All Forum Posts by: Jane S.

Because i sold 2 props last year and am extremely frugal, im buying cash flow with big down payments. where else can i invest that i know so much about the investment? i'm not into the stock market or other vehicles. i wish i could pay all cash but thats a bit too risky, OPM is a rule for my decisions. Anyway I don't have that much cash ... I still think its a good time to buy now, even in distant locations. But college towns seem very pricey now.

The 7% interest rate I'm seeing, even with a 30% down payment, credit score 810, is really gobbling up cash flow. The most frequent advice I get is to bite the bullet and refi when rate goes down. But will it go below 6.5??? I do have cash for squeezing down the rate. There are incontrovertible reasons why I would like to see cash flow from my next SFR -- and, we had a tax hike which also reduces cash flow. Not to mention way higher Homeowners due to increased RE values.

Any lenders out there who might have some interesting ideas please post your contact info.

How many of you vote for sitting out till the possibility of CF from LTR is more real? What other ways are there to make my $$$ work?

getting started is ultra challenging and you are entering at a perplexing time due to sharp property value increases, punitive interest rates for investors, and the always elusive cash flow. we're used to instant results but that's not gonna happen when you deal in properties worth thousands. Youre 43? I started at 68!!!! You should do some schmoozing with folks, real estate is the hottest topic at any party or gathering. I've been looking at houses recently but backed out of 2 contracts after realizing they had NO possibility for cash flow, and why should I deal with snarky tenants AND end up paying THEIR rent??? Now is a perfect time for you to remain unencumbered and in research mode. Dont quit!!!!!!!

Planning to tell them the sweeping changes in the local RE environment demand changes to my business model including the property must be vacant in order to proceed. Yes they annoy me but I would never tell them that.

I looked up other advice on BP and it was 90% just inform tenants the date of move out, no need to explain why.

Many thanks for your opinions, but tenants have disrespected the terms of the lease. They repeatedly read my miknd--telling me what I am thinking about them when I have never expressed such negative ideas to them. 

 I am not sure what direction I will go with this property but in order to clarify my decision I need it vacant. 

If I dont make it clear the exact time for them to be moved out, they will be there until midnight, I am afraid. They do nothing but shop as they are borderline hoarders. The only clear space in this 9-room house is the garage.

Frankly I was surprised at their response to a simple statement of fact. End of lease = end of tenancy. Seems easy to understand.

I have read other landlords' expiration notices and they are all very similar. Usually I introduce the idea via a phone call, but I can't risk that with these folks.

They dont have financial abiity to buy a house. Their income won't stretch to a higher rent (1 teacher, 1 assistant, 2 homebound adult males who are "disabled" and not getting gov. assistance). The primary tenant qualifies for SS income but refuses to pursue it even though I repeatedly suggested she work on her SS docs.

The tenants' lease on their rental expires 12/31/23. I sent them a notice that the lease is expiring and they must vacate by 1 pm on 12/31. (I'm required to give them notice 90 days before the last day of the lease. )

They questioned why there is no mention of "signing  a new lease". So they wrote, that they are assuming that I "no longer want them to continue living there". 

How would you respond? The rental market has changed dramatically since they moved in 20 months ago. I would prefer to have the property vacant in case I decide to sell or change other terms.  Am I required to explain why I consider the end of the lease also the end of their tenancy? 

If I decide to rent to new tenants at a much higher rate, can they take me to court for refusing to renew them?

How can I respond without causing them to do damage because they are angry?

Most tenants don't argue about moving out. But they do leave premises in unsavory condition.

Thanks in advance for how you solved this or would solve this without tenants' bad feelings.

My broker and I are really fed up with the overblown claims about all these wonderful properties presented in the listing. Then we go there and its a big disappointment! I want to call either the owner/seller or the listing broker to find out how close the property is to rent ready. The assessors database has basic facts for the property but I'm looking for much more in the habitabiity and safety features. When I get one UC I want to carry out the inspection prior to the earnest deposit payment to avoid hassle in getting deposit back in the event it doesnt pass. If the property has really been carefully maintained and there's almost no deferred maintenance the seller should be willing. Also we prefer occupied units so we have an opportunity to chat with the owner or tenant. Your take on this?

Funny, I had the same cash to invest after selling a rental a year ago. Here in Colorado Springs there were no houses I wanted to buy everything overpriced, rundown, needing mucho upgrades, no cash flow. So i invested in a couple of DST's, IRS approved, as a 1031 exchange and they pay me about what I am used to making in cash flow on a rental, but there's no aggro! Truly passive investing. Of course the money is tied up for 5 years but I dont need it. I would have lost the use of a portion of the cap gains if I had bought another SFR anyway. Hope this helps. Investing out of state, even out of town, scares me no end.