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All Forum Posts by: Gabe S.

Gabe S. has started 5 posts and replied 38 times.

Post: Tenant taking advantage of moratorium

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Nadir M. The moratorium is based on inability to pay rent because of economic impact from the pandemic. You can evict if they are “playing the game” or for any other infraction of the lease. Presuming you’re property is in a landlord friendly state. If you’re not, then yeah- I see how you can be frustrated. Good luck!

Post: I feel like I made a mistake

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Greg M.

Fair points. My view is that if vacancy rate of 5% vs 3% vs 7% makes a go/no go difference then it’s probably not a good investment deal. IMHO.

Post: Would you do this deal?

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Bud Gaffney

I used poor choice of words saying that it's always a bad deal if seller desperate. Such cases are often good deals —- WHEN THEY SELL AT A DEEP DISCOUNT. That's not the case here. Your NOI is very slim to nonexistent. There's all sorts of red flags for me on this one.

I’m curious what ever happened since this was about 18 months ago or so.

Post: Lifestyles Unlimited

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@William Thomas

I see LUI folks talking about the PIG level. Any thoughts on their Challenge Level (SFHs)??

I use to be a FFP member at about $250/year as I recall. I got value out of that (online) training. It was pretty good. I saw a lot of the donts when comparing their model to the 2 places I had at the time. Since sold them.

But am thinking about joining at the Challenge. Anyone LUI members have thoughts on it? Are the SFH deal flows decent? Good history with their vendors etc? Curious.

Post: Trump bans evictions through the end of 2020

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@John Farady

Great info. Thanks to everyone for posting.

Any word on what happens if there’s a lease renewal in the interim? Do leases have to be renewed?

Post: Would you do this deal?

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Bud Gaffney selling it for the amount they financed and seller financing is a double red flag. Seller financing isn’t always a bad thing but if the “marketing of the property is pushing it” then it often means they’re desperate to unload. If they’re desperate.... 9999/10000 chance it’s a bad deal.

Post: Would you do this deal?

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Bud Gaffney. Owner financing in this market is a HUGE red flag. Even at those rates.

Post: Paying For Mentorship Programs

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15

@Benjamin Manibog that’s ridiculous. As a rule, the higher the cost the bigger the scam. This one screams scammer!!!!

I’m looking for a trustworthy handyman that can serve Eden Prairie area. I need someone TRUSTWORTHY (and of course knows what they’re doing). Need to do a “tenant get ready” / “turn service”. Paint, caulking, basic fix whatever odds and ends, etc. Any recommendations welcomed!!!! Thanks, Gabe

Post: Southwest Minneapolis 3rd Monthly Meetup!

Gabe S.Posted
  • Vienna, VA
  • Posts 41
  • Votes 15
Dave, others.... I have a rental in Eden prairie. I’m looking for a trustworthy handyman. Any referrals appreciated. Good work and trustworthy being key. Thanks!!!!!!!!! Gabe