All Forum Posts by: Dennis Wayne

@Wayne Brooks

I would tend to agree with this as well .I don’t care how many folks you can pack in the building or what the rents coming in are , they are going to be getting comps off whatever other small multi family are in the area .

I’d first Ask those hard working lower income folks if raising their rent will have a positive or negative “ impact” on them lol personally I’d rather have a positive impact on my bank account numbers before I tried to save the world or the whales or whatever

@Joy James

Core values in any business are to make profit for you and your share holders , if you are running a charity then that’s different . These types of people love hobby landlords like you I bet ! Do you have any other units vacant open now ? I’d love to come over and live for free on your dime myself

I try to put heavy set folks in upper apartments . The stairs are tough on them but they usually like it cool in winter which saves on heat and the complaining

If your property isn’t damaged I wouldn’t worry about it . It’s really not your responsibility to keep the neighbor happy however I’d just ask if she’s ok and inform her that you can’t have the cops showing up in the future . You can’t get involved in baby daddy issues your just the guy that owns the building

@Mark Fries

Agreed

600$ on 100k investment ? Horrible return

Bought them free and clear with cash ,in all fairness some were with private money partners . mostly to lease option and owner finance to folks who can’t get a bank loan , I’m  not interested in running rentals as I have 3 kids and work a lot at a full time w2 job  . I bought most with my own cash about one every three weeks or so , very few were over 10k though . Usually they are decent livable 2-4 bedroom homes in reasonably safe but depressed areas . My farm area i buy them in I prefer not to disclose . I have no college education  , certification, and not qualified to really do anything so I figured I’d just buy up as many as these as I can .I plan to retire and be financially free next year at 44 

I think I Bought about 20 single family homes this year so far ..hope to double or triple that amount next year

That is one of the reasons I don’t get a realtors license , I don’t want to be liable or answer to any organization .I don’t want to have a requirement to reveal I’m a real estate agent when selling or buying . It’s nobodies business in my view