All Forum Posts by: Justin Nienhaus

Thanks @Josh Mitchell,

I heard Brandon or Josh on one of the BP podcasts use similar language when making low ball offers.  "Look, for me, this is just a numbers game.  And for me, the number to make it would would be X.  If that works for you, we can look at making a deal."

Thanks for your input!

A friend of mine is selling their personal residence.  They know I have a rental and asked me if I was interested.  The property would make a decent single family rental.  Not spectacular, but it shouldn't be hard to rent out, especially in Minnesota where the vacancy rate is crazy low.

My concern is making the numbers work without losing a friend.  The numbers can work, but this is a business.  I would likely offer less than market and I think they may have purchased early after the crash (not the top, but certainly not the bottom).  I don't believe they are underwater, but they may still be below purchase price, even at market.  

Is this worth entertaining?

I would be more concerned about the tenant's issues paying rent than with who should pay for this call.  If you feel they are being excessive in their requests, in should only strengthen your resolve to send notices out immediately if they are late.  

But, as for the minor expenses, happy tenants will save money in the long run.  Speaking directly to your toilet example, I had a drain company out to unclog a toilet only to find it was due to a daughter flushing items she shouldn't be flushing.  There was a legitimate drain issue in the house only a month prior, which is why I jumped straight to a professional rather deal with the toilet myself.  Even though the tenant offered to pay after we found the reason, I just covered it as part of the previous issue.  At a $100 for the visit, I can do that every month for a long time before I hit one month of vacancy.