All Forum Posts by: Andrew Syrios

Welcome to BiggerPockets Jason and good luck investing!

Depends on the state so you should check your local laws. But typically (again check your laws), you give them a 72 hour pay or quit notice. If they don't pay by then, you can file for eviction. Usually this will be going through an attorney. Some states allow private companies to file and in many you can file yourself unless it's an LLC (as you can't represent a corporate entity unless you're an attorney).

Then you just wait until the trial date. Afterwards, you'll get a writ of restitution and a week or so later the sheriff will come out and take possession of the unit. Depending on the state, you may have to store their stuff for a while.

In the meantime, if you can do a cash for keys (i.e. pay them a little so they'll leave early) it would be wise to do that as the eviction process is usually long and costly. 

Welcome to BiggerPockets Murry and good luck investing!

BRRRR has been a great option but it's very difficult in today's market with prices high and interest rates high (at least compared to what they have been in the last decade). Even if you get a good deal, you will still probably have to leave cash into the deal on any buy and hold these days.

Welcome to BiggerPockets Ella and best of luck investing!

Best bet is to save up for a house hack. With an FHA loan, you only need 3.5% down. And you can use such a loan to buy up to a fourplex. Yes, you have to live there for at least a year but you need to live somewhere anyways. And after a year, you can refinance and buy a new property with another FHA loan.

This is by far the best way to get into real estate with limited funds. (In all honesty, the idea that you can become a real estate investor with no money is mostly fake. On individual deals, sure, but on the whole, no. It's a marketing ploy by gurus trying to sell you coaching.)

Welcome Sam and good luck investing!

No this is not unusual. In one instance, we just sold the property instead of doing the work. That being said, if you have a bank loan on the property though, you will need to keep them apprised and may have other conditions. I suspect they would want the roof be replaced. Our insurer pays us directly but I've heard of them escrowing the money with the bank. I will note we've had insurance payouts that end up being more than the cost of the repairs when all is said and done, so that is not unusual. 

Welcome aboard Yvette!

Welcome to BiggerPockets David and good luck wholesaling!