All Forum Posts by: Staneley Cesaire

@Paul Stewart Because you live there, i would ask them to leave (my 7 yr old daughter just said to ask for more rent) this is not a bad idea either. Some people will just leave, saving you an eviction cost. Others will be more responsive, paying fees can be a good deterrent. You can tell them the reason, pest prevention, make sure add something for yourself since have deal with this issue. When house hacking I feel it is very important you feel comfortable with your tenant. So Take photos of the condition and evict. Now if they have a year lease. This will not be easy, “dirty “ can be a matter of opinion. In that case i would continue to tell them to clean up and be very specific. tell them exactly what you are worried about like, you might want to say “ take out the trash by Monday 5pm”, or “make sure you put trash in this container “ next do pest preventative treatments . That way when or if pest comes around you already set up traps for them. Good luck!

That means in 5 years you will have to pay the whole balance!

I offer tenant a few method to pay rent. They can mail in money order or a bank check, they can deposit at a bank account set for tenant to deposit money, and lastly they can pay online in our managing software in their tenant portal for a fee. Most of our tenant mail out, a small amount will drop it in the bank, none pay online. 

In my opinion, somtime it is difficult to tell from a class d or a class c. I am not talking about war zone. But it has a lot to do with your own way of thinking. Most people who invest on properties in “class A” areas spend tons of money providing the best property. Then when that same person buys a property in a “lower class” neighborhood they go cheap. The reason giving is it’s just a rental, tenant will only brake it. They buy used stove, fridges, don’t paint well, etc... When they try to rent it out. The best tenant in the area notice this and don’t take it. The tenants that don’t care takes it. That tenant immediately start calling about the fridge not working, then about their kids getting lead, etc... What do they do next, well they send the cheapest worker, who is either angry that he is working cheaply or inexperienced. He probably causes more damages, but the owner will never know. They don’t go there cause they secretly hate the place and the tenant. Now imagine this! Imagine you fix the place right. I am not saying put the high end, top product but buy new appliance, paint well, treat the place like it is an “A class” property. Treat the tenant like they are “a class” tenant.  Fix the place right then put a good tenant in, that will stay. Screening is important. Find someone that has a history of staying in there home, clean, and can pay. You will be surprised to find out in “lower class” neighborhood there are great people who are dieing to have a nice, clean home. Many of them will not get a home in “higher class” neighborhoods. They will often get denied because they get some form of assistance. Other time they still want to be near family and friends. keep in mind when accepting a person who gets assistance don’t buy high end stuff. They not be able to replace it if something happens.  However don’t go cheap. Things that are too cheap can cost you more in the long run. So find middle ground. Also ask in your application If you can inspect their current apartment. How do they treat the appliance they have now? Is the place clean, etc...These method ensure you have a good tenant and don’t get to many calls. This strategy will put you ahead of the game cause most landlord in these areas are not thinking this way. Soon the word will travel how your managing and the better tenant will start to find you. Keep in mind these class system “C class, D class, B class” can also be in your head. if you treat your place like it is that class then it will be that class. Many may not admit it but often when people talk of class system, their categorization is heavily influenced by neighborhoods race or ethnicity.

the funny thing about that question is, each time you get close to your goal, it seems your needs and want moves up!

The best thing to do is call two landscape company find out how much it will cost for you to replace the tree and what ever else they did. Sue them for it using the lessor quote. You win and may not win, maintenance of the lawn can be broad to some they can say the tree or bushes was dying etc..., you may even find it best to kick them out if you don’t like the tenant or try to work something out with personally or just let it go. Also think of the cost to get them out, empty apartment, the stress of court vs the cost of replacing the tree or maybe you might want to leave the place with out the trees and keep collecting your rent. When it’s time for them to keep the deposit for the tress.

We bought the ugliest house on the block that had as much space as I thought we would need for years to come. We continue to renovate the the house as our family grows. We are 30 minute away from the city were we have investment. My focus in where to live was close enough to our rentals to get to, but far enough that tenant will feel uncomfortable driving to me. Also we pick a town that felt like a small paradise, very family oriented, everyone seems to be married, old and young! everyone says hi, the lawns are always freshly cut, it’s clean great school district, etc... For me that was and still is the life I was looking for, stability. A place where I have time to focus on raising my kids. If I had to look for a house every other year, never wanting to do anything too permanent cause the landlord might raise the rent or ask for the house back!

I think it depends on you and your goals. what amount do you want? Now go to the area that will give you that amount. Multi units will give you more cash then single family home. C class neighborhood will give you more cash flow on your money then A class. But may come with a bit more headache.

The trick to this question is more money can make you less free. When we are broke struggling to get to the top (where ever that is) we sometime don’t even notice that we are already where we had wanted to be. The goal seems to keep moving and now you have to protect what you gain. How best to protect it, make more money. That does not sound like freedom to me. For me, financial freedom is reached when you find the balance of between making money and living your life, enjoying those you care about. Let the level of financial freedom be define as how much time it you can buy. What i mean by this is when you work you sell your time to someone else for money. It can be as simple as being able to buy your time to spend a day at the park or day on a beach in South East Asia.  The more financially free you are the more you can buy your time back and choose what you do with it. Now what you do with it is where the balance comes. If you want to always buy expensive things then you may not be financially  free to long, those things will own you! You will be a slave to that lifestyle. So because i do get to spend time with my family i would say yes i am financial free. Remember to stay financially free look within your self and remember what’s important to you. Often there are people around us, on tv, social media that try to make you feel that their financial freedom is the only freedom, or they try to down your choices. Just remember who you are and what you really wanted.

Years ago I had the same question. The first thing you have to examine is yourself. then the deals you getting into. Do you have the discipline to pursue real estate with full force until your income out ways the penalty or size of the debt. For me I choose to invest now it is my investment that pays back my loan. It was a big risk but you have to be ready to do all you can.