All Forum Posts by: Cory St. Esprit

I'm 18 wanting to get into Wholesaling Real Estate to start out, and I've been researching and learning about it for around 6 months now and I have a strong foundation for what I would know and what to do. I want to actually know how I should start out doing it from people that have actually experienced it.

What do you mean you have a strong foundation? That's a very vague statement. What foundation at 18 is strong to start wholesaling? There's a LOT of companies in Pittsburgh (really, all over) doing this.

1 Vote

Pittsburgh, Pennsylvania

I'll agree with @Collie Hill. Also, if they're moved out, then give them your 24 hour notice to inspect the apartment (whatever the lease state) and just change the lock. This is why the Kwikset keys that you can change quickly (or other similar) are so good.

4 Votes

Quote from @Joe Villeneuve:

Quote from @Tina Lee:

Oh no, please tell me this, I sometime feels like this person just love me and like to talk to me for non-sense on her spare time.

I am overwhelm with her messages. And I am thinking about ignoring her from time to time

i mean do I have to reply to her request of future late fee waiver now? I can just ignorant her right ?
Quote from @Joe Villeneuve:

Quote from @Tina Lee:

Hi all, she has no late fee now. She paid on 1st this month. I have no idea what’s the F. She mean, but I believe she mean is is going to pay late in future all the time.

This is the same tenant won’t let me raise her rent and I had to explaint to her , I have inflation cost to take too. Is just constant request from her.

Since when does the tenant decide if the landlord can increase the rent. You just increase it. Their option is to stay and pay it, or move. I hate to tell you this, but this tenant owns you.

Here's one of my most important rules as a landlord. NEVER LET THE TENANT KNOW WHO YOU ARE. That's a recipe for being taken advantage of. they will want to be your friend, then they will expect favors from you all the time.
Even if I visit the house, I'm not the landlord, I'm the property manager. I have no say in anything, as far as the tenant is concerned, I don't make money decisions, I just follow orders. Any questions, complaints, or problems, the tenant has to communicate with the landlord, in writing. I know,...that's me, but not as far as the tenant knows.

This is easier said than done. My offices sit on the main floor of one of my apartment buildings.

0 Votes

Quote from @Michael Fraulo:

I would say something like this:

Thank you for reaching out and sharing a bit about what's going on in your life. I wish you all the best in this new but exciting chapter.

Regarding late fees, I am not able to waive past last fees. The lease terms are in place to keep things consistent and fair for everyone and I've been advised to stick to them.

That said, paying rent in advance is welcomed and I'm glad to hear you are thinking proactively. Let me know if you have any questions.

I would agree with this. Always use the "Advised" word - the lawyer, the accountant, the random people on BP - doesn't matter!

Let her know she can pay the late fees AND get a month ahead so it doesn't happen in the future.

0 Votes

Quote from @Keri Cor:

A paying tenant is almost always a good tenant. Problem is, your tenant is disturbing other tenants (smoking, filth, noise).

Is it worth keeping a problematic tenant who will likely cause you to lose other reliable tenants? This will happen sooner or later. Then you’ll find yourself with a vacancy anyway. Obviously, this is what you hoped to avoid in the first place by keeping the troublemaker. So it’s not worth it.

I’d politely decline to renew once the lease term ends and find someone new.

Thanks. That's what we ended up doing. She's going to stay until the end of the lease term, which is nice. Funnily enough - since she got the notice, they've been the perfect tenants (but I'm not letting it change my decision).

1 Vote

Pittsburgh, Pennsylvania

Update again: Notice sent and they're packing up their stuff to leave today. Apparently offering them to leave early without requiring rent, they decided a few hour notice is a good idea haha.

1 Vote

Pittsburgh, Pennsylvania

Quote from @Dan H.:

How long have you owned? The reason I ask is at that rent point there is no profit on a sustained hold. this is regardless of furnished or not.

if you do not get rid of the tenant, the situation will degrade. Easy decision to get rid of these tenants.

More difficult question that was not asked is do you get rid of these tenants property and I think that is as easy a question. Managing units is work. You deserve to be compensated. Owner RE has work and risk. These deserve compensation. Your cap ex will catch up with you. Sell before it does.

Good luck

Not even sure what you're saying - sorry. Why would I sell it? I enjoy owning it.

0 Votes

Pittsburgh, Pennsylvania

Thanks for the advice, all! Non-renewal notice sent today and posted on their door, allowing for them to leave anytime between Feb 1 and March 31 with a refund of their rent on a per diem basis (if they've paid for that month).

1 Vote

Pittsburgh, Pennsylvania

Quote from @Jamie Dietz:

That seem like a very low for a furnished rental. I would not offer furnished rentals in lower income areas. I think that strategy works best in higher areas or mid term rentals near major employers.

For the furnishing, it was because the previous tenant we were helping support as she got out of an abusive relationship and a crisis pregnancy. We helped her move to PA from FL, provided a furnished apartment at a reduced rate for a while, etc. However, her life changed and she only stayed for the first year. So, instead of spending the time to move the stuff out of the apartment, we offered it as furnished. If it wasn't for the fact we used it as ministry to support this young woman prior to this tenant, I wouldn't have done it.

1 Vote

Pittsburgh, Pennsylvania

All Forum Posts by: Cory St. Esprit

Cory St. Esprit has started 20 posts and replied 93 times.

Post: Pittsburgh RE meetup

Post: How to start Wholesale Real Estate

Post: Help tenant won’t give me the keys

Post: Help me to reply to my tenant

Post: Help me to reply to my tenant

Post: Would you renew?

Post: Would you renew?

Post: Would you renew?

Post: Would you renew?

Post: Would you renew?