All Forum Posts by: Jon P.

"Everything works out in the end...unless you're an idiot."        - my dad

this quote makes me laugh, but it is honestly something I think about everyday and it has truly helped.

@tyler 

@Tyler Labelle and @Jessie Nunley, the "hammer" mentality doesn't come easily to a lot of us (myself included).  It is a muscle.  If you are consistent with the rules and expectations throughout your tenure managing, your life life is going to be a lot easier.

Ask yourself (and be honest)  if you're not tough with this tenant, is it going to to magically get better?

move forward.  doesn't sound like particularly great advice but i think it's an important thing to keep in mind as you start out.  don't overthink.

education is never a bad thing but you want to make sure you don't start driving yourself crazy trying to analyze cap rates and other "rules".  those items can come into play as your portfolio expands.

to start, simply find find a decent property that isn't too overwhelming and learn by doing.  you'll be ok.

best of luck.

This is a great conversation.  The question and comments both.  It's something I am thinking about as I move forward.  

The big question is your long term goals.  Are you looking to simply replace your income with passive or are your looking to greatly expand the portfolio?  Which best suits your vision of your future?

I've only been messing around with Stessa for 2 or 3 days but I am liking the user interface and find the whole thing fairly intuitive.  As I continue on, I may change my mind but for now, I'm in.

at this point would it be beneficial for your sellers to withdraw from the market and rent the property out for a year or two until the  property can be re-listed anew?

ordered the book last week. very excited to sit down and read it.  found Chad's recent podcast fascinating.

I am in the process of having a tenant move out of one of my 2 families in Eastern Massachusetts.  He asked to be reimbursed for the remaining oil that he had paid to put in the tank.   I don't believe I have any obligation to do so.  Am I wrong? Has anyone run into this issue?

first things first, deal with the person, not the stigma.

i agree with those calling for income verification.  in this line of, if a traditional paystub doesn't do it, ask for last years tax return. if that works out, run credit and background check and move forward accordingly.

this sounds like a nightmare waiting to happen in my opinion. i mean, i love a good hot tub as much as the next guy, but sure as the day you were born, when they go...and they will eventually go...they will leave that back yard destroyed.

i wish you the best but i would steer clear.