All Forum Posts by: Manmath D.

 I'm more worried about the market now since I've to sell this property (that was the plan anyway) and move on for better opportunities. 

Aaron tenants moving out was my biggest concern few days ago but now I'm more worried about the market and my plan to sell that property. I've reached out to my realtor and asked her to see how things are and her response was not encouraging.

I really had planned months ago to sell this property in summer 2020 anyway. It’s another story that I’m not even cash flowing on the property (was primary residence). Hence getting rid of it. Here is what I’m thinking, If I can sell it now and at least get what I bought it for 6 years ago is better than If I wait and loose more in the near future. Don’t know if market will pick up and when. More likely scare will subside for a while during summer. I have a feeling that it will get worse over time and will take few years or more to get back up. It will be a lesser loss this summer than waiting and selling a year later.

I wanted to know what would you do in this case. I have a rental SFR in WV that was primary residence before moving to WA state. Tenants lease expires on April 30, 2020. I had talked to tenants 6 months ago and let them know that lease will not be renewed and also sent them non renewal letter by certified mail 45 days before their lease expired. This tenant has been late paying rent for last 3+ yrs every month but I do get the payment. I even reached out to tenants and asked if I could help them in anyway finding their next home, also told them my realtor has few units for rent. When my realtor reached out to them she was told they need something bigger than what she has.

I don’t know if I’m just assuming this but I’m afraid they will be a trouble moving out. And also given the current lockdown situation it creates another issue. My plan is to renovate this rental and put it on market for sale. There is no doubt that I would like to sell and get some cash for next project. Not sure how’s the market going to be in next few months when I put it for sale. One thing, it’s in a good location. Just not sure if I will get what I had expected few months back. What would you do or how would you tackle these issues of getting tenant out and sale. Thank you for your feedback.

Thanks @Michael S. I'll try. However weird thing is if I goto one of my old reports and edit that, I'm able to do it but if I start a new report it's not showing results. 

I'm trying to run some numbers on 5 Plex that is about to go on market. I thought I would hop on here and plug in the numbers in rental calculator but it is stuck and won't move when I click on calculate results. Just wanted to know if I'm doing something wrong or there's a glitch in the software. Is anyone else having issues or is it just me ? It's frustrating!!! I had told the showing agent I'll get back to him in an hr. He was really impressed with my analysis last time and told me I'm the first person he called before he puts this 5 Plex on market sometime this week. Truth is I'm the "F" student on BP community here LOL!

I couldn't find this form under Landlord resources so asking it here. I have a rental property (Previous residence) in WV and the lease is about to expire at the end of April, 2020. I plan to sell that property after the tenants lease expire and I cannot find a form stating that their lease won't be renewed and property be vacated by end of the term. I have already spoken to tenants few months ago and then again today letting them know that. But I would like to do this the right way. 

Any recommendations on where to find a form or simple letter is fine ?

Thank you.

Thank you everyone for your feedback. This really helps me understand moving forward. All this is pretty new to me and I'm just trying to explore MF segment. I do have couple of deals under my belt and feel I should focus on MF moving forward. Not because everyone's talking about it but it aligns with my future goals.  Did not want to make a focus on cost of the program but also wanted to see what I get for it.  Although cost is an important factor as well including other things. Compare to thousands of $$$ most of us spend on school and then work 9 to 5, 20k to learn about MF and build relationship with brilliant people in the industry is a good investment. 

@Ryan Hogan really appreciate your detailed feedback and it definitely helps me understand the program and its objectives. Although I was waiting for @dillon McGough to call me but never received any call from him. I have sent him an email to reschedule the call. I'm really ready to grind it out and make it happen. And I'm sure with right training, mindset and guidance I can achieve my goals.

@Hadar Orkibi Thank you for your reply. This all really helps me starting out. This is all new to me and obviously I'm nervous but I beleive that I can do it, and it's possible. 

I know this question has been  discussed here many times. But wanted to get your perspective on this one. I reached out to Jake/Gino about their coaching program and was contacted by Dillion. I let him know what my goals moving forward are and asked him about the cost of coaching. I was told the investment to work with them will be  20k and that's for 2 year relationship with the group. I'll be talking to him soon,  but I'm sure that I read somewhere their coaching was around 3k. Has something changed or is this pricing for some different product that I'm not aware of ? I'm definitely  interested in hands on training but wanted to get some feedback from this group.

Thank you. 

@Taylor L. Thanks. I'll look into Quest Trust Company.

@Mike S. Thank you. That's what I was told by an agent at Specialized Trust Company. They recommended that I have an LLC that shows Business transactions and not just an LLC with no cash going in and out to have a solo 401k. Although I'm employed, I'll have to find a way to open an LLC and put my rental (Duplex that I live in) into it.

@George Blower Thank you. That's really helpful information and I'm trying to soak in as much as I can. Looks like there's ton of info on this subject and seems complicated to me at least for now. 

@Greg Dickerson Thank you so much for your feedback. I'm confident that with right focus and education, I'll be able to do this. Just need to jump in and get the necessary training. 

@Michael Reilman Thank you. I've already listed my phone with @Damion Lupo 's eQrp co and trying to understand the system. 

@Alina Trigub Thank you for the clarification on that one. Not sure why make it so complicated by giving it two names. Why not just say solo 401k. It threw me off when I first heard Damion Lupo on one of the podcast talking about eQrp. But that episode did help me understand a little about UDFI Taxes that I was not familiar with. 

@Brian Eastman Thank you and I'll look into more detail. 

I wanted to know your thoughts on this. I was thinking of moving close to $200k from an old 401k account into SDIRA. I’m not much familiar with SD custodians. Only one I know is Speciaized trust company. Do they vary a lot in structure or fees ? Are there any other reputable custodians that I should look at ? My main goal in doing this is to find a reputable sponsor to invest with solid long term returns. That brings to my next question, which is finding a good sponsor and MF investment with good returns. Do you guys recommend anyone in particular . I’m familiar with Matt Faircloth, Jake and Gino, Corey Peterson and few others.

I’m also looking to get into Jake/Gino’s coaching program. I have reached out to Corey Peterson to get into his boardroom but haven’t heard back yet. I have 100k in cash I plan to start with (I know it’s not much) to reach my goal of 4 to 5k/month in cash flow in next 2 to 3 years.