All Forum Posts by: Joshua Biondi

@Daniel Judge I would love to connect with you as well. I have some experience in multifamily and commercial RE but I'm hoping to implement the BRRRR strategy soon. I just sent you a request.

@Al Pat

Some good alternatives I’ve found are:

Turbotenant (the best I’ve found)

Apartments.com

Cozy.co

Rent Prep is also a great source for screening tenants!

@David Yoder

That would be great. I appreciate it. I’ll shoot you a message.

@Derrick Locke

Hi Derrick. I’m located in Columbus as well. I’m more of a buy and hold investor so I don’t know much about flipping, but the advice from the first comment is spot on in regards to approaching any investor.

I would suggest attending some local RE meetups, there’s a COIN meet up here this evening at 6pm, so send me a PM if you want the details.

Go to as many meetups as you can, network, stay active on the BP forum, listen to podcasts, read a ton, and make sure you’re confident enough in your knowledge to move forward. The last thing you want to do is burn a bridge with an investor you could do business with in the future. Also, establishing relationships with professional contractors that are familiar with an investors strategy is key. Best of luck to you!

@Warren Sawyers

It depends, are you looking to buy rental properties to hold, or buy properties to fix up and flip?

With 10k I would go for an FHA loan on a multifamily like was previously mentioned. Live in one side, rent out the other, fix it up if need be, and start saving for the next one. That's the more conservative approach, and many will disagree with it. There's a little more red tape with an FHA loan, but research it and speak with lenders to see if it's right for you.

If you’re wanting to flip you’re going to need private or hard money lenders to fund the rehab. I don’t have any experience with flipping, and very little with rehabbing my own properties, so I’m not qualified to give much advice on that.

Either way building a solid team is key so start networking and learn as much as you can about whichever path you choose. Pick a niche and stick with it until you’ve mastered it. There is a ton of ways to make money in RE and it’s easy to get distracted. Stay focused, learn, network, utilize BP, and be persistent.

Wishing you nothing but success and good fortune!

@Randy E.

Knowing that you’ve had a good outcome in a similar situation leaves me a little more at ease. You’re right, a low point in life isn’t necessarily an indication of irresponsibility, and he’s shown he’s willing to communicate which is key.

We all know how hard it is to find good tenants. I’m gonna go ahead and trust my gut. Thanks.

@Matthew Dennehy

I agree with that. He did everything the right way, so as long as his income qualifies, and no evictions show up, I’ll likely give him another chance.

@Wesley W.

He signed the mutual lease termination and vacated as he said he would. He had only been there about 4 months so there was virtually no turnover costs. I rented the unit again within less than two weeks.

@John Teachout

That’s a good point. I’m going to run through the regular screening process just like I would anyone else. Before moving forward, I’ll explain to him that there will be no way that I could permit him to break the lease again, regardless of the circumstances. As long as he agrees to this, and passes the screening process, I’ll rent to him again.

@Stephen Akindona

I’m thinking the same thing, but I always like to get feedback from members here on BP. I know for a fact that he’s not lying because it happened in the unit and I arrived to see the police and paramedics.

It was a truly sad situation, and his reasons for leaving were completely valid. Still, anytime someone breaks a lease there’s a slight uneasy feeling. I think he’s a decent guy that had something bad happen to him. If he meets rental requirements I’ll likely rent to him again.

Thanks for you input!