All Forum Posts by: Susanne Owens

I have gotten requests twice today from Dave Myer @datadeli with one letter off wanting me to invest in crypto. But when you look at it it has Dave and his real link @datadeli. But it says Detadeli has requested to follow you and starts engaging as soon as you accept. Please be careful!!!

@Russ 

@Russ B.thanks for the perspective. It helps! Never thought about it that way from that limelight. This is my and my husband’s investment and I don’t want the headache and hassle of bad tenants. If I wouldn’t hire them to work for me kind of standards then I sure won’t let you rent!! But can you imagine someone willing to pay 12k upfront Instead of showing proof of income!! 😲🙄 Whether they could actually produce the money would be a different story I bet!!!

@CandicePfab yes I use Avail.co and it  is a great resource for landlords/property managers.  It handles collecting rent, storing our lease, maintenance requests, and they must pay $55 for the full application which requires them to upload proof of income and legal government ID, rental history with references, credit report and eviction report. It also lists all our properties for us on Zillow, apartments.com, realtor.com etc I am very strict with the application process and do not even arrange to show them the property unless they qualify, and in fact we have 2 tenants at other properties at Cottages on the Greene in 2 year leases. I have had nothing but excellent tenants, thanks to all the information and advise given by the BP podcasts. 

@Bjorn Ahlblad yes your tenants are moving to Foley, Al. They want the gulf coast! 😂😂 Get ready you re-list your rental.

One applicant,

Does everyone receive the ridiculous, "can I rent your place?" applications that I do? They send me an email stating, "oh my credit ruined after a recent divorce and i have 2 small kids and want to rent in a safe neighborhood". She doesn't meet the 3X rent to income rule and When I download her credit application she has defaulted on EVERY account she has for the last 3 years!!! NEVER made any payments on anything....What the heck? thats not a divorce ruining your credit with some late payments that YOU never being responsible for any of your payments!!!

Next applicant,

I dont have a job yet but "I starts at the CVS on Oct 28th. The last place I live now I paid in cash up front for the whole 6 month lease that is up in February, but I can end it early. I have a 'friends daughter' that stays with me often, is it okay to have overnight company often?" What the what? 

My thought is #1 drug dealer??? cash up front for a whole lease "to prove I can pay" or #2 suspicious activity of prostitution or human trafficking for the friends daughter overnight frequently.

Just needing to vent, I just listened to Craig Curelop, #thefiguy on the regular BP podcast and on the BP Money podcast and currently watching Breaking Bad series, so maybe I am a little untrusting with my world view right now, but I would have never had the nerve to fill out or ask for such forbearances??? Anybody else have similar experiences? I want to turn this into a laughable experience but they are wasting mine and their time. 

@Matthew Otto www.checkbookIRA.com but there are lots of companies that can do it for you. This is the one we used. We did a 401k because I have a LLC and make side money so therefore I can contribute more in a 401k vs a IRA.

@Matthew Otto my husband and I both had old 401ks. We combined them after we left our jobs, and we rolled it into a checkbook401k where we buy properties with it. So that’s like the free money you receive from your now employer is helping you buy real estate in the future. If you roll your 401k to this type of 401k you pay no penalties and no fees for early withdrawal. You could invest in other things too but we did real estate. So when the tenants pay $600 over the cost of the mortgage, tax and insurances etc then they are putting $600 for me into our checkbook 401k for our retirement or eventually buy another property. They are also paying off our investment property. So the point is just get started and get the free money and you can do lots of things with it later. I heard that when a 20 yr old invests $1. It brings 88 friends to retirement. When a 30 year old invests $1 it only brings 23 friends to retirement. The point is start ASAP.

@Frankie Betancourt I know I have an online business where people pay for a conference and pay by credit card that I have used my own credit card to enroll for the conference. But it charges like a 3% fee to run the card. I wouldn't want to set up a website and online store front and payment processing service just to pay myself with a credit card. Then you have the interest of the credit card. Can you save cash or HELOC a home or hard money lending? Can you take the deal to an investor and split the deal with them?

Also can you fix why the bank won’t give you a loan? If you max a credit card out they are less inclined to let you borrow and you don’t want to cut yourself short.

@Erik Whiting thanks for your detailed response! I have no personal goals or aspirations of building a Fortune 500 company like my friend Sheila. We are still close friends with all of her inner circle, and her husband Is our best friend. We actually have become the best of friends because of our shared loss of such a dynamic person.

@Alexander Ritchie We are considering if we are long distance or out of state to find backup contact people if something needs to be handled to possible fulltime management at some point.