All Forum Posts by: Darron Stewart

In case I was unclear, try to find out why the drop.  If because of the area becoming more undesirable, then shy away, but if a lot of areas doing the same thing, so another dip, then may be a good buy.  Even if I live or rent a house, it is an invesent and I want it to appreciate and maintain resellability! 

From my untrained eye your building on the left used to put it into a downspout on your side but the modification looks to be sending it to your neighbors side downspout and would think he may have a legit beef.  If his roof was designed to take X amount of water and now he is getting X times 1 1/2 then his roof and downspout may have excess water which could cause damage...

As Darren said, try to find out the why, if it seems to just be a lull, may be a perfect buying opportunity.  Have family in arizona, they hunkered down during the crash, I suggested they double down and ride it back up...they just rode it out and probably are wishing they had taken my suggestion.  I saw it on a much smaller scale here and went from 1 to 3 rentals, wish I had bought more but getting there just fine...

The only time I dealt with that, I had inherited a tenant that would forget to send checks.  He had the money and after two late fees, suggested he mail postdated checks (as he did in the past) for the rest of the year, worked out fine and with 1,000 miles between us, was a huge relief on both of us.  He was a tenant for about 6 years and in that short time paid over 2 times what the property was originally purchased for....

I just put LLC on offer and would suggest you set up an account for the LLC and use funds from that account for down payment. Possibly "loan" your LLC the money to get started with and repay at some future date.

@Craig C. 

All you can really do is minimize the possibility and it's impact, utilizing the variety of suggestion already given.  The "just in cases" were not mentioned, if you get a bad one:  utilize your lease to remove tenant/s for violations, make sure properly insured, follow laws, have lawyer and/or police contact info if needed, etc.

@Kevin Galus Hate to answer this way, but it depends on your thinking.  If the carpet was on its last leg and it was time anyway, maybe split it with them.  But typical thinking is, if the carpet was damaged by the tenants dogs then you would not be repairing normally and the deposit can be used to return the property back to it's original condition.  Let me give you an example, if you had the place returned clean you could avoid the cleaning costs, but if your "cleaning company" charges a flat fee of "$700" to clean then the tenant could be charged the fee, even if only one room was filthy or in your case, one room of carpet was damaged.  Hope that helps!

@Paul Chase Demand and supply go hand in hand and in large part determine price.  Demand can be found out by:  asking realtor, rental company manager, craigslist ad, telephone book, signs, taechical and vocational schools, industry, destination location, and on...  In asking or looking around, find out which is most needed and what rental prices are for those properties.  Now that you have some idea, supply can be the key you are looking for...if you see lots of apartments and they are at under 90% occupancy, may be too much supply, same with 3 bedroom 2 bath homes, if you see signs that there are a lot available, then low demand because there is too much supply, so my suggestion would be to find what is most needed and score big.  That may be a studio up to executive rental, if you can find what it is and are able to buy or build one, then you can practically name your price!  Best to you in your analysis.

@Bailey Tollison Sure thing, let me know if you have questions along the way.  I bought another 33 last month and ramping up for our August purchases all while under contract on an estate property, kinda like storage wars but we keep the container!!!

@Joe Kim 

Welcome, now that you are here, read up and jump in.  What are you planning to invest in and how can we help?