All Forum Posts by: Bryan Devitt

@Amy W. If you got rid of her, could you safely bump the rent to cover the lost income from late fees? If she continually pays then just make sure she's at market rent, the late fee is worth the time and effort and renew

@Jennifer Rysdam your questions are MN specific. There is probably a MN forum to ask in or find a local lawyer, the hour of their pay is worth the definite answers and they might give you more info in that hour that will be invaluable in the future. As for what you should do, the absolute minimum required by law. If its 2 days and 10 days then that is what you do but not a day more

@Joshua D. Do you think that worst case scenario your properties will lose 60% ot their values on average? Do you have enough in reserves to cover a year of expenses on half of your properties at the same time? Your leverage isn't an issue at all, if you have reserves then you're good there too. $800k in debt isn't crap when you can sell them worst case for $1M+. If you're that worried I'll buy your portfolio for what you owe tomorrow so you can sleep better at night. ;-)

@Charlie Moore " in a few weeks"?? If your budget is so tight that a couple hundred dollars puts you in the red, you screwed up. Stop making the neighborhood look like trash and haul your crap out of there. Go on Facebook and find a town page, find someone local to pick it up. It's cheaper than you think and you won't have neighbors that see someone trashing your building and saying "good, he deserves it"

@Christopher Liffner you followed the horrible advice of "just buy one, it doesn't matter how you get it, you just need to start" . At this point, you're going to lose money. You lost money on the buy and you lost money on the rehab. There is no way to redeem this. Any good inspector will see everything. They probably gave you a break thinking it was just siding and now they'll see everything and there is no cheap or easy way out. Sorry but you screwed the pooch with OPM and now everyone will suffer the consequences. Welcome to the business. Try to make the renovation right and not cut corners and you'll get out with your integrity. The money is already gone (some of it at least) don't lose your integrity for a few more grand too, that is worth the most out of all of this

 IMO all currency is crap and can be manipulated at the drop of a hat, so I stay away from it unless it is indirectly (stocks, housing, etc) and even those do better when they're manipulated by the government 

@Dennis M. For now, Facebook has already said to their investors that they plan to monetize their market place

@John Barrett it's cheap because it is always cheap at first. Give it a year or two and they'll push it to $50/wk minimum

@Helen De la rosa the fed is going to print money at a rate that will make QE1,2 and 3 look like they were just getting some snacks for a party. This will be a 7 course tasting menu with wine pairing. Add to that they're going to have to go to negative interest rates and all of that still won't keep us from the pain that is coming and I wouldn't keep a penny in dollars if it isn't required. On the bright side stocks won't take as much of a hit as they should because the dollar will lose so much value

You can read on here and learn more than most wholesalers know. Check the resources tab at the top too, im sure there is a book on wholesaling too