All Forum Posts by: Ryan M.

I love listings that say that, usually a highly motivated seller

2 - 4 units, 2% of pp monthly

Landlording is a 7 day/week hands on job. People forget the risk, like a basement getting flooded and then getting sued by the tenants for their possessions all while there is no income coming in. I managed to lose 13k on ONE property in a year, this included Excavating around the property to install drain tile, all of which we did in house with a skid and a excavator.

A lot of landlords lose money while they are sleeping because the rents don't cover ALL expenses associated with a property.

Where was this dog during your due diligence?

Thanks for the laughs. I always figured I would write a book someday with all the random/crazy stuff I've dealt with a saw.

Premiums will be next. Insurance is a company and companies operate to make money, costs go up, bills go up.

Here go building a deck of cards. Its a good idea till things go bad then you lose your house. If that's OK go for it.

These are the properties we are buying now on short or foreclosure on 40 cents on the dollar.

Albert Hasson

Thanks for replying.

Can I ask: who held these mortgages? Is being upside down required? Did you start the process with the current mortgage holder or a 3rd party company? The ones I have are at the current retail value owed, one has maybe 15k equity.

Thanks.

The people with money all up front are the people I want to check even more.

My rents with security deposit are around 2k. So I'm cautious when people say thats no problem.

After having people use those stupid pay day loans to get the money. I now will split the deposit over 2 months for the right people. I was getting people that were cash poor due to the repayment of the loans the 2nd month.