All Forum Posts by: MarieChele Porter

Lol ok Cool thanks I'm gonna PM you... @Rob Gillespie

Lol ok Cool thanks I'm gonna PM you... @rob

Thanks @Rob Gillespie I like Garfield Heights but I feel like houses sit on the market a lot longer than average do you find this to be true?

@Thomas S. I know for a fact that the location matters especially in choosing the quality of the home and lots of places are not great in small MFH's. I agree tho I do need to choose and get the team set up I choose not to call it procrastinating, I'm trying to choose the best place for me right now even though it may not be perfect I want to know that I've done all my research before diving in... Swear I'm not going to get stuck in analysis paralysis! 

@Chris T. California in general is still out of my budget that's the reason why I want to look out of state but you're right I need to pick a place and form a team.

Hi All,

It may seem that I've played the common disappearing act but I have been very active! I have been reading books, listening to the BP podcast, and attending my local real estate events. My hardest thing yet has been deciding where to invest. I've pretty much thought I had it narrowed down and then another city or state came in mind. My criteria is however pretty much set. I would like my first investment to be a small MFH 2-4 units with minimal construction needed or a partner that can be boots on the  ground during a rehab. The areas that I have narrowed down to are pretty much anywhere in Texas, Birmingham, Al, Garfield Heights / Cleveland, Ohio, and Chicago, IL. I was considering Sacramento, CA but I don't think there are houses with my criteria in my price range, which max is about 85k-100k. I'm looking for any ideas, advice or comments. Oh I'm also flying to the Houston, Tx and Lake Charles, LA area if anyone is willing meet up and talk about real estate in your area! Thanks everyone!

I think putting your money into a rental would be a great start on your real estate investing. Whatever you are doing with the wholesaling STOP !! Reevaluate the process and educate yourself more about the market you are trying to wholesale in. In my opinion 2 years is 2 long to have put out so much money with no return. Maybe hookup with other wholesalers in the area and have them show you the ropes !! Network my friend! Hope this helps.

 Like I said I understand that he said the client was informed of the 30 day wait and no he shouldn't have put the deposit down if he wasn't in the position to wait the 30 days, however do you think it would be worth the trouble of fighting with the tenant over the $850 some odd dollars or rejecting the tenant and keeping the deposit as he previously asked? As a landlord I do believe it's important to uphold strict rules but at the same time I think it's still smart to pick your battles. It would be different if it was a problem after the tenant had already moved in but this person seems like they would have been a problem anyways and he probably dodged a bullet. For me yes he missed out on at least 2 months rent as he has to restart the process, but I don't see it for me being worth it to even fight with this person over the deposit.

Piggybacking on what Michaela and Michelle both said technically the condo was not "held". On day 30 the HOA could have very well declined the lease and this person would have had no choice but to move on anyways. Just from what I read the holding deposit could only be used if the tenant was approved and then moved in let's say 2 weeks later. Just as it's frustrating to you as a landlord having a tenant wait 30 days just to find out if they are accepted into a place it's frustrating to the tenant. I understand you say the tenant knew upfront the wait but if they were in dier need of a place to live and they found a for sure apt can you blame them for choosing that? Of course then they would then need their deposit for the new place. Just a different perspective to put yourself in their shoes. For future reference consider screening the tenant better to insure they are in the position to wait for a 30 day approval process and speak with your HOA to see if there is any way to streamline the process. Most importantly for the next rental property you buy consider 1 that does not have an HOA or that will accommodate your needs better. Hope this helps.

**not a lawyer this is not legal advice**

 Great thanks! I see you're a turn key provider what is customary to do if it appaises too low?