All Forum Posts by: Courtney Walker

@Eric James

The real estate market will change but who really knows how. I’ve always questioned why compensation has to be commission based and tied to the sales price but as a non-realtor I’m biased. Time will tell how the industry adapts to this change.

@Jake Andronico

I agree. You can’t take your portfolio with you to the grave. Figure out what strategy supports your lifestyle and move toward the target.

All my leases are month-to-month. I recalculate rents once a year after calculating for property tax and insurance cost adjustments as well as market fluctuations. Tenants are going to move rather they have a year lease or month-to-month. Do proper screening, maintain a good quality product and most of the time you won’t have issues. No system is 100% fail proof but at least with month-to-month the advantage is with the property manager…my two cents.

@Patricia Steiner

I’m not disagreeing with how lenders view cash flow. I’m simply reinforcing what you also stated in your reply, a year lease or MTM does not guarantee cash flow.

@Patricia Steiner

There is no cash flow stability with a year lease. A tenant can move out or stop paying at any time. The lease gives you the ability to follow the legal process and TRY to collect what’s owed to you assuming the tenant beaks the contract. Learn your local and state regulations to see which option is easier to get a tenant out of your property if they break the lease. That will aid you in making a decision that aligns with your risk tolerance.

@Brittany Guimond I’m not an expert but I don’t see the benefit. Someone else may be able to chime in and provide more insight.

@Brittany Guimond

So you have an LLC for each property but there's no assets in the LLC? Or did I misunderstand your statement?

@Jason

And ensuring a military member pays their bills is a different can of worms than ensuring they clean their off base residence. I agree on ensuring they pay bills, there are mechanisms to aid in that process.

@Jason

I’m also a vet. I don’t recall a Uniform Code of Military Justice violation or military regulation a CO could use to force a member to clean their off base residence…other than scare tactics.

@Jason Hirko

There’s not much the CO can do if your military tenant leaves the place trashed.