All Forum Posts by: CJ M.

@Cody L.

No idea, but there are dumber laws out there that get reinforced...

@Amanda Rose

I've done almost a couple dozen rentals at this point and am currently trying to do my first flip (which the property probably won't sell so it'll become another rental). Here are a few things I learned.

1. Kitchens and the layout matter.

2. Stage the property whenever possible

3. Curb appeal is important.

4. Holding costs can be sizable

5. If you're selling it within 90 days of first owning it, the new seller will not be able to get FHA financing during that 90 day time period.

Hope this helps

@Roma Montifar

I would check local laws. Are 5 year leases legal?

@Marcus House

(Additional rent per year from increase) - (repairs to get it rent-ready again + holding costs + any fees re-renting + PITI, etc) = hopefully a positive number.

Make sure it doesn't cost you more to re-rent it than what you'd make from keeping it as-is. For example, if your PITI is $500 and it takes you 2 months to re-rent, you're down $1,000 already just from that alone. Then there's the whole seperate issue of the risk of getting a bad tenant.

If I had a great 2 year tenant who always paid on time, I damn sure would be 100% certain I was raising rent before even talking to the tenant. Why even talk to him if you weren't sure... now he's probably shopping around for a new place anyway.

@Joe Villeneuve

Funny, I was listening to Tax Free Wealth by Tom Wheelright just yesterday (Tax Advisor for Robert Kiyosaki), and in the first 30 minutes or so he talked about how a 10% return in the stock market is worse than a 7% return in REI. He gave specific examples of why, which I liked! Highly recommend that book (or audiobook) to anyone!

@Matt Mulvihill

Yes, that's certainly part of the reason laws were originally enacted around ATDS's and calling/texting cell phones.

@Jonathan Rivera

Even if a person is not on the DNC list, you cannot use a mass texting platform (i.e ATDS) to contact their wireless number unless they opted in.

@Daniel Smyth

A text from a mass texting platform may get your attention, but it is also illegal unless you opted in to receive texts.

@Toni Conway

Just PM'd you

@Sue K.

I'm sorry to hear about what you went through after your mother's passing.

And I'll add, it's not just about the DNC list. You cannot legally call someone's wireless number with mass texting and/or ringless robocalls unless they've "opted in."