All Forum Posts by: Justen Ashcraft

I was informed on the 4th of the month that one of my tenants lost one of her jobs and would no longer be able to pay her rent. She stated that she would be moving out in the next couple of weeks. I immediately sent the pay or quit notice and have filed for the writ of possession and it was served October 12, with 7 days to notify the court. She texted me and said she would be moved out by October 22. I drove by this evening and noticed the sheriffs envelope still taped to the door. We also know that the electricity was turned off in September 18. My question is, should I go tomorrow and unlock, and inspect the property for vacancy or set up the eviction/set out with the sheriff? I would prefer to not pay a turn crew and sheriffs fees to show up if the property is empty. Thanks for any experience/input.

Is she going to be staying in YOUR property? Anyone living there should be on the lease, and a full background check performed.

Your income from your business needs to show as positive though. I found out the hard way that writing everything off and only showing 25-30k in income doesn’t cut it for lenders. This year I’m only writing off my major expenses so I can show a larger income, and not have issues getting financing. It’s a catch 22 until you’ve “made it” to the next level.

There’s a YouTube channel with a guy named Travis Everette out of North Carolina. He has the entire NC real estate licensing class there. He discusses this in one of the vids.

Not only would no competent agent do it, the paperwork doesn’t even exist in any major brokers office. This would be a great way to get fired as an agent.

The person has been a member for all of 11 hours, and he’s acting like this? Wow...

1% and 2% rules are great for blowing through mls deals if you know what the area market rents are. In the end, calculate your cash on cash return.

99% of seller finance deals are going to want a decent chunk of money for a down payment. Of course there's the rare unicorn mentioned above. Investing with low and no money down doesn't mean you can't have any money..

Check out Brian Casella on YouTube. He's got quite a few videos on this topic.

Coming up with 20%-25% on a property at those prices is easier, finding a bank that will lend on such a small amount of $ will be the problem. You'll get more looks at 80k, and actual interest over 100k.