All Forum Posts by: Linval T.

Congrats and please keep us updated with your next steps to full ownership.

What is it, single or multi and do you care to share basic details?

Also, is there anything specific info you want to share with us about the foreclosure process?

@Alex Silang- It shows that you are human and doing a service for the betterment of other people's lives. 

However, the fact of the matter is that it's not a free service as you are expected to be compensated reasonably for your time, effort and financial commitment.

As long as you are satisfied within yourself that you have done the very best and not ripping anyone off, then, you can sleep well at nights.

Ignore your friends and family who are envious of your achievements.

Furthermore, don't share current or future plans with them as they are simply looking to add more darts to your face.

Surround yourself with like minded successful people and I am sure that's why your are a part of the BP community.

Focus on the next opportunity for expansion of your business and not on those detractors.

@Spencer Sutton

 Excellent analysis and yes, the tenant is the secondary asset that drives your/our primary asset and financial commitment .

I agree that we should treat performing tenants with respect and appreciation. 

The fact of the matter is that the longer they stay, the less money will be spent on repairs to get the place in move in ready condition for the next tenant.

This churn affects the bottom line if there is a revolving door effect.

I personally speak with my tenants in a respectful and not overbearing business like manner.

As a matter of fact I send them a gift card at the end of the year, as my token of appreciation for their subscription to my business success.

Don't misinterpret my kindness for weakness, as the tenants are not my friends, just ancillary business partners.

@Wally Johnson

 I am not familiar with Dwolla. Since you are leary about its operation, here is another site to check out. I use them and it has an added option of accepting credit cards.

www.erentpayment.com

Good luck.

Yes, you can save a lot of money by doing it yourself. This is not rocket science.

Here is one I use.

https://www.residentresearch.com/

Well done! You are on you way to being a smashing success, with your hands on knowledge, experience, familiarity with the neighborhood, determination and drive.

The photos are gorgeous.

You learned a lot and will definitely improve as more projects are done.

I didn't skim through it by the way :-)

@Chris Walters

 Based on your story and there are two sides to every one, your landlord might be going overboard with some of the things you mentioned.

However, I am not at liberty to state who is wrong or right.

Below, is a link to the Georgia tenant handbook that you can peruse for reference.

http://www.dca.ga.gov/housing/housingdevelopment/p...

From my vantage point it seems as if you are rushing to close to meet your friend's deadline/expectation.

That's good in and of itself. However, for that kind of money and you are not from the area, then, it would be wise to do additional legwork.

What if your friend didn't know you to sell the property to quickly? He will still be on planet earth and you shouldn't have to rush to close so quickly.

That's just my take on your outline, but, you would know best.

Good luck!

This is a borderline underwater scenario. If you are lucky enough to stop the bleeding, there might be other claims and/or repair expenses waiting for your checkbook.

Your best bet might be to try to get it at the auction, if you really like this property. 

At least the auction starting point is $50K.

Welcome to the community and rental property management.

Below, is an excellent book to use as reference for years to come.

http://www.amazon.com/dp/0932956378/ref=wl_it_dp_o_pC_nS_ttl?_encoding=UTF8&colid=3090PXJ903DBR&coliid=I1VFMK75JSGQ9K