All Forum Posts by: Brian Boyd

Have you considered new light fixtures, pulls and door handles, Edison Light Bulbs or other types of bulbs? These a minor and not very expensive but give the property a fresh look. We use Luxury Vinyl Laminate flooring throughout our properties that look like wood flooring. The whole aesthetic of the property changes with a few minor alterations. Also, consider the cheaper stainless steel appliances.

Your lease should govern the terms of your agreement for your property.

I think looking at the rental market from a pragmatic standpoint is essential to find a solution to what is really not fault based on the tenants who cannot make their rent. I say that with full knowledge that at some point everyone must proceed with evictions. First and foremost, I must make sure that my family is taken care of. For me this means that our financial security comes first. If tenants place a burden on me that will place my family's financial well being in jeopardy, I will be watching the Sheriff physically remove tenants from my properties. 

Second, I want to be as compassionate as possible but not naive. This is a business and investment (a big investment) and I will treat these properties as such. If a tenant cannot make their rent, I want a payment plan in place and I will demand forfeiture of their deposits. 

Effectively, the lack of financial planning on their part is becoming my problem. When it becomes my problem then the rules will change. I don't run a charity. I run a business that has to meet it obligations. 

If the tenant cannot meet the contractual obligations of the lease agreement, I will find someone who can. Sadly, I only have the tolerance level for a one month delay and then I will begin eviction proceedings. 

To the point of COVID-19: I am following the CDC's updates (https://www.cdc.gov/coronaviru...) and ignoring the media. While I work in the law, my wife works in the medical field. We are monitoring the issue but not being paranoid about it. Moreover, we washing our hands, staying away from the mall and other large congregations of people but not isolating ourselves.

I wish you all the best of luck!

I believe it will be well past us by then. I think now is a good buying opportunity. 

@Steve Oak my experience has been that sellers prefer more earnest money over down payments since the sellers don’t actually get that money if the deal goes bad.

@Mason Jeffries yes and add $25 per month for it.

Buildium: https://www.buildium.com/

There are a couple of ways: 1) property records will have names that you can google and you may get lucky; and 2) if the property is owned through an LLC the Secretary of State's office will have annual reports that will have a registered agent that you can contact.

Use your equity in your current home to BRRRR the investment property. Using your personal residence as a bank is a way to hack the market without having to get a loan or use investors.

Good Luck!

So this is a great area to plumb but be careful. There are investors that come to the auctions and run the prices up to kill the profit and they will sit on it. As a wholesaler, it could be frustrating. Good Luck!