All Forum Posts by: Matthew Cole

Are you self managing? If so, that's too far. If not, why 1.5 hours? If you find the right area and mgmt partner this is a global business. My suggestion is to buy local and self manage to start. You will learn a lot. Good luck!

Well if you are living for free and generating cash flow too then yes, that changes a lot of things. How much cash flow would you have if you rented all the units? For a $230k property I personally would want to generate around $4,600 a month in gross rents, but I am in MI and maybe that is not practical in PA. Conversely, appreciation isn't something I see much of with my properties so unless I buy at a discount and can build equity through capital improvements I need to generate solid cash flow to justify throwing $20-$40k to purchase a property.

Not enough cash flow for the money you need to invest to get into the place. Unless you think this MFG is severely discounted this doesn't seem like one I would pursue. Good luck!

Did you have her complete a checklist before she signed a lease? If no, the. You might have trouble keeping some of the deposit. If you did have it completed and these things weren't sited as issues then your well within your right to keep the necessary funds. Personally it sounds like this tenant exploited your kindness and took advantage of it. If repairs exceeded $800 I wouldn't give her a dime. Good luck.

Could be 4 properties that are multi family so more than 4 doors.

Who's running a non-profit business on this site.....? My experience with HUD homes has been hit or miss personally.

Laminate all the way. It will last longer and you shouldn't have an issue renting if you choose something that looks decent.

I use the app all the time and it has issues. Crashes frequently, doesn't tag, etc.... Love the site though.

Also you will likely never see the judgement money. And you don't need an attorney for this if you want to save some money. This is straight forward.

Time to start eviction process..... Well it was time about two months ago. I had a similar situation on one of my units. Inherited a tenant and right away they were late or paid partial payments. Let it go for about 6 months and then decided it was enough. Lost about 2 months in rent by the time the tenant was given 10 days by the judge. Had the place rented 11 days after they moved out which included painting the whole unit and refinishing floors. Also raised rent. Now I send notice to quit immediately. I had to do this once for another unit and the women was shocked that I arrived on the 2nd of the month with a NTC. After that she has paid on time ever month. Hoping a tenant pays is not how this business is supposed to work. When you get stuck with a bad tenant its best to legally get them to leave and move on. Good luck!