All Forum Posts by: Dmitri L.

welcome to BP!

Would love to hear more about the types of deals you are working on

I am not a lawyer, this is not legal advice.

That being said, if someone hasn't paid as required by a lease agreement, I would think they are in breach of contract and the landlord should be able to get a judgement against them. I would also include any repairs in the shortfall as well, not just the last month's rent 

One of the podcast guests shared some relevant advice - even if they don't have any money and you can't collect right away, get a judgement anyway. Eventually they will be in a situation that requires getting the judgement off their  record/credit history, and you'll get paid

On the other hand, if you think there's any chance she might trash the place on her way out, maybe letting her leave is a good strategy.

Sounds like a conversation needs to happen.

Just my 2c

D

@Damion York

The deal sounds interesting, but the numbers don't add up. If you have the full details, could you please PM me? Thanks

-Dmitri

@Chad Tabor

Welcome to BP!

What areas of DFW are you focusing on? 

Best of luck!

-Dmitri

 Good luck! You will never regret starting early. On the other hand, most of us on here probably wish we hadn't waited quite so long to get started. Consider house hacking - buy a house and have room mates pay it off for you :)

@Damion York

The per-city average rents don't seem to add up. The entire portfolio would gross 2.6M if those numbers are correct

The overall avg rent seems to be 629/mo/unit, which is a bit low for a portfolio asking 5.3cap IMO..

Would the seller consider tranching in a different way? Instead of selling by city, would they be willing to sell for example 50-100 of the higher-rent properties?

Would appreciate it if you could PM me with more details. Thanks!

Dmitri

Wow would you care to share more details on the 82k profit deal? I'm assuming that was not a 100k ARV? Hehe

D

Two options:

1) Get creative

2) Find another market

There are many tips you can find on BP for (1) - in fact, there was a recent podcast on strategies to find deals - but it's likely that most of the well-known ways or anything that could be suggested in the forums, will already have competition in our area.. You need to find a niche to make your OWN.

Just my 2c

Dmitri

 Welcome to BP! Whereabouts in TX do you invest?

Don't give up on the complex just yet, if it's a good deal. Your capital stack doesn't have to be just bank loan + your cash. Would the seller be willing to carry back a second for 20-30%? Could you find a private lender or an equity partner?

Good luck!

Dmitri

@Account Closed

Welcome to BP! 

How long have you been investing in DFW and what has your experience been like so far?

I currently have one rental in Arlington, and planning to aquire several more over the next year

Dmitri