All Forum Posts by: Ed L.

First clue is the name Trillionaire Realty Assets.   That's bound to be the cheesiest atrempt of image crafting I've ever heard   It just sounds like a name some d bag would craft to convince gullible simpletons of how important and awesome they must be.  

not sure what the con is but I'd be very Leary about parting with my earnest money   

your logic is sound.  Waiting on price appreciation or rent increases is purely speculative.   

Things could just as easily go the opposite direction and erase your equity and put you in a serious predicament.  

I'd bail in a heartbeat.   Owning rental property on a 30 yr mortgage that is cashflow negative sucks.  

The re market is kinda frothy and short on supply at the moment so maybe you will luck up and recover your equity.  Best of luck!

Looks like a fair deal where the landlord is carrying more than the fair share of expenses to justify above market rent.  

I would probably drop the rent a little and let the tenant pay their own utilities.  Should be a wash but at least it limits your exposure to a abusive tenant.

I am miring your pie chart!

I'm sure there has to be someone else on here thinking "First World landlord problems"   

If rent is in before the due date then all is good.  Honestly as long as they are staying current I'm perfectly happy collecting fees.  I believe my lease state's 10% after the 5th & then escalates after the 10th.   Pay on the 6th every month, fine by me.  

You've learned the hard way not to ever give a tenant your home address.  Business address only, rent considered late if not received by 5:00 pm.

Many people myself included just procrastinate their lives away.  Frantically rushing to meet deadlines that shouldn't be a issue. 

I personally wouldn't risk Pi$$ing off a tenant trying to run them off.  Chances are they will move out eventually under normal circumstances and probably be less likely to trash the place.

Best of luck with the situation!

Domestic disputes are hard on walls, doors, and windows.  Never seen a angry drunk redneck punch a hole in the floor.  First time for everything but I'd guess there's some serious rot going on due to a leak that has damaged the floor.  

Every opportunity is worth exploring.  Best of luck. 

sounds like a great deal, I'd let it season for a year and get a jump on the refi.  

What type of owner finance did you do?   We usually do a contract for deed with a promissory note.   

I'd spend a year getting to know the ins and outs of your local real estate market.   If the prices are too inflated in your market consider venturing out 1-2 hrs to smaller markets.  

I would probably do a few all cash flips.  Best case your grow your nest egg considerably.   Absolute worst case you lose alittle and learn a whole lot about rehabbing, marketing, and your local re market.  

At this point you are pretty educated and ready to start buying distressed properties to rehab and rent.  

Pay cash, rehab, rent, refinance, and eventually retire.  

It's a fun game that's full of reward and risk like everything in life.  Best of luck!

1)   Buy cheap and replace all the major mechanicals during reno.

2)  Get a survey-  Nothing like finishing a remodel to find out the master is on the neighbors lot.

3)  Have a clean and straightforward lease that address's problems before they arise..  

Probably the most important aspect of all is gauging demand. I'd recommend talking to property managers/owners and asking how long their typical vacancies are for different class of properties. Multi, SFR, commercial, duplex, complex, class A, B, C. They all have different prospective tenants, and demand.

A leveraged vacant property is a one way ticket to the poor house.  Do your due diligence!

I would look into getting a business Line of Credit and using your free and clear properties as collateral..

Depending on the lender they may or may not require a appraisal, but your interest rates will be dramatically lower in todays low rate environment.  

Something to look into at least.

I've found it's best not to over sell a product, and definitely don't appear desperate. FSBO's on craigslist always crack me up with their 500 word property descriptions.. It's not necessary..

Just us proper grammerz, state the high points, and you will be fine.