All Forum Posts by: James Mattern

@Mike Fontaine - I have had this happen to me and I have not taken the money. In my opinion, it is a red flag for two reasons.

This is a tactic that a lot of bad tenants will try. They hope that if they wave a ton of money in front of the landlord, he will just grab the money, hand then the keys, and not go through the tenant screening process.

Lastly, tenants are notoriously bad at budgeting, saving, and managing cash flows. Because they gave you all this money up front, they probably don’t have much left to handle any unexpected problems or bills.

One of the most important things for a new tenant and landlord relationship is to get into a good rhythm of the tenant getting paid, paying rent on time, and paying bills on time.

@John Moorhouse - There are many reasons you want to stay in school and at a minimum get your High School Diploma.

1. There may be the opportunity to work on non-tradition subjects that can help you in real estate. Subjects like accounting, writing, technology/web design, public speaking, and financial literacy will be critical for success.

2. Real estate success does not happen in a vacuum. To be successful, you will need to work with others such as contractors, government officials, tenants, mentors, bankers and investor partners. To work with people like this, you need credibility. Dropping out of High School (regardless of reason) will be a black mark against your credibility and it will be that much harder to convince these partners to work with you to grow your real estate portfolio.

3. Be patient. The housing market is very hot now and there is a good chance that the market will soften soon. By the time you graduate, there is a good chance there will be more good deals out there. Plus you will have two more years to scrimp and save and build your capital base and you will be better prepared to act when the market softens.

Good luck.

To All-

Hello, my name is James Mattern. I am a real estate investor based in Allentown, PA.

I am looking to extend my network and knowledge base with respect to property management, financing, and acquisitions.

Over the past five years, I have bought, rehabbed, financed, and leases 24 single-family homes in Allentown but I am always looking to learn and give advice to those who seek it.

Thanks!