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15 January 2025 | 15 replies
You hired them to evict the tenant, so they should continue representing you until the tenant is out.
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30 January 2025 | 5 replies
Our tenant accidentally broke a kitchen cupboard door.
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30 January 2025 | 4 replies
I rarely have luck getting tenants in Dec/Jan.
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11 February 2025 | 5 replies
Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?
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13 February 2025 | 35 replies
@Ben CallahanRecommend 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?
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2 February 2025 | 0 replies
I also had to evict one of my tenants that I inherited after owning the property for only 7 of owning the property.
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10 February 2025 | 8 replies
Your thesis is basically rent low and accept less desirable tenants so I don't think that is the best thesis to base an investment off.
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24 February 2025 | 36 replies
Have you ever heard of a Landlord being sued by a Tenant and losing property?
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24 February 2025 | 20 replies
You will need 6 months worth of the payment (including taxes, insurance, HOA) in liquid assets to show an underwriter.Now with doing a rental agreement, do I need to have tenants living in the home first or new prospects lined up before the underwriting?
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30 January 2025 | 4 replies
That's just life.We had a situation where one tenant had been living at our property for years with several other tenants below them over that time period.