All Forum Posts by: Brendon Pishny

@Spencer Sakai

If the company is a single member LLC or a sole proprietor then I would use the company. It shouldn't matter. If you go to court just go as the owner of the company. I don't see why it would have to be the owner of the property. Either way you can just state that you're the property manager.

@Nick Brimmerq

I don’t have any units where I pay the utilities. But it seems to me in a college town where there might be multiple tenants that are not related living in the same house this makes sense. Just charge enough rent to cover it. Especially if that’s the norm in that area. Hope that helps.

@Larry Williams

Your best bet is to contact an attorney. I know you stayed the cost but letting this go on long term is costing you more. Learn the rules and start and eviction immediately. If it’s a just cause due to Covid there is tons of money out there for assistance. If your end goal is to live in the property yourself then you need to end the lease or file the eviction no matter how long it takes. Hope that helps.

@Melissa T.

I use Buildium. It has saved me a lot of headhache. My tenants love it too.

@Brett Matye

You could ask the owner for seller financing. I did this once. Only put down 10%. I pay the seller a 6% note on a 30 year amortization. Since it’s a duplex it still cash flows. You never know until you ask. Then you can always refinance later.

Or you could ask the seller to owner finance the down payment portion. If they say ok just run the numbers to see if it still makes sense.

@Brandon Roberts

For mileage I’ve used the Track My Mileage app for years. There’s a few add ons I purchased but they were pretty cheap. It just depends on how much you want to keep track of.

@Ashly McGlasson

You could give it a try and see if the tenants stay current with you. Have them sign a new lease that’s month to month. They could be in some kind of hardship and need assistance. Find out more.

I personally feel in this situation I would have the owner file eviction and get them out before you take ownership even if it delays closing. Sounds like a bad situation.

I will say I have bought several properties with tenants, and it has worked out fairly well. But they were current and it was just a matter of working out the details with them.

@Mark Adkins I would try to find a suburb or area nearby that makes sense. Every part of the country has an area people are investing. If you live in Seattle and are thinking of investing in Florida that seems like a long way away. If you’re just starting out that feels like a good chance to fail.

Look at all aspects of rentals. Cash flow, depreciation, appreciation and loan pay down to find an area that will get you to your goal. First thing is find a local meetup. Other local investors can help you more than anybody else. Welcome and best of luck!

@Alicia Marks

If you think it’s a good deal I would move forward. There will be added cost for flood insurance. It will affect the resale value when you exit. My experience is about 20%.

@Alfredo Alfaro

I actually don’t know the answer. I would find a good agent and just start asking questions. I think you’re idea to house hack a four plex is a great idea as long as you want to live next to your tenants:)