All Forum Posts by: Isaac Pepper

@Berdine Ramos

One of my tenants pays 6 months at a time. However he runs a company and has employees stay in it when there are in town.

No issues and I have a deposit on top of that.

I would do this with an individual all day, walk away and forget about it. I've chased too much partial payments to not collect it all at once.

@Korey Harmon

Join a meet up

Approach PM companies or RE brokerages with something to offer to them just to get in and rub elbows. Posting 3 day notices, answering the phone, hell just lunch runs or just take the trash out. Connections will fall in your lap.

@Anthony Gonzales

In this situation, I just stay my lane. If I get calls or the neighbors come up to me while working on the unit, I refer them to their representation paid for by their tax dollars. "Call whoever you need to, but that ain't me."

@Abraham Shamosh

Completely depends on your own strategy

I have a property I'd like to purchase with a cash offer, however I dont have adequate liquid cash. I do have the funds tied up in another property that's free and clear and am now seasoned and done renovating. I plan to cash out refi, but want to move quick to get this deal before it moves to the MLS. I have a contact that is willing to lend me the cash until my refi is complete, but asks that we place a lean on the new property to secure his funds in the event that I die.

I am having difficulties finding out how to file a voluntary lien on the new property. Surely many people here have done this. What steps am I looking at to complete this? All parties and properties are located in Ohio. Thanks in advance!

Tags: lender money private mortgage legal court recorder code finance credit

@Cory J Thornton

With no agreement in place, serve notice that you are no longer renting to them and if needed evict. Make the unit fresh---but not above average for the area and start fresh with a screened tenant. Lot less stress and run-around this way and greater returns.

Or

@Andrew Perillo

I have never seen someone cut out a damaged plank. Not sure how that would even work. I have taken the trim off where necessary, removed the planks until I get to the damaged one, replaced it and reinstalled all the others back to where they were. Resecured the trim and done.

@Ryan Martin

I think Roy explained it best.

Even better if one of the residents of a MF will do the work for a discount and takes pride in it.

If you honestly plan....or end up doing these tasks, how will you ever scale?

@Gualtiero Piccinini

You'll get the judgment. But will you collect? Probably not. Will a collection company collect? Probably not. And if they do, they'll take at least 20%.

Find and execute something that provides greater return and is less stress.

@Matiullah Quraishi

Speed Queen has led the way for years and still offers laundry machines with mechanical timers and switches. The only repairs you'll really see on these is wearing items like couplings and such.

Even buying a used set can save you in the long run. Especially for communal laundry where lots of tenants use the same machines. You'll find a lot of coin-OP SQ machines as well.