All Forum Posts by: Mindi B.

Has anyone invested through Triple Net Houses? www.triplenethouses.com

Any good or bad experiences to share? Any downsides to this type of investing? 

I read an article about a landlord that gave all his tenants Christmas gifts for many, many years. Then one year he gave no gifts. One of the tenants sued the landlord and the judge ruled in the tenants favor because after so many years of receiving gifts, it was "expected."

I can't relocate the article, but kinda scary. What happens if you have a bad year financially and cannot afford to give gifts to your tenants? They may take it the wrong way and cease being a good tenant.

You should have this addressed in your lease agreement prior to the tenant occupying the premises. I have it written in my lease that any repairs under $100 can be made by the tenant at the tenant's expense. For all repairs over $100, or anything the tenant wants me to pay for, I need to be notified beforehand.

Sounds like the tenant might not want you to have access to the premises and disguised it by the lock "breaking." Really... how often does a front door knob "break??"

Definitely get a copy of the key from the tenant ASAP, and the old lock.

I have run into a few instances where the applicant was waiting to hear back about another place first, and just stringing me along in the meantime, as a back up plan in case they didn't get their first choice.

IMO, if an applicant can't even keep an appointment, how can you expect them to pay the rent on time? That is reason enough for me to cut them loose and say they are disqualified.

You can join ARPOLA, they have state-specific leases, addendums and tons of forms you can use, they also offer a low cost tenant screening service and discount at Lowe's store.

I would also advise joining a local REIA group or landlording association so you can network and learn from others. I learned TONS when I started talking with others in my area and getting referrals.

I would also advise against the PM. They don't care about your property, and they don't care about your cash flow. Nobody will manage your property better than you do. It's really not that hard once you get the first few tenants behind you. I would recommend joining your local REIA group, or finding a landlord group on Meetup. Asking other landlords about how they handle situations is a great way to learn.

I have never met a landlord that was happy with their first PM, or with PM's altogether. They are constantly getting screwed and looking for a new one, which in my opinion is just as time consuming as managing it yourself.

Some PMs offer a tenant placing service, for around $500 they will advertise, locate and screen a tenant and guarantee they stay for 6 months. Then you would handle the property after that.

I was wondering the same thing. If you want to make a career of real estate investing, why are you bothering with a nursing degree? I would do a major in either Economics or Business.

When you get your first property and start renting, I recommend "Landlording" by Leigh Robinson.

Wholesaling is a great way to get started in REI, especially with no money and no credit. That's what I would do if I was back in college.

You can also buy it off ebay at a deep discount.