All Forum Posts by: Sean Rana

Wow that is incredible! Can you share more about your experience and how that changed certain beliefs that you've had about RE investing? 

I think tenant scores vary, but it really depends on your screening process and how you view that process. The thing is, at least what I've learned, is that you should treat it like you are investing in another asset/business, you need to review all the sides. The score is just a number, and that may go south really quickly. But on top of that, you need a lease that is ironclad. 

Wow amazing! It's inspiring to see so many people step up and support themselves. I feel like landlords aren't being treated fairly, and its great to see this take place. 

The lease option is a very beautiful tool and one that is so powerful and great. It basically allows for you to own the property without actually owning it in order to see how the property performs, and when that lease period is up, you can buy the property. This means that as long as the seller/owner is engaged in the lease option, they are not allowed to pursue the thought of selling to someone else. I know that multifamily real estate investors definitely look into this option a lot to test out the cashflow and general performance of the property. 

@Darian Hardy Network with others, join REI groups and clubs, find people here on BP, and maybe even do a partnership with another established wholesaler with a very extensive list and resources. It wouldn't hurt to try different options, but trying to do everything by yourself is very redundant, you have a lot of resources you can use.

@Zach Haggstrom I will look for other properties and make my monthly passive cash-flow to be greater than the income of my normal job, and then I will start to look into expanding into other areas .

@Nic LeTexier Amazing! That is definitely a good way to analyze. I prefer a simple notebook that I can carry around. It also feels good to see all those deals “in my inventory” even though many of them are already sold and off the market lol.

@Heather Rodden I think you should clean it up and then do a thorough inspection. But, I would suggest to look beyond that and prepare for further cases that are similar. Do you have a tenant screening process? If so, what aspect of it failed that allowed for this to happen? How strong is the lease agreement?

@Thomas Garza Firstly, if you have the landlord’s number, it’s best to just call them up and see if they “work” for you in the first place. Fill your pipeline and try to hit as many leads as possible. From that point on, if they do ask you to stop bothering them, you should respect their decision, ask for a referral, and see if it’s appropriate to call them back later(maybe a month or two later). But if they are really annoyed, it’s best to respect that and move on.

@Cerise Goldberg Yes definitely. Also, when you get more properties, you should get more checking accounts for your properties. One of the best advice I’ve seen for investors is to treat this like a business. Also, get a system in place for your tenants and yourself as well. It will help you maximize efficiency.