All Forum Posts by: Danny Olivo

After you post the notice and wait the state mandated time (whether it’s 5 or 15 days) find the local magistrate. They are usually very helpful in outlining the specific local nuances and procedures for the entire eviction process. I’ve done many evictions in central PA and I’ve never needed a lawyer. However, if this is your first property and you are new to investing I could see getting professional help. Good Luck, it gets easier eventually.

Same here, I've been using Tenant Cloud for over a year now and it's great. If you have under 50 units I believe this is the best way to go. As you get more units you will out grow it and the more powerful software will give you many more advantages.

Welcome! While I've been studying Real Estate for a few years now, I'm relatively new to BP myself as well. I think you're on a great track. If you can pull off grabbing 15 doors or more, Multi Units are a great way to scale up. It allows you to get a part time manager/handyman so you can focus on growing your business. I just bought 18 units last year. It's certainly challenging, but well worth it. You're on the right track!

It sounds like you are figuring it out pretty quickly once you start thinking about it. My "standard" application looked similar to yours initially. I had to lower a fair bit of my requirements when I began investing in lower income neighborhoods. Even in my original investment area which is easily an "A minus" area I often have to bend rules depending on the tenant.

It all depends on your goals. If you have $40,000 and want a higher ROI then take your $40k and leverage up to a $150,000 - $200,000 or so property. If your goal is cash flow then this deal here isn't bad. You have your capex at $100p/m, that's a little high for a $850 p/m property. I usually set it at 5-8% max. Also, is there room to bump up the rent a bit, say $875? Those little changes would bring your cash flow up to $325 p/m or so.