All Forum Posts by: Hernell D.

Run the numbers... men lie, women lie, numbers don’t... if the numbers say it’s a good investment do it don’t listen to your heart in situations like this

Good Luck!!

Tenant screening is one of the most important aspects of real estate. Set your expectations for income and credit score and a lot of times that will weed out people that know they don’t meet the standards. If they don’t know their credit score have them go on credit karma they’ll know within 10 minutes. Take control of the process if they don’t want to comply they don’t want to rent from you.

Adriel Liwag that looks amazing! Great Job! I’d love to potentially get involved in a future flip. PM me if you’re interested

Caffeine’s a drug, Tylenol’s a drug, Marijuana’s a drug. All can potentially have negative effects but all can have positive uses if used correctly and responsibly. If you have reason to believe this guy is selling weed from your property or dealing drugs in general get them out of there but if it’s a prior charge for potentially having a little weed in his possession you might want to rethink kicking them out. It’s your investment and your rules but keep in mind all “crime” is not created equal.

With the end of 2017 upon us and tax season quickly approaching, what general tax strategies should investors, or those looking to invest, make sure they take advantage of in order to get the greatest return and set themselves up well in 2018? I’ll start with a simple one.. Make sure you make charitable donations. We all have things we do not need and not only can it be a tax break but it can really help people in need.

Here’s one more vote for moving the tenants due date to the 10th. Life happens and although it isn’t your job to take care of your tenants short comings or lack of budgeting skills it shouldn’t hurt too much to move the due date to the 10th. Also something to think about is if your tenant cant realistically afford the rent increase that you have coming in the next couple months. I would definitely raise rents regardless of if he could afford it or not but I’d give him some leads for finding a new place that he would be able to afford so I know I’ve done my part to make sure he and his family aren’t homeless. There’s only so much you can do for people to ensure they have a roof over their heads.

I’d just reimburse, especially if they’re a good tennant... losing a couple hundred on buying new food costs a heck of a lot less than a disgruntled tennant who decides not to pay their rent and you have to evict

Your plan looks great the main advice id give you is to make sure you plan for worst case scenarios. Things will happen that you don’t expect but if you’re prepared for the worst you won’t be thrown off too much and you’ll be able to keep on your 5-10 year timeline. Good Luck!!

If there's a written contract follow what is outlined in the contract. We use the word friend too loosely... What kind of friend would knowingly take advantage of you and this situation? You may have shared interest and may even have good conversation but a friend doesn't treat a friend like that