All Forum Posts by: CJ M.

@Sergio Jordan Manzo

I would ask:

1. Are they any offers currently on it?

2. Does he/she think it'll sell above/below list

3. Are tenants current with rent

4. Copy of lease

5. If it's a beautiful house for a good price, why has it been on the market for sometime?? (Maybe ask to see the seller disclosure form)

@Jim K.

I use a calculator. I spend enough brain power on other things throughout the day :)

@Nathan G.

Congrats on the deal! Would you mind sharing how you evaluate (i.e. formula) whether a storage unit is a good deal? For example is the cashflow something like: rents - debt service - utilities - insurance - trash - security system, etc? Can these be self managed easily?

Hello BP,

There's a bunch of stuff online, but can someone (with experience) point me to a great video or great write-up on analyzing the numbers on apartment complexes?

I have a lot of experience analyzing single families, duplexes, triplexes, etc, but would like to learn the differences when analyzing apartments as this may be a future strategy I consider.

Thanks in advance!

@Eric Malone

I'm not really sure what being an Instagram influencer has to do with anything. Screen the person as you would screen anybody else, and if they meet your criteria rent to them.

@Aaron M. VanVoorhies

I have 25 doors as of today, and in today's economy and new administration, I'm making sure I have access to 6-12 months worth of reserves at all times.

As far as paying yourself, that's a personal decision you and your partner need to make. My feeling is, if you don't need the money to survive, reinvest it as you'll grow quicker.

Was on a REIA webinar last evening and part of the discussion was how the term "landlord" is now perceived as mostly negative in the eyes of society. In this PC culture, it was recommended for everyone to drop that word and use "Housing Provider" going forward.

Seems to make sense, which I'm going to do. Anyway, I don't have any questions, just sharing some feedback.

P.S. The world has gone mad

I want to start by saying that this pandemic is bad for everyone and as landlords, I think that if we can help a tenant, we 100% should.

That said, the first issue I have is that these moratoriums are not just for "covid-related" evictions. Courts have stopped hearing ALL eviction cases in some areas. Squatter moves in, can't do anything. Tenant moves unauthorized pets in, can't do anything. Tenant stops paying rent even though they still have their job...can't do anything. I just don't understand why courts won't allow non-covid evictions to at least continue...

The second issue I have is why announce September? That's just actively telling people they have in essance 8 free months of rent if they want. Why not say through March or April (then decide if it needs extended then).

The third issue I have is landlords have no control over what a tenant's stimulus money is used for. Yes, there is assitance out there for tenants to get them with rent, but we have to rely on them taking the initiative to fill out the paperwork.

Anyway, that's my two-cents.

@Kevin Gallagher

How bad do you want the property and how much of a discount are you buying it at? It may make sense to just have your licensed electrician quote you to make any repairs (my electrician would not even charge me just for a quote). If the cost if marginal, and you're still making money, take it on the chin and proceed closing. My two cents

@John Patton

I don't know...so much happens at the local level that any knee-jerk reactions now are probably premature.