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All Forum Posts by: Justin Seng

Justin Seng has started 13 posts and replied 99 times.

Post: 401K for Down Payment

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Asa Ifill Absolutely 

Post: Potential applicants not showing up for apartment showings

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Brady Boyer One thing I have done with my single family rentals is have an open house instead of single showings. I do accommodate some if they can’t make the open house.

Post: 401K for Down Payment

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@John Penola I agree with @Adam Williams. I took out a 401K loan to get started. While the money I took out wasn't making money in my 401K I turned the $50K loan into 2 properties using the BRRRR method. I now have $75K worth of equity, 2 cash flowing properties and I can pay the loan back with the refi. It may have risks but it worked great for me.

Post: Rent collection suggestions?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

Hey @Charlotte Chew I use cozy it’s great! Just have to wait a few days for the money to post to your account.

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Rachel Foster Thanks Rachel it does seem a lot safer to just do it when they are home. 

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Joe Splitrock Thanks Joe. I will be the one going into the house and the tenants are ok with that so I think I’m good. Good tip to discuss this during the lease signing. 

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Anthony Wick Thanks Anthony!  Seems to be the common answer. I’m going to go that route. 

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Nathan Gesner Thanks for the feedback Nathan. They have given me permission so I think I’ll be good. 

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Beth Matherne Thanks Beth. Good point about the schedules. I only have 2 properties so not much of an issue for me...yet! 

Post: Repairs while tenant isnt home?

Justin SengPosted
  • Rental Property Investor
  • Springfield, PA
  • Posts 101
  • Votes 20

@Clark Harris @Timmi Ryerson @Caleb Heimsoth @Peter Tverdov  thanks for all your insight. It will help me make my decision.