All Forum Posts by: Matt N.

Hi Team,

I had to fire a client recently and wanted to share why! 

MAKE SURE YOU VALUE YOUR TIME!

Do not deal with the following.

- Unrealistic expectations

- Don't be an "errand boy/girl"

- Don't deal with clients who are doing shady/illegal deals

- Do not deal with rude or crude people

Remember this. 

- If you are the professional you should provide professional guidance. If a client wants to deviate from this or change your process, consider if it is worth your time or energy to work with someone who is an exception. 

- Have a mission, a purpose, write it down. Only make decisions that point back to your mission statement! EX: "Nice homes for Nice People. Period." <- Dont deal junk properties/deals and don't deal with crappy people! 

It's simple, and your valued clients will get better service from you if you stick to your mission statement!

Good luck out there Philly! Reach out for any real estate needs. My team is here to back you up :)

-Matt

Hi Team.

Santander used to do HELOCs on rental properties. They shut down their lending arm. Does anyone know of banks that offer HELOCs with decent terms for investment properties?

Thanks!

Matt

@Daniel Villagra

Everyone is giving you great advice... 

This reminds me of something that happened to me. I had a young couple where the woman was the breadwinner. Her man was abusive and she left, good for her!! He stopped paying the rent. I had to evict both of them in court even though she was gone, because they were both on the lease. That was the law. I honestly believed the young lady, and did not want to ding her credit, but at the end of the day, she was on the lease, making her responsible for rent. This one was tough because I did know the tenants, I had to place them during covid so I was forced to meet them and evaluate their character before signing the lease. 

It can be hard to do, but we have to remember that we are not social workers, or policemen. They broke our contract. It's that simple. One tip: I use a google voice number and give that to my tenants. This way I can separate calls and my personal life. I've given up on personal relationships with tenants and use a property management company. I am still active, most tenants think I'm the handyman or an agent when I check on the properties. When issues like yours arise, my default answer: "Hang up with me and call the police right now, send me a copy of the police report for my records."

Feel free to reach out anytime. 

Matt 

@Linda Thomas

They probably can't prove retaliation especially after 5 months. Make sure nothing is in your text messages that would suggest you are retaliating. Fix the violations. Do not renew. It is your right to decide to not renew. This could be for renovations, because you have a family member to rent to, because you are "considering selling".... etc. 

Reach out if you need any help with landlord/tenant issues and check out my profile for some background on how I can help!

Good luck,

Matt

@Daniel Coffin

I can help you find a multi-unit building (up to 4 units) where you can use your VA loan and put very little down, maybe 0%.

Then I can even help you find veterans to rent 3 of the 4 units so you will live for free or even make money while you live there. 

After the required time you need to live there, you can rinse and repeat this. I find these type of properties everyday.

Reach out! I cannot provide my contact info here (its the rules!)

Good luck,

Matt 

@Gregory H.

For my own knowledge... In this scenario what are the family members asking the title company to do? A deed transfer? or a dollar sale?

What if this were to happen between friends, and not family members? 

Thanks,

Matt

Hi @Julian Cooke, Hi @Erica Wilson

I am an agent in Philadelphia and I work exclusively with first time home buyers and first time investors. My network of lenders can absolutely help you finance your first deal with little money down. The trick is to build relationships with smaller banks. OR work with an agent who already has those relationships established :) 

Feel free to reach out and we can get you started!

Check out my profile to learn more about me and see if we could work well together! 

Matt

I am selling a home seller finance in Philadelphia, 19144, if anyone here is interested please reach out. 

@Joswaldys Morales Check out my post in this thread. 

https://www.biggerpockets.com/...

Its a road map of how I acquired many properties creatively. Sometimes avoiding the bank all together. I work exclusively in Philadelphia with new investors. We should connect. niceguyrealty@gmail

Good luck!

Matt

Hi Tiffany,

It's going to come down to what their lease says. You can try to do a "change in terms" addendum now, they may or may not agree. Or update the lease before they renew it. In the addendum or updated lease you would make it so the water bill is split, or a fixed rate for them. I think a fixed rate would be easiest for everyone, especially since they are not on top of payments. I could give you better ideas if I saw their lease. feel free to reach out!

2nd, I would start documenting what's going on in case they break the washer. If that happens replace it with a new, high efficiency unit, and try to get them to pay for all of it or most of it. 

Good luck!

Matt