All Forum Posts by: Deborah Burian

Brandon Turner - read your ebook - loved it. Have achieved our SFH goal and am looking at multis to increase cash flow. Bigger Pockets has been a godsend both in terms of raw information and for inspiration.

ditto P NW, if I have to do a pay or quit more than once, you're gone... Another lesson learned.

We have a late fee(5%) and we're pretty strict about that. Occasionally allow a late payment with late fee if notified in advance. If you're late and you haven't communicated or responded to my phone call, the pay or quit goes by certified mail. Our state doesn't allow just posting on the door unless you're the sheriff or a process server. I have no interest in confrontation anyway so certified it is. Five days later I'm at the courthouse.

That said, we have a fair amount of trouble with the mail so I go by postmark. If the post office took a week and it should have been a day - more lenient.

As with others, we have been more lenient than intended at times... was looking at my rents just today and realize we have allowed a problem to become a habit with a few long term tenants. They pay the late fee but I don't even expect their rents on time.

Qualified service dogs will have a certificate.

anyone in Oklahoma doing Sect 8? Would love to hear if it's a good program locally.

Nothing. I take good care of the properties and the tenants and I sleep well at night.

I was a nursing home and hospice administrator for 25 years... that'll keep you awake at night.

Robert Steele - you make a valid point. We may be a bit more laid back because 1) we don't take application fees and 2) we tell everyone exactly what's going to happen. We're gonna look at applications, and before we process yours we WILL call you within 24 hours. So in essence, unless I call them, they know they didn't make the cut. However... it is a service business and it wouldn't actually kill me to make a half-dozen phone calls.

Serge S. That's interesting and I'm sure a disappointment for you. I'm looking at a grouping of properties with about a 6K annual water bill. Willing to spend some cash to make that go away...

Shema Turner, do you have a more finite plan than stated above? For instance, where's the cash coming from, target neighborhood for first property, are you going to owner occupy? Plans for financing?

For instance. When my husband and I started 10 years ago, we decided to buy 2 homes a year for 10 years. (buy and hold) Figured out our geographic area, figured out where the cash down for the first three was coming from, met with a banker, attorney, and CPA, created an LLC and THEN purchased our first property. That list of stuff before we bought, took six months.

Fast forward 10 years. I am short one property (more on that later) but otherwise we worked the plan hard and it worked for us. And I do mean hard. Two full time professional positions got us the first down payments but it also meant that for one memorable year (year 3) we took exactly 3 full days off. Thanksgiving, Christmas, and one day we just couldn't do it. Not exaggerating. Went to work, went to a property, rinse-repeat. Weekends, go to property. Kid home from college, give her and the friends power tools. You want to spend time with me... it's a house.

Still own those houses. This small business didn't fail. I now work full time for myself, husband still keeps the day job. In a year or two, we're both fully employed by our company.

Life is good.

Roy N. - that's what I'm going to do. Walked through yesterday and they had uninstalled the gas stove to put their own in, put mine back but didn't hook it up. Grrr

Sean Brennan - my husband successfully worked on 100% commission for 10 years. Hats off to you, it's a real challenge. We have usually shown after exit to have time to freshen up and show the home well. As my OP said, trying a new approach.