All Forum Posts by: Stephen Kehoe

Without leverage you won't beat the stock market average of 7%. And you don't need to evict stocks. I challenge you to reframe your thinking on leverage as it can boost your returns. 

I like Charlotte and Columbus for appreciation.  Before the pandemic lots of people would of told you to buy condos in San Francisco. So that tells you nobody knows anything for sure about appreciation.

Wow, not knowing they weren't paying rent for 5 months is crazy. 

In maryland you don't have to be an agent or have a license to be a PM so going to the real estate commission may not help.

Let me know if you want me to drop by their office unannounced! That sounds like fun to me.

Can you pass on the water bill? 

Section 8 tenants in Brooklyn will have a lot of choices. This will get you passed up by some.

If you were to provide only one I would provide the washer. 

Here is a search engine of support programs - https://www.auntbertha.com/

The main baltimore city rental assistance program is closed right now.

Good going getting over the 2% rule with rents that high. With everyone looking for BRRRR deals I believe these investments get wrongly over looked.

Cash for keys. 

let them know the cares act does not forgive rent and just delays it. 

Let then know you will be handing over delinquent rent to a collection agency which will destroy their credit.

I would stick to a m2m lease for the following reasons.

1. You didn't screen the tenants, even though they sound great.

2. Tenants with money to burn can afford to move and lose the security deposit whenever. So a year long lease may not keep them there anyway.

3. If they don't pay you can evict them as 'hold overs' instead of the currently banned 'failure to pay rent'.

4. 10 months from now would be a better time have a vacancy than 12 months. There will be less tenants searching and the pipes are more likely to freeze in 12 months.

Congratulations on the new rental. My m2m leases say " lease premise at (address) starting at noon on _____ on a month to month basis". You may be overthinking it but that's better than the opposite when it comes to the legal stuff.

Good job Tyrone. It sounds like you did the important stuff on the renovation.