All Forum Posts by: Cody DeLong

@Carl Hebert All the smokers are all month to month.  I didn't want to evict during the winter as the damage was already done anyways, it cant get much worst then it is.  Once we fill up this vacant unit with this smoker that moved out we will be evicting one tenant in May as he is a chronic late payer.  I charge the maximum late fee as well and don't screw around with that.  I still have chronically late payers.  They'd rather pay the fee I guess.

We kept smokers in and have been replacing with non smoke leases on the turnover. It’s worked well so far. 

@Mike Roy It could be a waste if you aren't either local and can manage the property there or hire a property manager. Its mostly C class properties unless you're up near the college. The area can be profitable if you can hold out for off market deals and not buy MLS.

I wont be an attendee but you may get more people if you do 6PM.  Most people get out of work at 5PM

Is anyone even here?

@Ryan Murdock also my goal is to shop for deals with this one. Habitat for Humanity Restore, Craigslist, and FB marketplace. Going to see how much I can save.

@Ryan Murdock for cabinets do you do natural wood colored? I’ve thought of doing white.

Need to post photos soon. Submitted for the loan and figuring out my partner situation. Looking to get $20k to help with the down payment. I'd like to preserve some cash for future purchases this year. I'm waiting for an answer from my first choice investor next week. If he's game then we'll get the LLC made and start with that.

I’ve determined my goal with this building is to reinvest cash flow into more rentals in the town.

Curious as to what people are using for finishes and products in their C Class multi-families. IE flooring, cabinets, sinks, faucets, etc.  Please share and link to product if possible. Are you doing backsplashes, carpet or LVT, tile or LVT in bathroom?  Could be a great resource for investors.  In the process of buying an 8 unit that needs updating.

@Wilson Lee you’ll need to contact the bank on their behalf. There is paperwork they need to fill out to give you the authority to speak on their behalf. It’s not super hard however I would find an agent who specializes in short sales. I did this recently for my first one and Ive learned a TON. They’re making a small commission from the bank end and I’m learning a lot. I’ll be using the agent again in the next one and then probably attempt it myself.