All Forum Posts by: Patrick McGrath

New Bill past 10/1 states no evictions or foreclosures for 1 year for non payment as of date of bill.

Thoughts?

https://www.bloomberg.com/news/articles/2020-10-03/house-coronavirus-relief-bill-would-ban-evictions

@Johan Yang

Follow as I have the same questions.

@Russell Brazil

Russell do you currently rent to tenants with vouchers? All my properties are C+/B- and we always have people ask but always said no.

Just wondering what this is going to entail.

Law states you can not discriminate against income sources. IE housing vouchers.

Thoughts? What does this mean, do we now have to sign up for all programs?

https://www.nbcwashington.com/news/local/new-laws-taking-effect-oct-1-in-dc-maryland-and-virginia/2431910/

@Zach Gring

Congratulations Zach! Way to go, on to the next one.

@Anna Sagatelova

This right here! 100% great advise and actually what I said.

@Anthony Walker

Open a completely separate account for deposit (savings) and rent (checking). Put everything in your lease. Do a background, credit check and call job and landlord references. I know this sounds simple but this will save you so much. You would be surprised how people lie about jobs and everything else.

Make sure to if you are not handy to have a good handyman to handle the small issues that come up when people first move in. If you can go with month to month that can be converted to year lease if you so chose. This covers you if things go south after a few months. And remember being a landlord is a people business as much as a real estate business. You can be a good human and business person at the same time.

Just my 2 cents.

Thoughts?

Looks like he was doing some shady deals.

https://therealdeal.com/miami/2020/09/30/lawsuit-seeking-class-action-status-accuses-grant-cardone-of-misleading-investors/amp/

@Scott Lepore

Wow. Sounds to me like a lot of people on here think everything should be so easy. The BRRRR strategy is just that, a strategy. They literally preface in every show with, this may not work in your market, but there are markets out there it will. They just spent almost a whole episode on this.

I moved to a sub market because it has more multifamily and BRRRR potential than where I was living. If REI is your passion and truly your road to financial freedom, you will find the deals and the way.

Just my 2 cents.

@Shiloh Lundahl

Love the goal! You can do it!