Purchase price: $78,736 Sale price: $115,000 Bought a house in Kenmare, ND that was freshly remodeled.

The very first day that a tenant is late, a Notice of Default needs to be delivered to the tenant (you need a receipt of delivery; if you hand deliver it, place it in a sealed envelope with their name on it marked 'urgent/confidential' and take a photo of it placed on their door). 

And at the top, you need three key people: an artist (to deliver a great product), a manager (to keep things running smoothly), and an entrepreneur (to drive it forward).

Then my second house which was freshly turned had a tenant that up and left after a couple of months and caused excessive damage. 

I just got done making a YT video on the subject, so it's fresh on my mind.

Blocks delivered.  

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The last post on this topic I see is from about seven years ago... so figured I would start fresh. 

I did confirm that in North Carolina, per the Statute of Frauds, any agreement lasting a year or more must be express, in writing and delivered to both parties, along with consideration (which I remitted via wire). 

I've tried getting in touch with him today but he blocked my phone number (my texts don't deliver and my call goes right to voicemail.