All Forum Posts by: Dennis M.

@Roderick McCleary

Keep the deposit and rent it out ASAP . Guess you see how great your relationship is now don’t you ? Tenants leave whenever it suits them regardless of what’s on the lease but rookie landlords will lease for long periods of time thinking this somehow keeps the tenant locked in lol as you see this means very little to them

@Kenneth Coleman

I sure would !!

but I can be as nasty as the people there if I want to be . If you can stomach it there’s money to be made if you can’t there’s lots of money to be lost

I would buy a four unit apartment house free and clear or 5 houses

Cash out refi - brrr method

Dead equity is dead .. bring it back to life 

Doesn’t sound like a good rental Going forward with those numbers . I believe I’d 1031 this in into a multi in the Midwest 

@Tyler Darby

About 200 grand to get 1700 in rent , no you didn’t in my view

To do this business right , I hate to say it ..but you almost need to grow cold to the world . You will encounter people who will exploit you every way possible and mistake your kindness for weakness . They will lie cheat and rob you anyway they can to get one over on you . Yes there’s still good people who are tenants still but they are the exception most of them don’t like you the landlord and think your rich while taking advantage of them ! You will be despised no matter what . that’s why I don’t wear my 170$ jeans or drive my corvette around tenants . You’ll find me driving a dirty older truck with Levi nut huggers on and a dirty work shirt with holes in it . I threw somebody out right around Christmas and never lost a wink of sleep . It’s train or trained . Eat or be eaten . It’s a savage business . Don’t feel bad when they screw you over instead expect it !

Learn carpentry skills and buy up cheap fixer upper houses and owner finance them to renters with a large down payment for 10-15 year loans at 9.9%

@Caleb Heimsoth

Agreed . Get the repairs and safety things done first . Fix the leaks ..Don’t worry about that nutcase tenant who never cleans . Let them wallow in their filth as long as they pay rent . Is this a businesswoman make money .. or a community reinvestment building for mentally handicapped?

Any decent house I can buy for ten grand or less that makes me several hundred a month in cashflow I usually buy .