All Forum Posts by: Clint Shelley

@Tyler Baldwin

I wish they would come up with a plan to spend the money they already get every year. If they would quit fighting, remove the special interests, and actually perform as public servants, they would have plenty already. There's no doubt in my mind though, that Biden has "plans".

Clint

6 months isn't excessive at all. Lack of reserves is an issue that will take your investment away. I have a friend who's sister-in-law inherited 27 sfh rentals. She blew through the capex and put some notes on them to live like a queen. She didn't know how to operate them not had the discipline. Storm came through and 18-or 20 needed roofs. No money. She had to sell them at a severe discount.

@Chris Nester

Awesome man. Good news is, the next one will be so much easier. Don't forget to save and plan for capex. I've spent 1500$ in the last 2 months on AC repairs on 2 rentals, but that's part of it. Here's to your continued success!👍

Clint

Quick update on this post. We received took a contract today on all 10 lots. Glad to turn this. A little slower than I thought, but we will do very well. Once we close, I'll update with final numbers.

Clint

To paraphrase and shorten a story a used car dealer told me, no matter how much you repair, the day you put your foot down, they're going to call you a son of a b. So it might as well be the day you don't spend any money. If/when I flip a house, I'm going to purchase a home warranty to give with the house. Let your lawyer hammer out a settlement. Don't fix anything else. It's just a part of doing business as you'll run into these terds.

Clint

I've also had good success, not just food success. Damn auto correct.😫

Clint

I second TransUnion smart move. You send the tenant a link. You can pay or they pay. You don't get their social or dl number, so you don't have to have special Bs for security. Less liability on you. If had food success with it.

Clint

Good morning everyone,

A buyer has agreed to purchase some lots I have for sale. We agreed that he would pay for closing costs. The contract he presented states the following:

Does number four suggests that I have to pay for any cost to get the deed up to a warranty deed versus some other lesser deed? What do you guys think? I've closed with this bar before and the same attorney, but I have a call into the attorney to clarify. Thanks for your responses.

Clint

I would echo what the others have said. You have managed to save a nice little egg to start with. You're already ahead of most folks, and for that you should be commended. The 4 Plex house hack is your best option. Prices aer high now. Keep saving and wait for a good deal. For now meet some lenders and get some relationships going until your deal happens. Good luck.

Clint

I'm a nay sayer because of the experience level combined with the fact the place looks like a pallet shack. It may be a home run. Just budget accordingly.

Clint