All Forum Posts by: Joshua Biondi

@Austin Underwood

Sounds good! Just shoot me a message.

I had a tenant, about 6 months ago, whose brother tragically committed suicide in the home. The tenant informed me that he could not afford rent because of his brother’s funeral expenses, and that he could not bare to live there after the incident. Due to the circumstances I of course let him out of the lease with no further questions asked. Other than that, he was a great tenant. He paid rent, didn’t cause any trouble, left the place clean, and communicated with me during that time.

He texted me this morning asking if I had any apartments available, which I will in about a week, but I’ve increased the rent a decent amount. If I check his employment and he meets the income requirements, I’m not so much worried about him paying rent.

Part of me feels that I should rent to him again because all and all he was a good tenant, and then part of me feels that renting to someone six months after they broke the lease is a bad idea regardless of the circumstances. I almost feel bad even thinking twice about this due to the tragic circumstances that led to him breaking the lease, but at the end of the day I have a business to run.

Experienced landlords, what would you do in this situation?

@Byron Scott

Such an inspirational story!! Congratulations on your first investment! I too come from very humble beginnings and I know firsthand how hard it is to do a total shift in mindset. Wishing you much success on your future endeavors!

@Thomas Neff

Welcome to BP and the world of real estate! It sounds like you’re in a great position to hit the ground running. I’m an investor located in Columbus, Ohio as well. Utilize all of the tools and knowledge that BP has to offer, network and attend local meetups, grab coffee with investors, and don’t get caught up in analysis paralysis! Pick a strategy, thoroughly run the numbers, and when you find the right deal, pull the trigger. Shoot me a PM if you’d like to chat sometime. Best of luck!

@Brian Sparr

Hi Brian. No, I meant that I would email them the application after the virtual tour if they seem to be interested, and then I would collect application and fee after meeting them in person to do a walkthrough.

My thought process is that them taking the virtual tour, and then taking the time to print out the application before meeting, will at least show that they are actually interested in renting.

I get a ton of people that schedule appointments and don’t show up, or show up to say they have evictions or they’re income doesn’t qualify, even after I’ve screened them on the phone.

I figure this may eliminate some of that...hopefully lol. I’d love to know your thoughts on this idea, or if you have any suggestions on a better method. Also, thanks for pointing me in the right direction for the virtual tours!

@Austin Underwood

Welcome Austin!

I am an investor in Columbus, Ohio and BP is where I started my RE education. I first bought a duplex to house hack which I currently live in now. Shortly after (with a bit of luck) I purchased a 20 unit apartment complex and quickly had to develop a PM system.

I still consider myself a newbie and I’m committed to learning all I can about RE.

I love to chat with likeminded individuals and discuss ideas and strategies! I would recommend attending as many of the local meetups as possible, they’re a great place to network, as is the BP forum.

Shoot me a message sometime. I’d be happy to grab coffee and share the little bit that I’ve learned thus far.

I’m in the process of refining the way I handle viewings with potential tenants. I have a number of units, and with working a day job, scheduling in-person viewings for each prospective tenant has become far too time consuming.

I’m hoping to set up a relatively cheap website that will provide virtual tours, then I will email the application if interested, and then from there I will meet them to collect application/fee and do an in-person viewing.

I would love some recommendations on the most cost effective way to do this. I don’t have the money to hire an expensive web designer at the moment. Someone suggested possibly having a student in school for web design do the website and set things up for me.

Has anyone done this, or could someone recommend the most cost effective way to have the site and virtual tour set up? I have no idea where to look or where to start. Any advice would be helpful. TIA!

My current strategy has been simply buy and hold rentals, but I'm very intrigued by what I'm learning about the BRRRR method.

I have what may be a silly question, but I'm wondering if the BRRRR strategy is sustainable during a market correction or market crash.

The key element being the ability to refinance, wouldn't it be much more difficult to refinance, and get the ARV and rates needed to make this a profitable strategy during a correction/crash?

I know that nobody can say exactly when the next correction will happen, but if we’re due for another one in the near future, would it be wise for me to go all in on this strategy at this time?

@Erin Auman don’t give up! If you’re persistent there’s literally no way you can fail long term. Step out of your comfort zone, network, and put yourself out there. The things that you’re struggling with are all skills that can be learned, and it’s been proven time and time again by other investors, you don’t need money to get started. Keep learning and educating yourself. As you gain more knowledge you’ll become more confident. After some networking and your first deal down, those initial butterflies will subside. Keep pushing, and keep us posted on your progress. Good luck!

@Ian Walsh that’s the plan until I find someone who works out or I get a good referral. Thanks!