All Forum Posts by: Levi T.

 It’s about lead time. I own hundreds of units, and add more every month. Having tenants popping off 30 day notice left and right is nuts. 90-120 slows them down, some change their minds a few times before exiting or not, but overall it gives us a long view of what’s coming. We can also cross market units for 120 days vs 30. It’s all about portfolio  stabilization. The more stable you are the fast you can grow!

Unless your making the products you sell yourself, Amazon will cut you out of the loop if you start making good money. They backtrace all top performing products via the barcodes, or their investigation team. They have even been known to source manufacturers to replicate popular products. They already know all the drop shippers, they already know what everyone is doing on Amazon, they see where everything goes and comes from.. your just playing their game. My wife sold education books for a long time, once Amazon figured where the books where coming from, they cut her out. Overnight she went from making thousands per months to zero. You can find stories like that all over the place. No one is cutting you out of real estate, and no one is every going to stop needing housing.

Sounds like a mess. You need to talk to an attorney.

You willing to work hard?

It’s a premium market, but there are deals to be found. Inventory is so low right now, you can hear the change rattling around title company’s escrow accounts, so don’t expect to be making easy fat margins.

I’m about to start erecting billboards in Richmond to find deals 😆 that’ll give you an idea of where things are at with competition. 

The housing collapse gold rush is long gone, we are now in the aftermath.

I put on my best Samuel L Jackson voice, and call up the tenant!

Joking aside, everyone will be all over the map on how they do it, so no hard fast rule. We operate in a larger market, so we can normally just price from there. However look around, check Zillow historical data on properties like yours, use some personal judgement, and inform the tenant. 

If you absolutely don’t want to lose the tenant, keep is very low or don’t raise it at all. 

@Cameron Riley

The paragraph In question is about abandonment. So I’m not event sure why your injecting self eviction in the middle of an abandonment question.

Self eviction occurs when a landlord retakes possession of a property without using the eviction process. Self eviction is not the same thing as abandonment. 

All 50 states have statues on the abandonment process. Most states require some type of formal notice, changing of locks, and storage of tenant belonging for a period of time.

Until those two requirements in the lease are satisfied, or the laws requirements are satisfied, you got no grounds to take action.

Don’t worry about it. People have set views on everything in life. Most real estate investors are old men.

Till this very day, delivery guys ask me where the owner of my house is.. 

When I introduce myself to people that I’ve only talked to on the phone, they always say they thought I was an old man. Some ask do I work for Mr Thornton, or am I his son. 

I’ve seen people quit just because they could not handle the idea of their boss being half their age. 

People just have a set view on everything... In fact, the views we all hold are what makes us successfull as we are, and is holdings us back from being more succefull.

That guy you talked about is blinded by his own view, he can not understand that others around him can be successful, or more succefull them him if they are younger. He likely applies this time formula to his own life success.

Not legal advice:

You have two fundamental parts your testing in the example given.

1st being, has the tenant abandoned the unit for more than 15 days, and has NOT returned to date.

2nd is he delequent on rent.

If the answer is yes to both, then that term would apply. If he is not, then the requirements have not been meet.

Even if they did, you would need to consult state law before changing the locks.

Patricia is spot on. This is your terms, your operating model, this is a non-negotiable point, just as much as it’s not a negotiation on if or when the rent is due. 

If it makes you feel any better, we are 120 days. As for us giving notice, the lease ends at the end of the term, if we don’t send them a new lease before the end of the term, then it’s over. I’m fairly sure your says when the lease ends, it becomes month-to-month. Same concept..

Mold is kinda the go-to complaint by tenants around these parts. If you don't see or smell it, there is likely no mold. You can get air quality test for spores count. They test outside then go inside and test to see the deference and provide a report. Most the time, if they ever find anything, you just need to fix the source of water, remove any damages, or apply Kilz. It's common for tenants to have this problem near washing machines due to how the tenant uses them, and bathrooms due to lack of ventilation. A quick Google for "mold mildew test Richmond" will find you plenty of certified testers in Richmond. Best!