All Forum Posts by: Chris Chasse

@Bret Halsey there’s also owner occupant fha loans that allow you to put as little as 3.5% down if you plan to live in it for at least a year.

@Alex Schmitt Hi Alex, I'd like to take you up on that offer, if you don't mind. I have a high interest in STR in Naples and would love to hear your perspective.

Hi BP team,

I’m new to landlording and 8 months into owning a 4 unit property with inherited tenants. They are on month to month leases and have been good at paying on time - thus far.

Im curious to hear how you guys would handle this situation.

I paid this tenant to shovel snow this past winter and this summer exchanged free storage in return of cutting the grass bi-weekly. So a good tenant In my mind overall helping around the property.

Last month he reached out stating his client changed the way hes paid and asked for an extension until the 6th which I granted and agreed to wave the late fee that one time.

This month, it is now the 3rd and hasn’t paid August rent. There is a 5 day grace period in the lease. Given that he did not communicate with me I sent an email stating that rent is due on the first and that that on the 6th a late fee is incurred and a 5 day pay or quit notice will be issued.

Have not heard from him yet ( sent the email a few hours ago) Don’t want to ruffle to many feathers as they appear to be good tenants despite these last two months.

Would you handle this differently?

Love these posts. I just bought my first 4 unit building 8 months ago. My goal is to achieve 10k a month in cash flow over the next 10 years like many of you.

would love to better understand the types of deals or better yet how you’re financing these properties to allow you to scale so quickly in 5< years.