All Forum Posts by: Louis Kelley

Awesome sir -- I love reading a success story.

Thanks for sharing.

Lose the plants. I think you have to remember to treat this as a business and not a personal issue. 

@ heather Macaulay

Then dont do it. Quit and get out of the business. If you're too scared to make a decision with your money then put it into a bank CD and keep going to your 9-5.

I don't know if this deal works (numbers/location wise) but in a NY min I found a duplex in your area that allows you to house hack. So you either want to buy and hold or you don't.

http://www.realtor.com/realestateandhomes-detail/2...

so either .... or get off the pot.

Make it an awesome day!!

Congrats my friend. I'm hoping to emulate your success. I have another 8-10 doors to go before I reach the take this job and shove it level. I appreciate you sharing- the motivation is electric.

Painting is the way to go. Had the same problem in one of my duplexes

This is pretty scary for me being a newbie. I've started out in a c class neighborhood which means I'll have all types of potential renters. Thankfully the government has provided more bureauCrazy for us to navigate without any clear definitive rules (see the new DOL Fiduciary rules for broker dealers as more examples of big government getting involved in business they don't understand). 

Hi just read a recent article on IBD regarding HUD looking to enforce equality among all renters - even ones with criminal records. I'm a new landlord so my experience is < 3 months of doing this. For those of you with more experience in the business, any legitimacy to the article?

http://www.investors.com/politics/editorials/hud-t...

You can't be afraid to manage people. Success is a contact sport so as many have already said, paper trail ( question to all - should this be a certified letter?) and then a follow up conversation with the lead tenant to get the new guy out.

The tenants probably just feel like its not a big deal - enough bedrooms to go around etc..

Good luck.

People always seem to be waiting for the perfect deal. Let me tell you, the perfect deal only comes when you're already up to your neck in other projects and you have to let it pass by (my experiences recently).

My motto - do the next deal that makes sense (lots of cents) - - which is why I always miss out on the perfect deal. Dan if that means doing a deal 30 minutes away, then sacrifice. Or you could just stop and leave more for the rest of us. I'm sure if the deal is good enough someone will be willing to travel the extra 10 minutes (of course I know the 10 minute thing is a minor issue and just harped on it for emphasis).

Here is the good news, If you're walking away from the opportunity, so will most others. Give it a little time and go back to the owner to see if you can actually get a deal that works in your favor. Best of luck.