All Forum Posts by: Account Closed

Fresh paint and landscape does not cost too much. If I am the landlord, I would 100% have the fresh paint and landscape done, and bring the rental price to market price instead of reducing $150 per month. Reducing $150 each month means $1800 per year. 3 years is of reduced rent income is $1800 x 3 = $5400 loss of income. I don’t think fresh paint and landscape to cost more than $5400, but it depends on your city. I don’t like 1 year lease, and prefer month-to-month lease because I can kick out bad apples tenants anytime.

From my understanding, people who are hired and got paid by the owner need a property management license to manage a property. Unless you manage the property for free for your family/relatives/friends. Or unless you are the owners themselves to manage the property, then it will be ok to not having a license.

Agreed to have multiple contractors back up. From the landlord side, cannot have soft heart. Once a Tenant is late on rent for 3 times or more, send them 30 days move-out notice immediately, don’t keep them for whatever reason. They may become trouble sooner or later. Don’t sign long lease. Sign short term lease, so you are ready to kick out the bad apples tenants anytime by give them a 30-days move out notice.

Owner occupied are the one who is willing to pay a higher price. To get top dollars, like the other said, empty all rentals, sell it all separately instead of sell all 5 as a bundle to an investor.

Buying more rentals, then refinance, then buy more rentals, then refinance, Repeat...

Paying $30k to Guru is a waste of money. Two weeks ago, I saw an guru ad accidentally online. For curious, I went to the guru very first free seminar. The way they talked sounds very easy and attractive, many “no-experience” beginners bought their packet for the “next” 3-days class training. However, from the table of contents, I knew the packet doesn’t really help or teach the beginners how to flip home. It is a waste of money. Of course I didn’t buy the guru packet and left quietly. If you are willing to waste $30k on the guru packet, it is better to use it to buy the first deal. The best way to learn it is to experience it yourself. You will learn the process as you purchase more and more properties. If the first deal is a good deal, that’s perfect. If the first deal is a bad deal, it is the same as flush it to the $30k guru toilet already. During the first deal, whenever you encounter any question, try to seek answer from BP. BP offer much bigger help than guru.

I would prefer a third option, use the cash flow to buy additional rental property. However, If only two options (buy nice things or pay off mortgages early) are available, I would choose to pay off highest interest mortgage early.

... Like the thread, but it's not complete without @Diane G. commentary. ... @Victor S I’m guessing you have bought a big bag of pop-corn already, and waiting for the show... Lol

A relation is a set of the pair of coordinates. A relation can be described using a graph from the statistics data. I rely on the statistics data heavily to understand the market trend and make actions.

After the crypto currency crash this year and while many people scare of it today, recently I just bought some crypto currency for fun (prepare to lose it all or make very good money in a few years)