All Forum Posts by: Chris Eaker

@Robert Wright

I used a combination of Craigslist, Zillow Rental Manager (which syndicates to Zillow, Trulia, Hotpads and more), and Cozy (which syndicates to Realtor.com and others). I have had good luck with all of these without having to use a sign, thought I'm not opposed to putting one up.

@Kevin Janssen

First, read your state's landlord tenant laws. It is very important information. Since this person is month to month, you can probably raise their rent with just a month's notice. But since you will be going out of town, you should probably wait until after you get back to do it in case they decide to move out. I would just tell this guy that you're taking over the yard work and maintenance, and so his rent will be going up. You don't have to tell him anything else. But that said, since you will be his neighbor, you want to be on good terms with him and treat him respectfully. 

@Juan Ayala

Good landlord policies will include coverage for loss of rent, but only in the event of a property loss, not an eviction. I am not aware of insurance that covers legal costs. Set aside money each month for vacancy so when it comes up, you have money to cover your expenses.

Sell these two properties and give the proceeds to the charity of your choice. It's clear that you're not in this as a business. 

@Ryan Morrissey I would caution you about leveraging your personal residence to 100%. That is really risky. I heard recently on Rod Khleif's podcast that banks typically call HELOCs due first if there is any tightening in the lending market. If you believe you can actually buy a play, rehab it, and then refi pretty quickly and are sure of your numbers, then it could work, but I would be careful with doing that.

@Michael Enriquez Congratulations for getting in the game! It's exciting. That looks like a very nice building. I hope this one is just the first of many for you. Way to go!

@Ryan Nitzsche

That's a great strategy. Landlords who are trying to fill a vacancy have a much better chance of being motivated to just sell it. People who have a bunch of properties probably wouldn't because it's just part of the game, but people who just have 1 or 2 might be. Give it a shot.

Hi @Cory Anderson,

I have used Mike Baisley at Hodges Doughty & Carson to form my LLC. Tell him I referred you.

@Christopher B., are you actively seeking out properties where you have to jack up the house now? :)

@Rachel Pivonka Is it just me or does that lady in the video not look like she just lost everything? She looks like she's trying to look sad and cry, but isn't doing a very good job of it. Smells fishy.