All Forum Posts by: Jack Luzecky

Tenants should be held responsible for duration of lease until you find new tenant. My team and I handle it this way and tenants are for the most part very understanding. 

@Todd Powel Fair Housing does not allow the landlord to require documentation for a 'service animal' (i.e. helping the blind) nor can you inquire about their disability unless they tell you.  Fair Housing does allow you to ask for documentation if it is an 'emotional support animal' (i.e. anxiety). Either way, the landlord still can't collect a pet rent or deposit, but still liable for all damage once vacated. 

When it comes to sneaking in a pet immediately after being approved...maybe add something to your rental criteria stating an applications must be filled out and correct. My thought is, if they lie on the app and then say they have the pet (service/emotional), it would be grounds for a denial assuming you treat every case the same. All the best of luck Todd!

@Scott Moulton thanks for the tips! I will definitely ask for a company guarantee to supply to buyers. Great idea! I have heard some horror stories though as well. A house in the Lindbergh school district (large ranch) has gone through multiple stages of pier installation.  The original piers did not fail, but they keep having to add more piers! 100k later, and they are still dealing with the settling issues. With a smaller s. city home (square shape) I don't see it playing out like this...but you never know! Thanks again, Scott!

Hi all! I am currently looking to purchase a home with significant settling issues in St. Louis, MO. The house will need piers, and my guess is it will cost about 20k. Its been sitting on market for a while and i believe most are too scared/don't have the capital to fix the issue shortly after closing. Fortunately, i do have the capital to take on the project, but worried about what future buyers will think. Assuming the piers do their job, and the structure of the home is sound...will this scare off buyers still? Does anyone else have experience selling a home that has had piers installed? Any and all advice would be greatly appreciated! I thank you fellow BPers in advance!

Put it in a bank, the interest alone will bring in more money than you know what to do with. 

Try Mary Keese @ Title Partners Agency. What a QB 

@Evan Anderson Welcome! I am also 22 years of age, and been out of college for the past year. I did not know what I wanted to do in life, but then I found BiggerPockets and quickly realized real estate investing was the way to go. I have been living with my parents for the past year (maybe 14 months) and have saved close to 50% of my income,  roughly 15k. My goal in the beginning was to buy a duplex and house hack. My goals have changed these past couple months. Now I am a licensed realtor, and want to dedicate some time towards commission based sales.  Doing so, i feel as if i won’t have the time to deal with tenants. I am now looking to buy a single family home (10-15% below market value), and perform a live in flip in 2 years so that i may have the option to sell tax free gains. If i do not sell, i will look to refinance, take that cash and purchase a multi-family. 

When you are looking at on market listings, you will need to be quick. Wrap the property up by submitting a contract with contingencies (inspection, appraisal, etc.), and then renegotiate if needed. 

Off Market deals are where you may find a property with more favorable numbers, but will be much harder to find. Network with those here on BP and local to you. 

As mentioned above many times, find what fits your goals. If you aren’t positive what your goals are, listen to the BP podcast. The guests interviewed, cover just about every single niche in the real estate industry. Each episode has priceless information. 

Good luck! 

@Chris Maudlin Multifamily rental rates in the St. Louis region have risen over 14 percent since 2014. 

Congrats @Caitlin Lambert on taking the first step into real estate investing. Currently looking for a south city SF home for myself. How hands off are you trying to be? Property management contracts can vary when it comes to how hands off you are. Some can be full service: pay bills, maintenance, lease and provide consistent customer service. Others may give you the option of taking care of maintenance while the PM company will take care of accounting, leasing and many other tasks. Shop local PM companies and create a custom packaged management agreement. 

Good luck with everything to come! 

Day trading crypto, especially in a trending market, is quite easy.