All Forum Posts by: Ryan Spath

@Welmon Pippin have you tried joining local FB groups to the property and asking for referrals there? Could be another great way to source help. Best of luck!

@Anthony Stahurski personally have not used a VA loan as the don't apply to me personally. 1. However, when starting out it would have been great to house hack a 4 unit. If you are able to find a way to get a few of these in your portfolio your financial trajectory will be amazing. 2. Real estate is a long game, it is like planting a tree, it takes years before you can start to see any significant shade (cash flow) from your actions today. Investing in real estate is the best thing a person can do to secure there financial position in the future in my opinion. Best of luck!

We set up our criteria and once something met it we just dove in. We made sure that the loss of the initial investment would not sink us financially. The first deal is all about taking action, looking for a base hit and having the confidence to take action. 

@Seth McGathey prior to becoming an agent I liked the ones that provided value. Agents that understand returns and buy boxes, folks that operate with integrity and don't simply have "commission breathe" 

@Nate Pucel I would 100% get with a CPA on this. Everyone is going to have advise on this and we do not know your exact situation. 

@Robin Cornacchio 

Here is our "early termination" clause: Be sure to check your local laws and confirm what you are trying to achieve aligns with what is legally allowed. 

Early Termination. In the event the tenant needs to terminate this rental agreement earlier
than the agreed upon for any reason, the tenant shall give the landlord a 30 day written notice and be
subject to pay two (2) months rent and forfeit the security deposit.
(J) Example: Tenant notifies landlord on January 25th with intent to vacate property. Tenant
will pay normal February rent and possess property until the end of February. At this time the tenant will
be liable for two (2) month’s rent and forfeit the security deposit. For this lease the total sum due would
be $4,400.00, and the tenant would forfeit the $1,850.00 security deposit.

@Jose Henriquez have you considered going to local meet ups to network and get referrals?

@Alex Sanchez In my opinion the biggest pain point is when a person buys a property and does not treat this as a business. They have no systems & process to follow. Everything seems to be plugging along fine in this way of doing business until it is not. 

The biggest tool private ll can use in my opinion is some type of online rent collection, I hear to many folks with a few properties that use venmo etc for payment. As I mentioned previously this works perfectly until it does not and you have to remove someone for non-payment, and then they venmo you 25% of the rent etc. and now you have to start over. 

People often get a case of the tired ll syndrome when they do not have the proper tools/systems and do not treat this like a business even at the smallest level.

@John Chu Congrats on the investment! You should reach out to the insurance agent you have for your primary home and ask these questions. Every scenario is different. If you do not have a home in the location you are buying the investment ask your realtor for a local referral.

@Mila F. Here is out "early termination" clause: Be sure to check your local laws and confirm what you are trying to achieve aligns with what is legally allowed. 

Early Termination. In the event the tenant needs to terminate this rental agreement earlier
than the agreed upon for any reason, the tenant shall give the landlord a 30 day written notice and be
subject to pay two (2) months rent and forfeit the security deposit.
(J) Example: Tenant notifies landlord on January 25th with intent to vacate property. Tenant
will pay normal February rent and possess property until the end of February. At this time the tenant will
be liable for two (2) month’s rent and forfeit the security deposit. For this lease the total sum due would
be $4,400.00, and the tenant would forfeit the $1,850.00 security deposit.