Hector Serna
Offer accepted… and there’s a new dilemma
Hey guys,If any of yall have come across my previous post you’ll find that I recently had an offer accepted for a short sale in Cicero, IL. The numbers are as follows.1959 Build Single family home: 3 bed (possible 4),...
Chris Purcell
Do you raise rent on good tenants?
My theory is if a tenant pays on time and takes care of the house, leave the rent alone until they move on and then adjust it for a new tenant.Have heard so many times from friends where their landlord raises it and t...
Yazan Ayyash
What is the minimum cashflow you would accept for a rental?
Brandon recently said that $200 of cashflow after expenses (including mortgage) on a house is a homerun. I am aware that different markets produce different results, but what is the minimum amount of cashflow you woul...
Dennis Tierney
Do you disclose a haunting?
I had a friend ask last evening if she needs to disclose to prospective tenants that their half of a duplex may be haunted. Not having any experience with this I thought I'd ask BP. She bought it as a rehab and in the...
Michael Sokolski
When should I start my LLC?
I'm just starting in REI and am trying to learn as much as I can now. I was wondering at what point should a beggining Real Estate investor create their business entity. I've decided on an LLC. I don't have any pro...
Tim B.
Who is responsible for missing outside items
I have a rental property in NC that has a few storm drains in the yard. There are steel grates covering the drains for safety reasons. My tenant called the property manager today and said the grates are gone and ne...
Johann Jells
Is late night emailing now rude due to nightstand smartphones bleating?
I was just about to hit send on a group email announcing an open house when I remembered my wife commenting that people now sleep with their smartphones on the bedstand and an late email alert is like a late night cal...
Thomas S.
Landlords and Tenants Lawyers
To begin I will say that if you operate in a State that requires that Landlords always be represented by a Lawyer none of my experiences or practices may apply. In our jurisdiction Landlords are not required to have l...
Simon Ghandil
Rental #1 Purchased Today
Closed on it today, it's a 2 bed 1 bath in Portsmouth, VA. Purchased it for $30,000, after closing costs it was $31,650.15. Planning on placing a tenant buyer in there for $975 a month. Taxes and insurance will set me...
Pat Noyes
Newbie “Bob” with little time
Hello,
I’m a newbie Pro member that I would self-describe as a “Bob”, meaning I have a great job, great income and great credit (as does my husband). We also have good discretionary income and a lot of equity in our p...