All Forum Posts by: Kevin Leonce

@Elijah Brown, Thanks for sharing your story, good stuff! Congrats.

Congrats @Evan Miley. Keep the wheels turning!!

@Braden Hobbs That's a tough situation but is it that you're not able to fill the vacancy after that point in time or is it just going to take a little longer?  If it's going to take a little longer then I'll be ok with it and will be doing some early prospecting to have the vacancy filled. Other than that, here are a couple options:

1. Start advertising and screening potential tenants before the termination date of the lease and put together a short list and see if the start date for them will coincide with date the tenant is expected to leave (two months after lease end date).
2. Find another rental for your current tenant for the two month period. 

Hope this helps. You might also want to connect with property managers in the area as they may have a waiting list to be filled. You might be able to find someone there, outside of the hot period.

@Devyn Grillo I invest remotely and I use a property management company. I utilize their expertise in attracting the best tenants and achieving the maximum possible rents at the time and with the property's condition. That's my preference but I do know that there are investors who manage their properties even though they're out of state but I do believe that they have a handyman or someone local who can check up on the property or do minor repairs for them. Hopefully, they can chime in on the discussion and give you another perspective.

Hey @Blake Riley check out Brandon Turner's article on direct mailing (below). There's a link to a sample letter there as well.

https://www.biggerpockets.com/...

Congrats on your deal. What cash flow and cash on cash return are you expecting?

Hello @Jamie Fankhauser these are a few that had an impact on me;

1. Rich Dad, Poor Dad by Robert Kyiosaki
2. The Richest man in Babylon by George Clason
3. The One Thing by Gary Keller & Jay Papasan
4. The Millionaire Real Estate Investor by Gary Keller
5. The E-Myth Revisited by Michael E. Gerber
6. Never Split the Difference by Chris Voss
7. Extreme Ownership by Jocko Willkin & Leif Babin
8. The Obstacle is the Way by Ryan Holiday
9. As A Man Thinketh by James Allen
10. The Alchemist by Paulo Coelho

Hope these help.

It all depends on what your goals are. They both have their benefits. You are correct, in that you have the benefit of multiple doors and will still have income coming in, if one unit is vacant. Thus making SFR more expensive if you have a vacancy.

There are quite a few investors who started with SFR properties and have been successful with it as well as there are those who started with MF and have been successful. There are definitely economies of scale with MF properties but understanding your goals and knowing the numbers on the properties will give you a better guide as to which to choose.

@Tchaka Owen Thanks for the correction.

@Thomas Ingrao You should remind the agent that they have a fiduciary duty to submit all offers. But you should find another agent and get your offer submitted. Vet the agents before working with them and let them know that you're an investor and will sometimes make aggressive offers and find out if they're ok with that.