Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Account Closed

Account Closed has started 0 posts and replied 1192 times.

Post: Covid bail out, who is bailing the landlords out?

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Maricela Chavez

Two jobs: get elected; get re-elected. The ONLY way to influence is to press one of those buttons. No other means on influence exists.

Post: Accessing Equity in Personal Home (HELOC)

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@David Cam

Powerful tool when used wisely. Do NOT mix business and personal items on that line, accounting becomes a nightmare if you do. Keep it 100% investment related. No boats or vacations.

Post: Design your OWN Property Management Compensation Package

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Bill C.

Equity partner is a big deal. Like a marriage, pick your partner carefully. And like a marriage, firing them becomes much more difficult. Expectations need to be absolutely clear and agreed upon in writing. Far easier in all respects to just pay the service provider.

Post: Design your OWN Property Management Compensation Package

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Bill C.

Do NOT give out equity as payment.

Post: Invest Now or Wait For Potential Crash

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Kelsey Mortimore

My neighbour has been waiting for the next crash for 30+ years. My realtor has been saying “I’m in” for a decade but still wants to wait till the market corrects. Both are exactly as wealthy as they were at the start of the wait.

Post: Tenant wants to leave for cheaper unit

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@David Choi

Learn your local laws. Has she signed a term agreement for a year or similar? If so, my response would be something like “your lease agreement is legally binding and enforceable as per ____ (state the local Act here). Consequences for breaking this agreement include but are not limited to:

- Financial impact

- credit impact

- etc “

Post: creative uses for farmland/forest?

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Russell Butler

Depending on timber type you may really have something there.

Post: Best way to collect rents with no bank account

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Mary M.

If this is small town as described, I’m guessing a 10 block foot race would get you there and back.

I wouldn’t stick a box full of cash in a visible location against the side of a building under any circumstances. Even if it lasts, first idiot to stick bills in without their name on a sealed envelope is gonna ruin your system when the total is short. This is a tenant problem, not a you problem. Make it easy for them to pay you, don’t make it easy for them to screw you. Point them to the bank, if you bank 4 counties away, grab a local account wherever.

Post: Best way to collect rents with no bank account

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Pete Harper

Money order gets deposited at the nearest branch of your bank. They’re responsible to make sure it arrives by xx:xx on the first as indicated in your lease.

Don’t let the tail wag the dog. Other than sending them the address of your branch and the correct account info to deposit to your only responsibility on the 1st should be checking your banking app to make sure it has been done.

Post: DIY Airless Paint Sprayers

Account ClosedPosted
  • Posts 1,203
  • Votes 1,263

@Lewis Thompson

I use a Titan. 1900 Pro. But I will buy a 440i once I find one on sale for more than 5% off... worth it. Multiple exteriors and interiors. That said, for small jobs like a few doors etc a paint in hand style one would be okay for a while. Don’t paint a house with them, carrying a pint all day and stopping every 6’ to refill the thing just isn’t worth it. Especially if you end up with flashing and your interior is striped after. Pay for themselves after one use if you take your time and don’t screw it up. I saved $5k+ on my first exterior job.