All Forum Posts by: Lisa Mathews

@Jacob Skeen

Cash flow, solid structure and I needed a two bedroom unit, so that was on the list too. My other three units are all one beds.

I bought the place nearly five years ago. It’s a conversion with some of the old woodwork still in place. I made updates to my kitchen and bath, but the other units had already been updated. It’s been a great way to learn landlording.

Lisa

@Jacob Skeen

I’m in Lincoln. I have a four-plex and live in one unit. It has worked out well for me.

Lisa

@Erika Newmyer

We’ve used Jan Beran for evictions and have been happy with his work.

@Miles Klos

Welcome!

@Michal Kolenda

Will you be pursuing the PE license? If so, that could be a sweet side hustle to bring in cash from consulting.

@Jerrad Shepherd

The Nebraska Real Estate Commission enforces the licensing law for brokers and agents. Complaint process is on the agency’s website: nrec.nebraska.gov

@Nick Peters

Thanks!

Thanks for the welcome, Ryan.

I've visited Hastings a few times and it looks like a great town for investing. I hope it's treating you well.

The two biggest issues have been availability because I live in one of the units and late rent payments. 

I've learned to set boundaries, for example, my fee for a lockout is based on the hours and day of the week, rather than whether or not I am on the property so that when I get a 2 a.m. call I am still compensated for the inconvenience. 

The late rent issue was due to the five day "grace period" in the lease language. If no fees are charged until the 6th, then rent become due on the fifth. To get tenants back to rent is due "on or before the 1st," I eliminated the "grace period" and tell them if they need a grace period, they can consider it as the last five days of the month. When fees begin on the 2nd, rent is on time.

Currently, I am looking to purchase another multi-family in the 4-7 unit range. Once acquired, I'll be hiring a PM company. Living in the building makes PM easier, but additional units will be difficult while I still have a FT job. 

@Anthony Gayden

Thanks, neighbor!