All Forum Posts by: Greg Smith

 I do that for tenants who get paid monthly on the first.  It keeps me first in line. Before I added those few days I battled with tenants who were out of money.  I know they should be able to manage money better, but we're both happier if they can mail it on the first or second and not be late.

 it might be worth the few bucks this time to pay for Cozy's faster processing.  It will save you in the end if it lets you start eviction sooner.  I think it's only $3

This article just came up on my feed and I found it compelling. If you really can get 8% dividends and equity appreciation with less risk and less work, why wouldn’t I do this?  I haven’t verified the guys specific claims, but generally, is he right?  It seems like what I can do to come out ahead and achieve greater gains involve leverage and finding great deals for instant equity.  Thoughts?

https://seekingalpha.com/article/4228231-buy-real-estate-buy-reits-instead

I bought my first house in Portland earlier this year.  I’ve had a bad experience.  I had a crazy person break in and claim the house was his.  People dump trash in front of my garage in the alley and multiple times ive found drug needles when cleaning up.  It was hard finding a good tenant but I hope I found one.  So far it has been much worse than my experiences further south.  Anyhow, I’ve been unimpressed by Portland and regret buying there

@Jay Leisten

What sort of terms did you get from the hard money lender?  Was this your first time working with them?

@Allen Jones  @David Sullivan  @Tammy Harris 

I have had a rental house for about 10 years and west Lou rentals for 4 years. I have 2 east end homes that barely cash flow but have appreciated well and 5 West End homes that cash flow but are a hassle. I have at least 20 times the maintenance requests, tenant calls etc. from the C class homes.  I do virtually nothing for the nicer 2 houses.  No tenant turnover... if I only had those two I wouldn't feel like a landlord except when noticing that money appears in the bank.  In west end I have evictions, Section 8 inspections, tenants complaining about being cold (when the house is literally 80+ degrees).  But:

East end $300,000 in houses yields $2500 / month

West End $120,000 in houses yields $3300 / month 

Much of that east end value is in appreciation but you get the idea.  I aspire to have a dozen or so in nicer areas but I need the cash flow right now, so here I am.

I don’t have property there but am pretty familiar with the area.  Beechmont and the Southern Pky area are desirable and up and coming (maybe already here and past) but much of that area has lots of drugs and seems to be trending downward.  Cloverleaf (that might be 40216) was a great working class neighborhood 10 years ago but as the old oo’s die off, it has slowly been going downhill.  Fern creek, okalona and j-town get better tenants and have more potential for appreciation in my opinion.  But that’s why you’re getting better cap rates I guess.

Do you listen to the podcast?  There are books recommended each week.   I have a list of books to read a mile long from that.  A good one for starting out is Brandon turners “ The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate Investing”. You can buy it on this site or get it from your library 😁

I’d be interested in recommendations for Airbnb management in Louisville also.

I just bought a house and the long term tenant is moving out.  How do I minimize vacancy?  I need to:

1) get rid of the tenant,

2) get rid of all the old junk, 

3) clean, 

4) repair, 

5) paint, 

6) find a tenant, 

7) screen prospective tenant 

8) get them in   

It seems like I have to do it in that order, right?  I could potentially advertise early but I wouldn't have pictures until the house is in order.  Is the answer just to work fast or are there tips of the trade and best practices?  does anyone have a process manual you follow to make sure nothing is overlooked?