All Forum Posts by: Joseph McCrillis

@Austin Charlton I started older than you with slightly less money. I would put as little down as possible to get the best rate on a 30 year mortgage. You can get around 3.5% with 25% down. Interest rates will go up at some point and you will be locked in for 30 years. Do this once and each one will get easier and be far less mysterious. Whatever city you decide on, you could consider buying the best school district. Those maintain demand, but they usually cost a bit more than the other neighborhoods. With that said, there's usually less investors in that area which means less rentals which means more demand. My pockets still need to be enlarged, but so far this has worked well for me.  

@John Underwood That’s a good point, but I only need one! 
Certainly there are other investors who also manage properties. That’s what I do. Keeping’ my fingers crossed. 
thanks! 

Does anyone have a contract they can share or point me to where I can get either one. 

I've been co-hosting other people's Airbnb properties for a long time and want to expand outside Airbnb...I am a landlord as well. I have lease contracts for all my rentals, but nothing that comes close to Short term renting a property on various sites etc.

Regarding Arbitrage...I have an opportunity to arbitrage a fellow landlords unit as a STR. I'd like to see that contract as well.

I am aware that the contracts ability to hold any water may vary by state, but I'd still like to see what they look like anywhere in the US.

Thanks! 

@Gerald Pitts

Thanks...I'll check it out :) 

@Rolly Weaver

I grew up in Marietta and have been wanting to snatch one up in Ellijay or nearby, but I'm no longer in GA. I manage several STR's, but it does me no good when I'm not there in Ga.

Do you self manage them or use a PM?

@Sharise S. Did you read the long distance real estate investing book by David Greene? It has some step by step ideas on how to find and manage workers. It may come in handy if you read it before your next turnover.

You can sign up on Nextdoor and snoop around there for workers. Often you’ll find many neighbors recommending workers. You can also poll your neighbors for workers.

“Angies list” works and so does task rabbit and thumbtack.

Also ask your real estate agent (if you have one).

Just ideas…Unfortunately I don’t know anyone in that area.

For my out of state rental, I flew out and networked around town so that I had numbers of workers when I needed one. So far it’s worked great and kept me from hiring a PM.

Yeah, your final point is so true. I think there's a good blend of being compassionate with very clear boundaries, but it's not natural to many people. Don't let this kill your compassion...maybe just readjust how far you take it. Once again all the best of luck with this disaster. 

I am in LA and bought out of state mostly because of cost, but the LA tenant protections are beyond reasonable. I'm glad I did.  

The properties I do have here I Airbnb as it allows me to keep people in for shorter stays maxing out at 28 days. Also you make more than the average rent!  

@Adriana Arnold

That sounds terrible and reading through all this is just wild. I don’t have any experience with this, so I have nothing to offer, but I was wondering if you have the energy to maybe tell

Is what to avoid if anything? Were there red flags that you ignored? Were they great tenants at the beginning? Was there any lesson from a tenant search perspective that was discovered here that many of us often overlook or did you search less thorough than you might next time?

I know you’ll get on the other side of this, but what a ****** journey to get there. All the best of luck in finding the right tactic and loophole to win ASAP.

She did lie to you and guess what else...she lied in front of her 3 kids and him. Everyone was ok with it which means it's not the first time mommy didn't tell the truth. When I try to slide something by my kids, they rat me out loudly like "what do you mean blah blah blah" lol. It's a safe bet that she will do it again to you down the road. 

I think your lease should have strong language about extra occupants staying more than XX days and not being on the lease. Mine is at 30 days and many others are at 14 days. this is safe language anyways as you don't want them bringing in roommates etc. They tenant needs to know that you must approve anyone extra via credit/background/qualifications etc. Otherwise an eviction can get started. 

If this is clear enough it can often be a lie deterrent and possibly have them come clean to you. 

Be very careful how you state anything about kids, boyfriend etc as that can potentially land you in hot water with fair housing laws. 

I know your emotions want her for all the right reasons, but you work hard for your properties and need to be thorough with your DD as we rarely see who people really are on first dates, job interviews etc. If you do let her in, add the language to the lease that protects you...and renters insurance as a requirement! 

Good Luck :) 

@Alex Kovalenko

Personally I would not only move on, but treat him fairly according to fair housing and kindly tell him, if he changes his mind he is more than welcome to finish the required paperwork to see if he is qualified.

He doesn’t have any reason to be stable. No job. No partner. And worst no respect for you and your requirements.

He’s might be equally controlling once he is a tenant. Don’t let desperation make the next 12 months a headache that you can’t escape.

Are you marketing as well as you can? Maybe you can expand your pool of applicants and if you can’t, I would just keep looking for that closer to perfect fit.

Whatever you choose, good luck!!