All Forum Posts by: Daniel Barnes

Hey Tyrel, I live in Rockwood too and am now a full time real estate investor. Its allowed me to quit my day job back in October of 2016. I mostly have single family homes in Roane county but, if you want to talk or need any advice give me a shout. 

Thanks for all the great advice everyone.

Here's the problem I'm having with a lot of my tenants. Many of them come rent due date like to pay $300 here and then $100 there maybe a week later and then when I really get on them $50 more  later. The way they pay is by taking there payments with a filled out deposit slip to my bank and deposit funds. I do enforce late charges and Pay or quit notices on those that don't pay. My question is, can I enforce a Pay or quit notice when they have partial paid to get the full amount? If  not how do I stop them from putting partial payments in my account? I'm in Tennessee and really not sure what the laws are on this. Any direction would really be appreciated. 

Thanks everyone for the great advice, it helps to ease my mind gets me excited about this big step I'm about to take. 

Hello, I've recently only dealt with SFH's but, my main goal is to invest in apartments only. I'm getting ready to buy my first apartment deal. A 10 unit apartment that consist of two buildings. They both need some work and I'm looking to put about 60k into the rehab but, I'm only paying 130k for the apartments. Rents are $500 per unit in my area and that seems about right and even a little low for what other apartments are renting for. My concern is that I'm going to have a hard time finding tenants that I'll even want to rent to and I might have to settle for ones that are more headache than there worth, just to keep them occupied. My area isn't experiencing much growth but, has always been really easy to rent out a SFH. I really want to turn these apartments around and make them into something people will feel lucky to have the chance to live in them. Is this a logical concern or am I just getting cold feet because I'm jumping into the unknown? I just don't know if this is an apartment town or more of a SFH town.