All Forum Posts by: Cory Benhardt

Yes, there was a lease created and executed. 

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Under the "Refinance" section, for a successful BRRRR, does the Total Cash Invested need to be $0 instead of $94,900.00?

*This link comes directly from our calculators, based on information input by the member who posted.

Any Bucks County meet ups coming up? 

Thanks guys! Lesson learned 

@Mason Hickman The previous landlord was very lackadaisical so I'm assuming he didnt have it filled out. I had an estoppel agreement completed prior to settling but other than that, thats all we have. 

When it comes to returning a security deposit to an inherited tenant (after they moved out), am I legally allowed to keep any of the deposit if I didn't know what the condition of the unit was when the tenant moved in?

We did inspections before purchasing the property so I was aware of the condition of the unit but after the tenant recently moved out, I noticed a large rip in the carpet that was under the tenant's bed when we did the inspection so I didn't see it at that time. 

Not knowing if that carpet rip was there when he moved in, is this something I can keep part of the deposit for? 

I would ask your tenants first to see if they're interested but if not, rent it on fb marketplace. We had a shed that wasnt being used & none of our tenants wanted the extra storage so after a couple days we had over 50 people inquire about renting it. 

@Greg M. That's a complete mindset shift. Thank you Greg. I can mentally taking that whole cost on at once.

@Dell J.  We had a full inspection done & we got money off the purchase price so its all relevant but at what point is excessive 

I own a 4plex that cash flows $795 with 10% vacancy, 10% capex, & 10% repairs included. It feels like ever since I bought it, it's been a capex nightmare (roof, two heating systems, replacing gutters, etc). 

I dont think I've made any money due to all the capex. Is this a property you would dump or this is just a part of landlording?