All Forum Posts by: Lyndsey Whiteaker

So!

Our biggest struggle with having a portfolio that is growing is finding a good maintenance man. We have hired and fired two within the last month. 

Where do you look for them?

What do you require as a skillset? 

What are your non negotiables? 

What is your pay structure like?

Any help would be appreciated greatly!!!!!!!

@Deisy P.

My wife and I own and operate 106 units by ourselves no property management we do it all. I completely understand the frustration. When we first started and would hire out for handyman type jobs and such many took it upon themselves to over exaggerate the repairs thinking we wouldn’t know what the type of repair would cost. Kind of the same feeling when you go to get your oil changed and they tell you all the other things wrong with your car to get a sale lol

The best way to combat being taken advantage of is to have other investors on your team kind of like a panel that you can reach out to in situations like this. Call an investor buddy and see if he has dealt with a similar situation.

Another thing that helped us early on is having systems in place that are non negotiable such as collecting rents, how to handle this that or the other we had them specifically planned out so we had a road map when things would go wrong.

I have also found that being a female in this space is more of a superpower than a deterrent. Believe it or not women are usually more empathetic towards tenants and workers than a lot of male investors so many people would prefer a female landlord/prop manager.

Id love to be a listening ear if you ever need it! I got a lot of help and still reach out to other investors if I come across sticky situations.

@Alex Bekeza

I use Tammy as well she is amazing! I have a bunch over in Carondelet

@Lyndsey Whiteaker I forgot to mention $1,315,000 purchase price

@Kaylee Pratt

Owner finance 24 units townhomes

0 down

4% interest 20 year term

Best deal EVER!

@Ana Garrido trading up is buying small properties like duplexes and 4s and getting them paid down a bit as well as letting appreciation set in. Once you have a bit of equity cash out and buy a bigger property like a 16 or 24. Do the same thing untill you can buy a large complex. 

28

72 doors 🚪

All multis

Following the trade up plan started 14 months ago

STL female landlady here

Been doing it 9 months have 46 units!

Best part is the male tenants are shocked when I show up for maintenance calls 🖤

I have inherited all 20 of my tenants from buildings I have bought in the last 6 months. I have 5 tenants who pay 10-30 days late each month. I threaten eviction and send out 3 day vacate or pay letters after the 4th of the month but these people don’t seem to care paying the late fee each month and me not knowing if the rent will be coming in questions

Once you turn in eviction if you receive rent in the mail what do you do with it? Send it back and make them pay legal fees and let them stay?

After the 1 st of the month if you do not receive the rent what is your process and when do you actually turn in eviction?

I have heard every sob story in the book and with it being winter and around Christmas it’s like pulling teeth to get tenants to pay on time

Any advice is appreciated

Hello BP

I am a new investor who has purchased 21 units in the last 6 months

4 family

4 family

8 family

2 family

2 family

Single family

My question is existing tenants. I live in Missouri and I have 3-4 tenants who are late in rent every single month almost letting the rent go into the next month.

They all say they got a new job ect

I’m not afraid to evict people I just was wondering if there is a scary letter I can send out before paying an attorney hundreds each time to file the eviction? Would anyone care to send me what they send tenants who are late or don’t pay within a certain amount of days.

Also after how many days do you actually file? What is your process before you evict ?