All Forum Posts by: Nature B.

@Bob B. 

My properties are in Austell and Marietta

Thanks everyone.  I'm just really venting.  I'm not at the point where I want to evict my tenant.  She always ends up paying all the money before the end of the month.  I just feel that if my PM would do what I ask of her then my tenant would pay the rent on time.  If my tenant doesn't see the consequences of paying late then she'll never pay on time.  It's up to the people that I hire to enforce my rules.  Yep, the more I talk this through the more I'm convinced I need to fire my PM. 

I firmly believe that you never know how good or bad your property manager is until you have issues with your tenant or your property.  With that said, I'm having issues with my tenant and therefore I am now having issues with my PM.  My tenant has been late a few times and I've worked with her to find a solution that works for us both.  That worked for a month but now she is making slow payments again and my PM is letting her do so without reprimand.  Today for the 3rd time, rent was either late or short and my property manger just deposited the money into my account without saying anything to me about the shortage.  It states in the lease that if the tenant is late after the 5th they are to get a letter stating that they are to vacate the premises.  It also states in my contract that the PM is to copy me on the letter sent to the tenant, neither of which has happened.  I sent a strongly worded email to my PM about not enforcing the terms of the lease and not upholding the terms of our contract but honestly I'm tired of having this conversation.  I think it may be time to fire her and find someone else.  Does anyone know a good PM in the Atlanta, GA area?

I would rent to them, but I wouldn't bank on the younger couple sticking around for longer than a year.  They are trying to get themselves together and as soon as they do, they'll leave.  Then the older couple won't be able to afford the home.  But for a year at least, I think they are all dependable.  I'm assuming that's how long the lease will be so you're good.

@Jay Hinrichs 

I would like the book.  I'm trying to invest in a different state as well.  This would be very helpful!

I've never used a wholesaler before but I'm seriously considering it.   When I've purchased houses before, I've use a real estate agent who helps with negotiations and the closing paperwork.  Should I get an agent or a real estate attorney to help with these deals?  Any advice is appreciated.

I want to approach my landlord about purchasing his home prior to my lease ending. I would like to make it my primary home for a while, fix some things up while I’m in the house and then rent it later.(I want to do it this way so I can get a lower down payment for the loan because it would be my primary home and not an investment property). My issue is that the landlord lives out of state and has a property management company. Should I send a letter to the landlord directly or ask the property manager to relay the message to him? I imagine the management company may not want the lease to end early and would not relay the message but I’m also worried that the owner may be put off by me contacting him directly. Any thoughts? BTW, I do not know this owner, I looked up the tax records and found his information.

Thanks Mike.   I'm actually interested in buy and hold so maybe I'll research soft money loans too.  Are they different than conventional loans?

I am looking for an investment property and the local real estate group that I've networking with often suggest using a Hard money loan.  Can someone explain to me how that really works?  I've heard that they can be up 12% sometimes?  If I got this route should I look for both the Hard Money lender and the Conventional Lender before I buy?