All Forum Posts by: Elizabeth Colegrove

I currently use apartment.com

Sure am.. how can I help :) 

@Brandon Arnett That is a super hard question. At first, I was going to say more likely in the beginning as you are learning and making mistakes. Which is so true... we made soooooooo many mistakes and had alot of .problems before we buckled down and really got our systems in place. Now with our 20 page lease we have gotten much better. That being said, we still have issues. Now it's just about numbers and probability. As we try new things and honestly just be in this business we are starting to run into issues just because of probability. Aka if this happens 1 in 1000 times and we have done it 1000 times we are hitting the issues :)

At the end of the day Real Estate is the best thing that ever happened to me. Without it I would never be in our current financial position.

@Tom Donnelly We have 4 airbnbs and it's the best thing that has ever happened to us. It's also an incredible amount of work. It's all about your goals. We use our current portfolio and it allows us to maximize how much each unit brings in. This way if something happens we are insulated as we would just turn it into a regular rental. Our airbnbs are cashflow and heaven and the reasons I have truly been able to propel myself. So.yes there awesome.

That being said they are 100% a business and not fo everyone. I have personally learned a long time ago that Real estate is not for everyone so I ignore the naysayers. I will say times do change. When we bought in 2011 everyone said we were crazy and now.... lol :)

The question is it good for YOU? Does your area work for you?

@Cecile Poyet I definitely think we are on the peak and are setting up for a dip.

We did a massive 1031 project over the last 3 years. We sold almost our entire original portfolio. We bought predominantly new builds in the newest best area. The rents were much higher, allowing every penny of the current equity to pull their weight. Aka 80k of equity is now making 2200 in rent instead of 1500.

We wanted to set ourselves up so if the market crashes we are good and if it doesnt we are also in a great position.

@Jay Hinrichs I totally agree with Jay. Blame it on the banks.

AGree with @Corby Goade did you get it in writing? I have kept deposits in the past as I had everything in writing.

Honestly my fees are 10% and as long as they pay it I consider the extra income to be my "fun money". Basically I make it high enough for it to be painful for them, worht it to me. All within legal allowances of course. 

This is why I have a $100 fee for every non-show/refusing to allow entrance to the house in my lease. 

Honestly it sounds like you have set the precident where they get to set the terms. Does your lease have anything about abandoment, vacancy etc. If it was me I would lay down the law and show who is boss. On the other hand, at this point in the game it might be WAY to late. I certainly would NOT let them set the terms :( 

Good luck

What state? How much? I know in California, at a price point everything must be probated :( So even without the second wife aspect, the fact that he doesn't have a will could be very problematic