All Forum Posts by: William Reid

I have been through this.  When you make the offer, you can request that the house be delivered with a unit vacant.  Alternatively, you can get the house and offer cash for keys for the tenant to move.  I went the cash for keys route and the tenant moved out and I moved in.  No issues.

I started looking in April 2016 and closed on a 3-unit in July 2016.  I made offers on at least 10 properties before I finally got one that was accepted.  It is not the best deal in the world but I am living for free while owner occupying after paying $1200/month in rent.  So I'm using that savings to get my next multi-unit house this year.

I've had good experiences with Fiverr.  Great for cheap startup designs.  You can always re-brand later.  

Just take cash or money order for the first month then migrate them over to the new payment system.

Quite a bit of harsh rhetoric here with regards to evictions.  The fact of the matter is not paying rent is not a crime.  Nobody is being extorted.  An eviction on record is not a felony nor a misdemeanor offense, it is a civil matter.  If you evict and they stay after having been evicted then that is trespassing, breaking and entering, and a bunch of whatever else you want to throw at them.  But an eviction alone is not a criminal matter. 

Cash for keys is the quickest and easiest solution to your issue.  I have used it myself.  I too inherited a tenant in a multi-family that I was going to owner occupy.  I gave them 2 weeks to have all of their stuff out and I will give them their security deposit back with no questions asked.  2 weeks later we met at the unit and walked through it, all of their stuff was gone, I handed them the check and changed the locks.  Quick and easy.  Whatever the cost you end up paying in cash for keys, it is less than the money spent and time lost in going through an eviction process.  Good luck.

I live and own in the 19139 zip code.  Overwhelming majority of houses out there need significant rehab.  I live right by 52nd and Market.  I wouldn't necessarily classify the neighborhood as "up and coming" just yet.  That's still a long ways off in my opinion.

I invest in a lower income area.  Here are some tips:

Take care of repairs immediately.  

Remove garbage disposals and ceiling fans. They will get broken.

I initially didn't allow pets but now I allow cats.  Low income inner city neighborhood is going to always have pest issues.  The cat solves those problems so I don't have to.

Use vinyl floors for maximum durability at low cost.  Been doing me very well so far.

Let them live their life.  If they are paying the rent and your usual inspections are good, then leave them be.  Nobody wants their landlord around.

I've used the cash for keys method.  I offered a tenant their full security deposit back no questions asked if they were moved out in 2 weeks.  2 weeks came and I went by the unit with the check, the unit was empty and I handed over the check to the now former tenant.  Quick, easy and painless.  

I use Rentec Direct.  Very easy to use.

Here is a method I like to use.  Low cost and easy to DIY. 

Put cayenne pepper, black pepper, and all the hot spices you can find and mix them all in a jar.  Then line your entire yard with the pepper mix.  You will have to do it after each time it rains.  I have done this at every place I have lived with a yard.  Dogs like to keep their nose to the ground and once they get a whiff of that spicy mix, they won't ever come near that yard again.  Works like a charm.