year old former football player; who wrote a book that is being hocked by Bigger Pockets.

Maybe you can get Nails (Lenny Dykstra) to write a book that BP can sponsor? After all, he also was in real estate AND a successful baseball player. Pretty sure he stole from people in a ponzi-scheme or something.

You guys are classic.

If you don’t believe in BiggerPockets message or mission then what are you doing here on the forums exactly??

Pointing out the BS that people try to peddle. Your "books" are equivalent to the image below.

Really? I've read at least half of the books published and I don't think that's true at all. I'm curious which of the books you've read and why you didn't like them?

Good for you. Please, share some tips and cite the pages and books on what was so enlightening that one cannot find for free in the forums here or on Youtube.

"share some tips" is a very vague and unanswerable question. If you think that the forums and the books have the same information and the same quality, do you read books at all? Or do you get all of the information in your life from Reddit? Or do you not read anything on Reddit because Youtube has all of that same information? Different mediums have different purposes, that's the premise of media

Whatever you say lady. I'm probably 40-50 years older than you. If you knew anything about my posts, you would know this.

Regardless, I am just trying to protect the new members from the BP Press BS. Go peddle your wares some where else.

0 Votes

Cincinnati, Ohio

Quote from @James Wise:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Spencer Ware:

Looking to start expanding portfolio. Would like to be more hands off as well. Seeking connections, advice, deals. Thanks

His book: https://store.biggerpockets.com/products/real-estate-side-hu...

His IG: https://www.instagram.com/devonkennard/

C'mon bro. The dude asking for advice is a 33 year old retired NFL player and she recommended he check out a $5 or $10 book written by another 33 year old retired NFL player. Seems like a pretty fair recommendation to me.

We both know the book is BS. I am all for sharing knowledge and support for new players in the game. But the shear offering of a book when someone is just asking some questions is not right. A new member shouldn't be up sold the site's products when they are just asking for general advice from the forum; not what books to buy from BP. I've seen the books, even looked at them; they're not that great.

One would learn more just by reading these forums and absorbing the knowledge and experience from the people who've done this before.

A book is fine, these books are based off what? A BP "guru"? Come on.

You're a veteran in this game for a long time. If you were green and new to this game, would you find the book that was recommended from a BP staff member valuable?

0 Votes

Cincinnati, Ohio

Quote from @Russell Brazil:

Quote from @Calvin Thomas:

Quote from @Russell Brazil:

Quote from @Calvin Thomas:

Quote from @Russell Brazil:

Time in the market, beats timing the market.

Buy now. Rents will go up. Rates will at some point allow you to refinance.

Why would someone buy now and make little money for the chance that the rates will adjust later? What happens if he has a major expense? Sh!t happens, and it usually happens when one least expects it. This is a good way to get underwater real fast.

This is an unwise suggestion.

Literally the same thing everyone has said to me my entire life about why you shouldn't buy real estate now.

Yea, what do I know? Makes complete sense to purchase a property that breaks even or loses money. Because real estate always goes up and the maintenance fairy takes care of all repairs free of charge.

Seems like a recipe for disaster. DC properties are expensive, but they probably do not hold a candle to the crazy prices in Boston. Even a clock is right twice a day.

Boston is the 3rd most expensive market in the country, and DC is the 4th. Ive invested in the Boston & DC markets for 22 years now. So yeah, Ive got some experience in this realm.

Then you would know, that purchasing something that is losing money from the get-go is an unwise idea.

0 Votes

Boston, Massachusetts

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Spencer Ware:

Looking to start expanding portfolio. Would like to be more hands off as well. Seeking connections, advice, deals. Thanks

His book: https://store.biggerpockets.com/products/real-estate-side-hu...

His IG: https://www.instagram.com/devonkennard/

If you don’t believe in BiggerPockets message or mission then what are you doing here on the forums exactly??

Pointing out the BS that people try to peddle. Your "books" are equivalent to the image below.

Really? I've read at least half of the books published and I don't think that's true at all. I'm curious which of the books you've read and why you didn't like them?

Good for you. Please, share some tips and cite the pages and books on what was so enlightening that one cannot find for free in the forums here or on Youtube.

0 Votes

Cincinnati, Ohio

Here's a tip that I've learned being in this business for over 40 years. The key is in the buying, not selling. Value adds are always a great opportunity to generating additional more money.

If you have extra space on your property, consider applying for an ADU. If you have a basement or attic, consider converting it to usable space and attach it to the unit above or below. While they cannot be considered rooms, they will bring in an additional $$ each and every month.

If you have a mixed-use or multi-family, consider adding a laundry room, vending, etc.

Then you look at your expenses to see what you can pass on to the tenants. Transfer the water meter to their control. Transfer landscaping and snow removal to them as well.

Do you have a single-family house with a separate garage? See if you can add livable space on top of the garage.

These strategies help two fold. One, it can solve any short comings in the income. Two, it makes your property more valuable with the value-ads.

7 Votes

Quote from @Rene Hosman:

Quote from @Calvin Thomas:

Quote from @Rene Hosman:

Quote from @Spencer Ware:

Looking to start expanding portfolio. Would like to be more hands off as well. Seeking connections, advice, deals. Thanks

His book: https://store.biggerpockets.com/products/real-estate-side-hu...

His IG: https://www.instagram.com/devonkennard/

If you don’t believe in BiggerPockets message or mission then what are you doing here on the forums exactly??

Pointing out the BS that people try to peddle. Your "books" are equivalent to the image below.

0 Votes

Cincinnati, Ohio

Quote from @Russell Brazil:

Quote from @Calvin Thomas:

Quote from @Russell Brazil:

Time in the market, beats timing the market.

Buy now. Rents will go up. Rates will at some point allow you to refinance.

This is an unwise suggestion.

Literally the same thing everyone has said to me my entire life about why you shouldn't buy real estate now.

Seems like a recipe for disaster. DC properties are expensive, but they probably do not hold a candle to the crazy prices in Boston. Even a clock is right twice a day.

0 Votes

Boston, Massachusetts

Quote from @Mark Cruse:

Seems like relative perspective. You are speaking as though $800 to $1000 a month from one property is nothing. There are people here who have no problem losing hundreds to thousands in negative cash flow monthly. If everyone I had cash flowed 1k a month while I still had a mortgage, I consider it a major success because so many are not hitting that. Many who are put a significant amount down or it's paid off. Now if your interpretation is cash flowing enough to quit your job that is another conversation. 20 or 30 properties at 1k a month a door, if managed properly is a great revenue mark in my book.

Agreed. I am not sure why people purchase properties that are negatively cash-flowing. One major issue and they can be wiped out. Hoping and praying for values to rise isn't a good strategy.

4 Votes