All Forum Posts by: Gregory Dillon

I thought they did before and was trying to do a new month month lease and couldn’t find the tab to do it so I called. The guy I spoke to said we can’t do month to month leases.  It seems like there isn’t just one perfect platform! If anyone knows of one I’d love to hear about it. 

I was using Cozy before the switch and I hated that they didn’t have a way for tenants to submit maintenance requests. After the switch my tenants had some issues at first setting up apartments.com but after those hiccups it’s not bad.  I do hate that you cannot do month to month leases with apartments.com. So I use ezlandlordforms.com for my mid-term leases. 
I’d switch to rentredi but it’s just to much of a hassle and some of my tenants are older so tech isn’t their thing.  

Investment Info:

Townhouse buy & hold investment in Fayetteville.

Purchase price: $84,000
Cash invested: $21,000

Currently being used as a mid-term rental for traveling nurses. Renting the master for $950 a month and the 2nd bedroom for $900.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Conventional financing

Thanks man yea things are going well. Just hired a property manager today so that will definitely help! The tenant in the commercial building weathered it all pretty well. Now if I can get the two other floors rented then I could breath a little easier! 

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Oh the hard part, introductions! Well I am currently in the Army, retiring in 71 days! Whose counting though. We currently own 4 properties, 3 in Pennsylvania and one in NC. I got started by buying a huge commercial space with plans to use some if it for myself. Well life happened and that didn't go as planned. The first floor tenant covers the mortgage and taxes, thats it! All maintenance and repairs are out of pocket. Yea lesson learned. 2nd property is a three story mixed use space, first floor commercial, and 2nd and 3rd floor apartments. That has roughly a 11% cash on cash return. Would be more but the 1st floor has been vacant almost the entire time we have owned it. 3rd property is well was our primary residence but will be turning it over into a duplex and renting it out at the beginning of the year. 4th property is a SFH in NC that is currently a rental but will moving back into it in February. So yea its been a rocky few years with the properties in PA but we have survived and have not been turned off by real estate. I want more! lol. I look forward to reading all these forums and continuing my real estate education!

Well you think after after buying a 30,000 sq foot commercial space that has caused nothing but stress I would have said hey let me get educated on this real estate thing. Nah! I then turned around and bought a mixed use space, commercial on the first floor and one apartment each on the 2nd and 3rd floor. Cash on cash return? Cap rate? ROI? Ha! No clue what any of that was when I jumped into these "deals" a few years ago. I have to say if it wasn't for BiggerPockets I would still have no clue what I'm doing! Now we have 4 properties with 9 doors. But still feel like a newb! Oh btw anyone want to buy a 30,000 sq foot commercial space?!

Getting back to Fayetteville in December and definitely looking to add some more investments to our portfolio.