All Forum Posts by: Jimmy Alexander

I started investing just under 2 years ago. I bought a duplex in the UP of Michigan to house hack. That went well, so I did it again about one mile way from the first. So now I have three rental units, plus I also rent out a spare room in my personal residence. And I just purchased a mobile home in one of my friend's parks that is my first rehab project and I'm learning soooooo much and having a blast doing it! It isn't going to stop anytime soon!

@Jimmy Alexander I have been investing for 5 years now. I have 7 buildings and 25 units. I have another under contract but unfortunately it looks like it’s going to fall apart due to a difficult seller.

I’m looking at small commercial multi now, primarily 5-12 unit buildings. In the past year I’ve bought an 8 unit and a 5 unit both of which were a little out of my wheelhouse. The 8 unit was mismanaged and a Value Add and the 5 unit was midway through a renovation.

I love what I do not it’s the real estate and do it full time. It’s rewarding and I love the challenges that come with it.

Quote from @Jimmy Alexander:

Hey Biggerpockets people,

Im looking to connect with investors and hear your story! I currently live in NY, invest in NEPA (scranton, archbald) and would like to expand into Allentown PA. I began investing about 3 years ago and acquired 12 units. My biggest deal is a 6plex and I'm now looking to scale into 8-12 unit buildings. I love to hear stories from other investors on how they got started and where they're at today so feel free to reply below or send me a PM!

I got into real estate investing by accident. I actually work for a global real estate asset management and investment firm (mostly commercial, logistics, multi family etc) and have always loved this asset class. It's like beautiful art to me! It wasn't until I started renting out my first condo in NJ that I realized I could build a lot of weath going this avenue. I sold that condo and now own one STR, but I am looking to grow my portfolio of buy and hold assets. I'm hoping to scale at about 1-2 properties per year. I enjoy having a day job (weird, I know) and am just looking to set my future family up for a comfortable life financially!

Question for more seasoned investors- what was your growth strategy and how has today's macro environment changed since then?

Quote from @Russell Brazil:

Sounds like she is suffering from mental illness. Does she have an emergency contact?

 Sounds like the tenant is looking for an excuse to break the lease. 

I have a friend at Church who's younger sister has schizophrenia. From his stories, when her symptoms first started she had many similar issues. Her boyfriend was doing weird things or breaking in, so were the neighbors etc. Her personal belongings were always being hidden from her by some unknown person etc. Her brothers of course believed her and were looking out for her and taking care of her dealing with everyone until things got bad enough that they realized it couldn't all be true. If I recall she was around 20-25, and that was the first there was ever any issue. But it started with situations like you describe and then escalated into paranoia and eventually full blown conversations with the empty air. 

I'd at least talk to a family member to indicate your suspicions, the specific instance of calling police on a vacant unit is a clear instance you can point to. Explain to them what's happening, and your concern for her mental health, as well as providing the "happy clause". It may take another year or two before things progress enough for Mom to realize there may be a real issue. 

It seems like you're facing a challenging situation with one of your tenants. Dealing with tenant conflicts can be difficult, especially when there are conflicting accounts of events. It's important to approach the situation carefully and consider all factors before making any decisions. Here are a few suggestions to help handle this situation:

1) Gather evidence: Document all the complaints, conversations, and interactions with the tenant in question. This will help you have a clear record of the issues raised and any attempts made to resolve them.

2) Openly communicate with the tenant: Schedule a meeting with the tenant to discuss their concerns in person- with your ducks in a row from gathering evidence. Listen attentively to their side of the story and try to understand their perspective.

3) Playing the devils advocate. Investigate further: Since the other tenants have denied any involvement in the alleged disturbances, it might be worth considering external factors that could be causing the tenant's distress. Is there any construction nearby? Are there any external noises that could be misinterpreted as intentional disturbances? It may be helpful to rule out these possibilities.

4) Consult legal advice: If the situation escalates or becomes unmanageable, it may be wise to consult an attorney who specializes in landlord-tenant disputes. They can provide guidance based on local laws and regulations, and help you understand your rights and options.

5) Lease termination: If you genuinely believe that the situation is unresolvable, offering the option to terminate the lease might be a viable solution. However, consult legal counsel before taking any action to ensure you are following proper procedures and protecting your interests.

Sorry you are dealing with this. Once this is all over, it will be another notch in your PM belt! Good luck & happy investing!

M2M rental agreements all day long. You can deal with misbehaving tenants immediately, and they know it. 

I agree with your thoughts to implement the happy clause.  "It's clear that you are not happy or feel safe here; so, you can get out of your lease with X days written notice, return keys, clean unit, etc..."

Sounds like she is suffering from mental illness. Does she have an emergency contact?