All Forum Posts by: Shaune L Clark II

@Joseph D Chapman

That's an interesting way to word the question. PRO accounts in no way equal the amount of knowledge or experience the user has. If information is your goal, a library card or an audible subscription is by far the best money you can put on the table. If you need the added benefits that PRO provides and they will add to your income then pull the trigger.

Hope that helps!

see this is exactly why you do not drink while surfing BP. Totally missed the Paid cash part! now it makes a lot more sense.

Are you saying that after all expenses you are cash flowing 450 per door? If so that is amazing. I am around the 180 mark and I am more than ok with that on SFH's.

No, but today I am drinking Space Dust while surfing. So maybe later!

     So this may be an oversight but the National Guard falls under Department Of Defense. I am also an Active Guardsman and Department of Defense has a budget and we are being paid. The only Military Branch affected is the Coast Guard who falls under Department of Homeland Security. 

      I know others have said this is a business, but part of running a business is keeping turnover rates down. Evicting will cost you more than late rent. You should still charge late rent fees but if the tenant is in the Coast Guard I would just explain in writing that due to the government shut down rent will still be late but no eviction will be started until ten days after an agreement is reached. It should take about ten days for pay to be submitted.

     Side note for all of the hard core business minded individuals. Coast Guard men and woman are under Contract and cannot just quit and find another job. They can be charged and jailed for this. Should they have money saved? Sure, but 10% of their wages over a year will not cover most rents. And the tide can be turned on you also saying shouldn't you have enough in reserve to cover your vacancy?   

     Just my two cents!

Welcome to the BP community. Hope our paths cross soon.

@Bryan Freeman That is absolutly a good option. Having an open HELOC will not hurt you, and is in my oppinion a good idea for the what ifs... shop around for your HELOC also. Dont go to just one bank. Payin off the CC debt alone and what you save in intrest will bring down your debt to income. Then refinance, and in the future it is there for your use. Also make sure your bank is counting your rental income. I know not all banks do. Good luck.

@Dean Attali Ill just throw my oppinion on here in case it helps. As others have said this is absolutly not a tenant problem. This is a PM problem. Who knows what he said durring the walk throughs. Maybe durring the walk through he said "yeah ill get a storm door up there for you" and now the tenanat just wants it done. And you need to have an agreement with your PM saying he responds to your tenants faster than two days. If his job is "PM" he needs to devote his attention to it. I work a full time job and have it in my lease that i will respond within 24 hrs. Also come up with a flow chart that is easy to understand and go over it with your PM. For instance is it a safety issue? If yes repair imediatly if no will it increase the value of the property? If yes than schedule the repair if not will your tenant be willing to pay for half of said upgrade? Just get a flow chart so you dont have to think when the time comes just act. Always be polite and treat people with respect. If your flow chart leads to a no send a letter or an email that just says im sorry we (business name) do not feel comfortable making this purchase at this time. We can revisit it in the future perhaps during our next lease. We always strive to meet all of our tenants requests but we just have decidwd against it at this time. My honest oppinion is keep the tenant and ditch the PM... hope that helps.

@Brian Pawl Goals for 2019, 1. Q1 Aquire 1 SFH or Duplex (making offers this week) for Rental 2. Q2-3 Attempt our first Flip ... this is only if we can find the right deal 3. Q4 acquire another SFH for Rental 4. Performance goal, learn from our faults in 2018. And improve those processes in 19. 5. Read 15 more investment books, attend 20 webinars, and attend at least two local meet and greets. 6. Ensure we give our tenants the same service we would expect ourselves. 7. Explore other ways to invest in REI such as crowdfunding platforms like fundrise. Hope everyone gets where they want to be in 19!

@Ella Fleur A pre approval can be vauge and good for x amount, for 90 days. They dont have to be specific. If you are planning to finance the property this shows the realtor you arent wasting their time and that you are invested into this...after all, the realtor does not get paid unless you buy it. This saves them from showing the house to people who are just dreaming. If you are seriously against getting a pre approval, you could offer to take them to lunch and explain your situation at least they get a free lunch, and they may know of better houses in the area... lunch is cheap!