All Forum Posts by: Jeremy Mangen

@Thomas S. @Ned J. 

I 100% agree with you guys. I did contact the other tenant just to see if everything was alright, I’m worried it was a domestic issue of some sort. 

I told the other tenant to call the police if she feels unsafe and to let me know. I’ll be reinforcing that there’s not much I can do but if the offending tenant breaks the “peace and quiet” part of the lease I’ll have to evict her.

That’s very helpful advice, thanks guys!

My lease pretty specifically says that tenants need to handle their own issues together and not get me involved unless it becomes dangerous. Which is what I’m worried about as the tenant that reported it said one of the men got hostile when she asked them to quiet down. But I definitely don’t want to get involved if I can avoid it.

I'm just curious what other landlords have done to handle this odd scenario.

I'm a new landlord and I just got my first duplex completely rented out. I was told last night that there was shouting and doors slamming and all that drama stuff happening in the common area in front of her unit (its an up/down duplex and they were fighting at the front entrance in front of the first floor units door). 

I asked for more information and then sent an email to the other tenant asking her if something was wrong or if there's anything I can help her with to prevent this from happening again, but how would you handle this? Especially if it happens again. 

I will be installing a security system but if a tenant lets someone in I can't stop that, but there are a lot of kids living in my duplex and I'm 100% vehemently not ok with fights happening in a family friendly building.

Thanks guys!

Excellent information Tim! I was unaware of those differences. Mentally filing that away. Thanks!

I’ll keep this stupid simple.

Network like your life depends on it. And then try to provide value to the investors in your meetups.

Invest money into taking them out to dinner, invest time into working with them on their projects for free, just get yourself in the company if those doing what you want to do. If you go to 3-4 networking events a month and take 3-4 investors out to coffee every single month for the next year, you’ll have incredible options to move forward. You’ll be established in the community as “the hungry 18 year old.” You’ll earn respect and at some point you’re going to really connect with an investor who will be willing to mentor or help you out in some way.

After you’re established in the community you can start trying to find deals and bring them to your investor friends to see if they’ll work the deal with you for most of the profit.

Wealth building is a team activity. Get your “unofficial board of advisors” together and hang out with those whose mindsets are where you want to be.

What are the best was to find financing? I think all investors hit this point in their career where they have depleted capital and only 1, 2, or 3 deals and that’s it. Lack of experience and lack of financing. What’s the best way to scale from that position?

Welcome John! I'm pretty new myself, I just bought my first house hack in December and I'm working on getting tenants in it now. There are definitely options out there but it is rougher! Dont be afraid to think outside the box and try to find off market deals. Make sure you have a investment friendly realtor, if you dont there are so very many amazing realtors I can recommend on this site. 

If you ever want to meet up and chat real estate let me know! Good luck on finding a property and just do not stop looking. As Brandon Turner always says, evaluate 100 deals if thats what it takes before making an offer on one. Happy house hunting!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Minneapolis.

Purchase price: $248,900
Cash invested: $8,800

Househack triplex, living in third unit renting out other two.

What made you interested in investing in this type of deal?

I was searching for a househack and a triplex where two units were identical and massive and could be rented out for quite a bit and a third unit that was a simple 1 bedroom unit created the perfect opportunity, plus it was one of the cheapest costing properties on the MLC when looking at price per square foot. After running the numbers various ways through the Rental calculator, everything just made sense.

How did you find this deal and how did you negotiate it?

Found deal through MLS, negotiated it through my realtor. They repaired all leaks and leak stains, several of the windows, put a new roof on, and put $450 towards repainting the patio and balcony due to peeling paint concerns.

How did you finance this deal?

3.5 down, FHA first home buyers loan.

How did you add value to the deal?

With negotiating a new roof and repainting plus updating several minor things inside (doors, outlets, appliances, etc.) I added significant value. More value will continue to be added as we repaint the patio and balcony once spring comes around and as I consider putting new siding or repainting the outside.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Sam Foltz through Fulton Realty and I'd recommend him from mountaintops, he's that good. He's on Biggerpockets as well so if you're looking for an investor friendly realtor go ahead and hit him up, he'll knock your socks off.