I do an AI for REI seminar and just discovered a new tool I'll likely test out soon. 

Dont chase yield and don’t try brrs until have owned a few with tested contacts for labor. 

Everyone knows who the new person is and the goal is always to mess with them and test them and try to get them to spend their money on the junk so we can get the good ones. 

EX: I ran a few real estate ads targeting real estate agents on FB. as a test since I never did an ads before.

I use Wisconsin Legal Blank forms, they are inexpensive and court-tested.

If you are going to test the market with a new standard, be patient.  

You can get these under your belt for $6-10k, and we're talking about reading 4-10 books, being tested, interacting, and meeting new people.

In the case of GEG, we let our members know we did not have a track record with them - they were new to us and just being tested - and therefore it was even more important to perform thorough due diligence since we can't be involved in the transaction. 

If you can attend local investor meetups, that’s a great way to gain market insight and connect with reliable people.It’s also smart to start small with a couple of flips to test the waters, and make sure you understand the local market dynamics before scaling up.Good luck with your expansion! 

I guess we will find out when the implementation of the new law occurs and then is tested in court.Nevertheless, written documentation will be your friend.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.