All Forum Posts by: Perry Livingston

thank you @Keith Resnover and @Nick Giulioni. I've reached out to both of them for quotes. I really appreciate the help.

Does anyone have any recommendations for a home insurance provider that covers indianapolis for sfh new builds? Thank you in advance for your help.

Does anyone have recommendations for a cash-out refi lender that originates loans in Indiana? Thank you in advance for your help!

@Lindsey Hughey it's the previous tenant. We have photos of them and passed them on to the police. Also, our contractors have installed several SimpliSafe cameras around the perimeter that we are able to take with us to our next build. We, unfortunately, couldn't get someone to stay in the house @Charles Carillo but we have someone frequenting the property until we hand over the keys at closing in 9 days. We definitely had some great lessons learned here and will be stepping up security on day one for future properties.

Thanks for the advice @Charles Carillo! We are many states away but I'll reach out to my crew lead to do just that. We also decided to invest in a bunch of simplisafe cameras. I appreciate the help

We are about to finish up closing to sell a house we are flipping. We have had pavers, ovens (yes plural) and shrubs stolen over the past few weeks. We know who the culprit is and have put in a few police reports, installed fake cameras and security signs as deterrents. I was hoping to get some recommendations on temporary actively monitored security systems that we could take with us to our next build. I really appreciate the help!

@Keaton M. I don't know much about the laws in your area so you should definitely consult with a lawyer about increasing rent and how to structure it if you're allowed. Pet rent + new security deposit to your point is definitely a great idea. In my area just to give you a little bit of insight, you need to call out specifically what you're renting in the lease. For example, renting the property by the room or as a whole unit. In my state that is how landlords are able to exponentially increase the rent as the number of people in the unit increases.

@Keaton M. For anything make sure you're following local laws and regulations before having them sign a lease. With that being said, take away all emotion you have towards these tenants and keep with the facts (payment history, credit score, criminal history, references etc.) In addition, reference your lease with what it says about roommates, general occupants or additional tenants. That lease is your leverage to do with the situation as you please. If all of the above is within your level of comfort to keep them on the premises, definitely put them through the same credit/background checks you did for your current tenant. If everything comes back ok you can either add an addendum for an occupant or make your current tenant sublease to that individual to keep paper separate and have your tried-and-true tenant held liable for everything that new individual might do.

@Evelyn Castillo it's all about perseverance, mind-set and patience! If not something today, you'll find it tomorrow. If you can't find it on the MLS, get creative :-). Look for rental listings that have been sitting for a long time, walk around your neighborhood and look for the one house "no one likes to look at" and knock on the door. Found a house in pre-forclosure? maybe you can be the one to swoop in and help someone out of a bad situation while also getting a great deal. If you're not opposed to a rent by the room scenario, SFH might cost less for a lower barrier to entry.

There's money to be had in every market, you just have to keep digging until you find it. Math is everything here. Analyze as many deals as you can like the ones above and you will find something; the BP calculators have helped me a ton there. Also, before I forget BP just published a book on this! Definitely check it out if you haven't already

I'm not in the Chicago market @Claire Rosenberg however, one of my favorite strategies is combing through rental listings that have been sitting on zillow, craigslist etc. for a month or more. Response rates tend to be higher and it's very unlikely you'll be up against any other competition :-)