All Forum Posts by: Brian Mcmenamin

Hi Jonas,

I am in no way a lawyer, nor have I ever been in your situation which sounds terrible. The way you received the protective order was a great move. You may want to consider doing that again. I'd also recommend finding him a place to live at a price that he can afford. If you were able to provide him some options and tell him that you will pay for him to leave he may start packing. 

In a normal eviction, you go to the court get a judgement for eviction in Virginia due to loss of rent. Within 30 days, the sheriff will show up and remove the person from the premises. You might want to present him with a 30 day notice to vacate or a notice to vacate. I hope this helps. best of luck to you

I got into notes about 3 years ago. All my performers are tied to my Self-Directed IRA so I'm sitting on them until I'm 65 if need be-haha. I think all of your scenarios could potentially happen. Recently, I have had my borrowers starting to pay down their principal which works well for me too since that will be cash I can leverage to purchase other performing notes.

I'm not sure if that helps your question at all, but I think

@Martin Saenz or @Masaki Maeda might be able to help you with more details on their experiences.

@Angel Dross I invest in small multi family in Norfolk, VA. Its been pretty good. Prices have gone up, but there are some deals still out there. Shoot me a message if you want to talk more specifics or can give me a little more information on what you are looking for.

@Lee Jea youll get a better interest rate from the bank when you refinance in your personal name. i'd recommend using your personal until you reach 10 properties. you accept a little more risk keeping it in your name, but even if you are sole proprietor of LLC there is still risk. Best of luck

@Alande Pierre welcome to BP!! Wishing you much success in your REI journey

@Devin Gilliam You can try checking the tax records for the county. They should list all the surrounded units sometimes counties will post lot description or parcel ids which are more accurate than just an address

@Brandon Becsi I'd offer her $700 a month with a ballon payment of $100K minus monthly payments in 2 years. If she wants upfront cash negotiate that amount so you wouldn't be doing a straight cash purchase for $100K. youll still cash flow $500 a month once you have it rented, and you won't need to deal with a bank. like @Joe Villeneuve you need to figure out what she wants. maybe she doesn't want $100K upfront. Best of Luck. 

@Trent Strang I use excel but I guess I'm old school. Buildium is a pretty good platform. you can see all expenses and income.

@Pat Jackson I have had great success reaching out to listing agents. They have let me know of properties that are going to be coming to market and if i'd like to get a pre-market offer in. I haven't had great success with wholesalers. Best of Luck

@Michael Dooley Screen your tenants well. If you pick the right tenants, you will not have any issues. If you don't, expect to be getting lots of late night knocks on the door to come fix things. Make sure your duplex is separately metered. Best of Luck