All Forum Posts by: Nik S.

Shop lenders. 

@Himanshu Pagey - I am not a fan of headaches however I am a fan of making money. IF there is potential solid cash flow returns on your home (including a PM fee), then rent it. Assuming the cash flow out weighs all negatives (not sure if you have a mortgage or not). If this house is paid for, would it make more sense to reinvest the cash into a better investment vehicle, whether property or stock portfolio? Numbers game. 

This is spring time, houses are best to sell at this point so hang tight if its worth it to you. Sometimes taking a small hit can move you forward.....hurts but CAN be the solution. Carrying two homes or more can get financially heavy. 

I can agree that a 10k price drop isn't going to attract any newer buyers or previous viewers. If trying to sell quicker, the price cut needs to be more aggressive, 25k+. 44 DOM isn't terrible at all so hang in there. Price range isn't for every home buyer and thins out the higher $ the home is, so give it time as well. This is prime time for selling homes and it's just started. Generally, if the home is beautiful and has great features and isn't selling, its price! It can be a tough decision to drop price but sometimes it is what helps to find a buyer. Good luck and awesome home, it will sell! 

@Nik S.

Also when doing the title search, a deed restriction was such agreement.... doesn’t make sense, the whole clear title situation. Keep us posted!

@Joshua D.

I believe he is simply stating that yes you can purchase it...but expect the other members of the family to form a lawsuit against both you & the “seller”. So buyer beware and he doesn’t want anything to do with it. If the agreement on the property is that they have first right for purchase, then they have first right to purchase. I don’t think you can sneak around this once they find out. Sounds sticky and your money could be at stake. Risk is only worth so much. Consult another attorney for a second opinion to make your final decision! Good luck.

@Ikaika Farmer

A lot of good suggestions here. Your journey in life is always unique. There are many ways to reach level 1. It’s good to keep turning the wheel...reinventing is awesome but sometimes you can do it by consistency. As others have mentioned, focus on higher incomes, Saving/investing and not adjusting your lifestyle upwards as you make more.

Some individuals want to work from 6am-7pm grinding all day and night.....to me that’s not life. I prefer a less stressful life. Life is meant to be enjoyed. Hard work is inevitable but eventually hard work can turn into SMART work. To me, that’s when you made it. I am looking forward to stepping out of the day to day grind but for now it’s what it takes for me to reach my goals sooner.

Remember try not to compare yourself to others. Focus on your own life and make it happen. No one is going to do it for you and the lottery to me is a waste of time and money.

The first million is the hardest :-)

@Konstantin Boubev

I know the feeling. Just as many others, we’ve all seen a lot and will continue to see more. The industry itself is tough.

It took a little time but I found a crew that had more positive attributes than negatives. They are fair with prices, there work is pretty solid but they work slow (and some other quirks). I try to keep them as busy as possible so we keep the relationship going. Sometimes the known is better than the unknown :-)

Truthfully, I don’t like the management aspect of the business but it’s just part of the game.

Good luck!

@Sarah Pursell Emotions aside in the business. Money is the name of the game. She appears to be a professional tenant with a sharp attitude. Oh well. Keep communication limited. As long as she’s not damaging your unit or making uneccessary demands, keep your ego out of it. If you can afford to not honor her lease extension, turn the unit over and find a new tenant, that’s your personal call. As someone else mentioned, I rather take a tenant with an attitude that pays religiously than a nice tenant that doesn’t pay on time or causes other problems. Surprises aren’t my favorite at time :-). Keep the cash flow rolling in and remember, your profiting from her and your investing is supported by her! Sometimes the best way to beat some tenants is reverse psychology!

@Carson Kesner Hey Carson, glad to hear about your first experience as a landlord. To me, this is a win. Theres a lot of folks who don’t like payments, just paying up front. It’s very normal. If he signs a 12 month lease, then legally he owes you for the duration of the lease, regardless of a divorce. If it was me, I’d accept the offer and conduct business as usual. Your in the business to make money. In the end, go with what you feel Is best for you.

@Patrick Tudor Once you gain that many units, your job is to manage the property manager and or hire asset manage. Passive can mean different to investors. I consider my apt investing passive as I look over the data provided by my PM. If I have questions or concerns, I send an email. I’m hands off where some others would prefer to more hands on.