All Forum Posts by: Collin Bryston Adams

I have a duplex. One tenant called me and informed the constable has been coming by often trying to find the other tenant in the duplex. Any idea what that could be about or if I need to do anything or should do anything?

Best advice I got is find off-market deals. It will take time and you will get frustrated. Where that gets dangerous is you start to justify bad deals because youre itching to get something, dont fall for it. 

My other two cents is I might be looking at flipping with all that money you have to use. The reason I say that is three flips can very easily take you over 100k cash and now you can go BRRRR or buy and rent without borrowing most the money. I get fearful when more than 80% is being borrowed because that can turn on you quick.

"Youll see who has been swimming naked when the tide rolls back" - Warrent Buffet

AirBNB everyday but im also in that younger generation. I want to experience where I am at and an airbnb does better at giving a unique vibe and has more variety. 

heck yea. Congratulations. 

I will also do the refinance over the HELOC. HELOC has more going on. Refinance is simple, take your cash and run!

I know some landlords are the hard NEVER! But I do think there is a time and place to reduce rent or work something out with tenants as hard times do come and I believe as landlords we need to also help them to our best ability. I am curious to hear stories or situations that you did something unique to help a tenant?

I would let her opt out, give deposit back depending on home conditions and wish her well. You will get a new renter quick in this market, even if you lose a few dollars. Its been a tough year for everyone so if you can afford to let the bail happen I would allow it. If needed you could opt to only refund 50% of the deposit. Depends on if you can afford it, but I would do my best to help out. 

@Scott Kunz I used YouMail app when having tenants apply

I always would say try to pay cash if you can for a rehab and then refinance when you get her looking good. If you cant do cash a HELOC or a home equity loan are probably your next best bet.

I just landed my 2nd ever property! Closing on Tuesday.