All Forum Posts by: Pradeep A.

Thanks everyone. 

1. My tenant is well off making more than $250k a year. He works for his own business. 
2. He has produced an email from his company saying that there is a suspension of all salaries for executives in his company for 2 months. 

3. He also says that because he is not laid off, he can not apply for unemployment benefits.

So I guess, he is playing victim here and I feel like I have no choice but to accept his story. I can only threaten an eviction when things come back to normalcy and I dont see that happening anytime soon.

@Russell Brazil Thanks for the suggestion. I will look into those options.

Thanks @Theresa Harris and @Michael King. My tenant is a well to do business owner. He makes upward of 20k a month. I understand that his business may be suffering a bit, but I dont believe that he is not able to pay his rent. In this case do I still follow the procedure you have laid out?

Hi,

My tenant is not able to pay rent because he claims that he got temporarily laidoff. I have a mortgage to pay on the house which is the almost same as the rent about $2100. 

I am in a tough situation. What are my options? 

Can I get him evicted in this coronovirus situation? 

Does the tenant need to provide proof that he is laid off? Does he need to show that he is looking for job elsewhere?

I can only give April rent deferred, but I dont know how long I will have to sustain this.

Please let me know what are the options and paths I could take.

thanks

Pradeep

@Paul Allen ha ha. No worries.

@Kyle McCorkel Thanks. I guess that is what I will have to do. 

Hi All,

I have tried both Mint.com and PersonalCapital.com, both of which are great websites. Mint has better interface and shows fico score for free too. 

The issue I have with both website is that I have mortgages through a local mortgage provider that does not have linkage to either of the websites. While I can manually add the monthly mortgage payment for these loans, I am not able to add my loan amortization.

Thus, I am here asking for your advice, if there is a software out there that will let me manually add a mortgage account which also has amortization schedule inbuilt. I envision, I would input the interest rate, loan balance and term of the loan, and it would automatically calculate the principal and interest amounts for each month and subtract it against my mortgage balance.

Any help is appreciated.

Thanks!

Pradeep

Hi @Daniel James,

Thanks for you replying. I would surely like to meet you in person very soon.

I would like to own a couple more SRF or a small residential multiplexes for now to get a good understanding. 

I drove around Wilmington Downtown as well as some nearby areas within New Castle County. The area has a lot of Class C/D type of properties based on how they look. I also looked up multiplexes for sale online in these areas and, more often, they have month to month tenants. This means it would require more frequent tenant turnover and added screening. I prefer long term tenants. So, I was considering areas outside downtown.

I will send you a private message with my email and we can explore a convenient time for a chat.

Pradeep

Hi @James Masotti,

Thank you for providing the references. I will surely reach out to Daniel and Brandon.

What you have mentioned makes sense. I work full time and do not get much time during the weekdays to spending time on REI. So a setup like SFR or small plexes, where I can be a landlord and have property management company maintain it for me, then it would fit my lifestyle.

I would like to connect with you soon and learn more about you.

Regards,

Pradeep

Hi folks,

I am relatively new to BP and not much experienced in real estate investing. I have a SFR rental property in St Charles MO. I have also been living in Wilmington DE for 6 months now. I am on BP looking to connect with people on the following:

1. I needed some contact information on rental property management that has a lot of experience in multifamily units. 

2. I would also like to get in touch with CPAs who own rentals (preferably multifamily)

3. Multiplex rental properties that show up on MLS in Wilmington DE area appear to be located mainly in the New Castle area. I am concerned that if I own a property there and have a PM company maintain it for me, it will still require me to be more hands on as compared to owning a property, say, in Trolley Square. So as a newbie, should I start of with SFR investing and then expand into multifamily?

I appreciate any advice. 

Thanks,

Pradeep