All Forum Posts by: Jeff Brown

@Ryan Alexander let me know if I can help in any way. Think you have a great idea and I am looking to do the same with a partner myself. There is a guy close to the dam who has a small lot with 5 pads full hookup. He gets $650 a month per pad. If you need some recommendations on clearing the lot let me know I can help you find the right person.

@Ian Kurela thank you for the recommendation. I will give them a look and may lean on you for some more guidance. Thanks again!

Hey guys! I’ve become very interested in becoming a wholesaler over the past several months. I’m a licensed real estate agent here in Georgia. I’ve listened to several BP podcasts episodes on the subject as well as read numerous of articles. I’m wanting to become more educated on the subject. Do any of you guy recommended certain courses or books that would be beneficial? Also any other form of advice would be much appreciated! Thanks! Jeff

@David Hildebrandt no there was never a new leased signed. The only thing that has me hesitant on moving their stuff out is that there was an agreement between the husband and me that he would move in after she left. Since she kept stuff there for him I thought I wouldn’t be able to touch it unless I was granted a writ of possession by the judge. Thanks for your reply!

I recently purchased my first multi family property (2 townhouse duplexes). I closed on the property on July 2nd. Rent is due on the 1st and late by the 5th. Everyone paid on time except one. After multiple calls and text on the 6th I finally get an answer that she is leaving. I inform her that she has to give me at least 30 day notice (GA law). Obviously she could care less. She drags her feet and finally leaves on the 15th. Here is where I messed up. So on the lease it includes her and her now ex husband. They are recently divorced (June 2018). So sometime In June she kIcked him out. The husband approached me around July 12th and asked if he could move back into the apartment after she left. I agreed to let him move in but he would have to pay a new security deposit and rent would be going up. He agreed and everything was set for him to move in on the 20th. Since then it’s been a back and forth “I’ll be able to pay you rent and move in tomorrow blah blah blah.” After all that he decided yesterday morning that he wasn’t going to be able to move in since he couldn’t afford it. Here is the kicker. The wife was going to leave a couch and a bed for him for when he moves in. She instead leaves everything plus a huge mess. She turned her keys into me the day she moved out. She has yet to pay me July rent. Like I said both names are still on the lease. Do I evict them? Or is there a better route? I need their stuff gone ASAP so I can get another tenant in. This has definitely been a good learning experience for a newbie investor. Regards, Jeff

Brie Schmidt thank you so much for your help!

Brie Schmidt

What about a private money loan? Would they look at it any different or would that still hurt my DTI?

Hey guys, I've recently came across 2 duplexes that are exactly what I'm looking for. The owner is selling at a great price. All four units are occupied and it cash flows great. The only problem is that I'm a little short to cover the entire down payment. Has anyone ever financed the down payment? I ran some numbers and if I get a decent rate I will still have enough to save for expenses but, my cash flow is a lot lower. Any feedback is appreciated! FYI house hacking is not an option. Jeff

@Joshua D. @Andrew Postell @Tom S. Thanks guys for the feedback. I guess my original thought of 10% down is probably an old number and hard to get those terms in today's world. 

The house was bought as a foreclosure over a year ago. The buyer now owner rehabbed the property putting new flooring and painting (basically gave it a face lift). The house is a 4 bed 1 bath and may have potential to add a half bath. I plan to get $600 rent. The purchase price is $77,900. His asking price is a little too high personally. My numbers show that the property doesn't work at that price but, it can work if we go a little lower.