All Forum Posts by: Jason Gilbert

I have dealt with 3 sec 8 tenants. They usually fall behind on their portion, whether it’s $50 or $500, and they’ve all destroyed the houses. But… they all have the latest and greatest cell phones, TV’s, and gaming systems. 

Myth: the last recession was really bad for all real estate

My property values went down 5%, maybe 10% max and then skyrocketed in value on the recovery.  My occupancy rate during the recession was as high as ever.  If we purchase properties in locations with little risk of extended vacancy or with high intrinsic or added value, we should do fine regardless of market conditions.

I'm new to investment myself. Currently only have passive investments in a few other states. I'm very interested in learning from you folks who are doing it. I'm grateful you posted this here and got this conversation going. 

May I ask how you funded your deal? I'm curious as I'm new. Only making smaller investments at the time but really looking forward to going bigger soon. 

 Are you looking to buy and hold or flip it or what exactly? Like Logan said the market may soften (due to interest rates), but prices are not going down. Even if they do, they'll always come back up and eventually surpass what you bought them for. Don't use this as an excuse to buy a bad deal, but check out the below link.

Also, congrats on the duplex! Where is it?

No, you do not have the right to terminate the lease agreement since the agreement is not between yourself and the tenant. The tenant has the right to the lease they signed, regardless of what it says, until the end date. After that, they will either leave, you can have them sign a new lease (with your terms), or have them go month-to-month. Once they are month-to-month you can raise rents, give them 60-days notice to vacate, etc.

You could offer them cash for keys when you take over the lease. If you are unfamiliar with what this is, it is when you basically buy them out of their lease. "I'll give you X dollars to sign this contract agreeing to move out early by Y date."

Do you have a property in mind? How much longer is left on the lease? Utah's appreciation is nuts right now. Depending on how the numbers look, it may be worth it to eat the $500 loss until the lease is over if the property is appreciating more than that each month.