All Forum Posts by: Christopher Bell

@Julie Hartman yeah I mentioned before

is it fine for me to hold keys until it pays?

@Jaron Walling I would say no.

What do you do if a tenant who hasn’t moved in yet and they haven’t paid the security deposit or rent yet? Do you have to turn over keys?

@Theresa Harris still not well last bad payment was Mar 1. The income idk how legitimate it is or if it is really only half that.

Also some more color, the credit check showed past due balances before coronavirus.

So I'm a bit of a newbie landlord and I have a listing that I posted in a lower income city in a better location. The prospective tenant had a low credit score in the mid 500s with a total of 5k a month in liabilities if they were to rent from me. Their income before tax is said to be 14k a month working a double shift. With that low of a credit score, should I accept them as a tenant? So far they are the only prospective bite but from cornavirus complications I think that's where credit score took the biggest hit. Should I be using their 2x shift income as their true income if they tell me that's what they plan to do? Any thought would be greatly appreciated. Also to add more color there are some accounts from 5 years ago that are delinquent but not in a large amount

@Kevin H. I use blockfi GUSD to save for my real estate. The reason to own real estate with debt is that you are best preparing for inflation. Ideally, you have hard assets that maintain their value and you pay off your inflated away debt. But real estate investing with BBBR smokes other assets and anyone that says bitcoin is the future may be right but don't mistake a speculation with an investment. The BTC/USD rate versus something that generates cash are two different things. Also expect that more entrants will compete away an 8.6% stable coin return over time, it's probably only good for the next couple of year. While it's there I'm taking it. But don't count out IRR versus cash return. IRR for a Houston property I own is renting for 4200 a month with a 3000 mortgage. The equity pay down + cash flow ends up being 17% that will grow to 26% IRR per year over time.

@Jonathan Klemm

Chicago regulations require a lot of materials to be fireproof plus getting the materials up there isn’t an easy task. I thought originally it would be 30-40 to build everything.

I’m in the process of considering putting a rooftop deck that’s 500 sqft on an unfinished roof on a condo in Chicago IL wicker park. Does anyone have an idea of how much rent per month that would be worth? My thoughts were for a 3 bed 2 BA that would be worth 500 a month more where I could raise rents from 3800 to 4300 which would be 8.5% return on capitol where it will cost 70k to build.