All Forum Posts by: Cassidy Burns

Welcome @Matt Hwang.  Many great investors on this site! 

Happy Investing. 

Hi BP,

I thought this would be a great thread to get started to share how landlords are handling these situations . 

My apartment complex had a shooting this evening and now the police department is handling the guilty patrons.  My job as a landlord is to keep my tenants safe and keep them LIVING AT THE APARTMENT. I have had 2 tenants reach out, extremely worried and one "wanting to move out with all deposit returned."  

I am curious how you guys would handle this?

Happy Investing! 

Hey @Greg Moran , I sent you an email with the company I use and refer to a lot of my clients! 

Best,

You're very welcome @Michele Z. .  Good luck! 

Cheers.

You're the man @Russell Brazil ! 

Hi Again @Michele Z. ! 

This unit has worked out great.  I lived in the property for 3 years until I purchased another 1 bed/ 1 bath unit in Washington DC.  But it stayed 100% occupied while I was living there.  2 of the roommate that I left are actually still there.

-2 from Facebook Marketplace

-1 from Zillow 

Yes they definitely knew that I owned the property.  They paid rent through cozy.co monthly and then would venmo me for their share of the utilities which I would put into my account since they utilities were in my name.  

Having a child may be a little harder with other living inside the same unit (but completely up to you and your family situation).  Maybe buying a duplex / triplex could be the best strategy for you so you will have your own unit and rent the other 2 units out.  You could maybe try AirBnB on 1 of them as well to try to drive a higher return while the bylaws still allow it.

I suggest house hacking to most beginner RE investors as its a great way to :

-Decrease Expenses

-Purchase an asset with low money down (3-5% down)

-Gain landlording experience

-Stop paying rent and start building equity.

Good luck! 

Thank you @Mindy Jensen ! I should have been a little more clear on my initial post.  

Hey @Michele Z. to my knowledge, they are planning on keeping the VA loan on this property. BUT, that doesn't mean they won't reassess down the road ! Time will tell.

Thanks everyone for the feedback and following along! 

Hi @Marian Huish thanks for the info. But yes, this is actually the 2nd or 3rd transaction I have done where the buyer has relocated (most of the time its due to active duty military) and use the VA loan again.

Hi @Marian Huish , correct, they must live in the property for at least 1 year (which my clients intend to do 1-3), and its based on the VA Loan amount. This is their 2nd property through the VA Loan program.

@Adam Bankoff I like the area for this strategy.  The rent is the average in that area actually! I get a lot of my info from Rentometer.com , facebook marketplace, and craigslist .

Definitely worth looking into