All Forum Posts by: James Tasso

@Diem N.I would just have it cleaned...If you tell the tenants to pay they may not. My mom had a fire start in her garage over the dryer lint. @Greg R. Like Greg said it shouldn't be too much to take care of to prevent a potentially disastrous thing from happening.

2 Votes

Sacramento, California

@Patrick Britton It is always frustrating working with agents who do not meet expectations. I have worked with agents in the business for 20+ years who also have seemed to lose a step. I don't think being newly licensed with a background in cosmetology or whatever is an indicator of an agent's ability to perform. I have also worked with awful clients who were rude, condescending, and didn't understand as much as they thought they did.@Joe Villeneuve I can understand the hesitancy to refer people. I have also worked with some amazing people, who got my job handled, and so I referred them to others and they didn't have the same experience as me.

2 Votes

Chicago, Illinois

Quote from @Terrell Garren:

I'd sooner rent to a convicted felon with a 400 credit score, a tattoo on his forehead and a stolen car than deal with Bitcoin.

Lol I am dying over here!

0 Votes

If Shiba Inu Takes off I will be a very very happy man lol

1 Vote

Quote from @Jim K.:

@Aryan Strauss

Dude, if I had a dollar for every smoking tenant who insists, just like you, that they NEVER SMOKE IN THE UNIT...they always lie. I'm not saying you're a liar, I'm just saying you'll find your argument has a very poor track record in general. I used to smoke myself. I used to be a tenant. And, hell yeah, I lied, too. When it was pouring rain out there, I'd put in a box fan in the window, sit behind it, and blow my smoke out through the fan. I couldn't smell it in the apartment. I thought no one else could, either. Until I quit smoking. Then I realized my little one-bedroom reeked of stale tobacco smoke.

If I lived 70 miles away from my unit, I wouldn't want someone like you in my property, either. It's nothing personal. You're just a bad bet, and the longer you stay, the more pervasive your stench will be in the unit. Even though you don't probably smell it (again, I never did when I smoked), your clothes stink, your fingers stink, your breath stinks. The miasma of your smoking (even outdoors) lingers indoors and sets in for people whose sense of smell isn't trained to ignore the stench. It will cost money and effort to get rid of that stench permanently.

@Jim K. I had a rollercoaster of a time reading this lol. I thought this response was sensational! Your past smoking experiences helped balance out the harsh realities. I would also probably just find somewhere else to live where they aren't as hell-bent on their stance. I think a lot of people do smoke only outside now... back in the 1980s and 1990s probably not much lol.

1 Vote

Provo, Utah

@Wes M. Nice Job man! Love the hustle!

0 Votes

@Thiago Oliveira Well I think it depends on your deal, to be honest. My concern would be for example cash flow when rented. If the total price of the deal including rehabs gets too high that could affect how the property cash flows. It could also affect your return on investment.

0 Votes

@Cole Agnew I think I would close then Cash Out Refi after 6 months. If you bought at 140k then your mortgage on the property is for the 112k. Instead of trying to do all of that work, I would have closed on the property, and BRRRRed that baby lol. Then you know appraisers should be somewhere in the ballpark of 157k for the CO Refi (they might come in lower). If you find a lender willing to do a 80% CORefi then the lender would offer you 126k on the cash out... pay off the 112 you owe and give you about 14k cash to invest or use to cover CapEx stuff.

0 Votes

@Robert Williams See if they offer you protections in case you become disabled, unemployed, or worse die. My personal loan had those options.

1 Vote

@Javier Rosales

Hey there!

There are rent control laws everywhere. In LA City you can raise rents 3-8% depending. BUT like @Malcomb Stapel said, you have to wait until their lease expires. LA CITY RENT CONTROL

Hope this helps!

James

2 Votes

All Forum Posts by: James Tasso

James Tasso has started 3 posts and replied 30 times.

Post: Dryer Vent Cleaning - who pays for it?

Post: When providing a referral to a valued client, never do this:

Post: Bitcoin is 10k again what are you going to do now?

Post: Bitcoin is 10k again what are you going to do now?

Post: Evicted for smoking off property?

Post: Deal Diary -- Wilmington, NC LTR -- 18% COC -- It can be done!!

Post: Calculating rehab numbers

Post: Is this a viable, and legal, strategy?

Post: Questions to ask Lenders

Post: Legally, how much can I raise the rent on a tenent?