All Forum Posts by: Dennis Wayne

Too long ! Do it now !! The time will never be just right

I have found tenant selecting goes along way on multis . Especially where the units are stacked on top of each other . You have to have harmony in the building or it’s gonna be a nightmare with high turnovers . You’ll get more calls about drama and other tenants than you will leaks and loose boards !

When you buy a property and your hell bent on getting fifo out you must realize that People don’t just give up their pets, so you’ll have to give up the people and throw them out with their mongrels

Very easy process I’ve done it dozens of times . But you need to know what your doing ! Do not give them any money and get a sales agreement signed . Do an hour of research before you start handing folks big sums of money . They may not even be the true owners

Finding off market deals or sending pocket listings at a discount . The reality is if it’s on the mls the deal already sucks so your going to need to bring a lot more value to me if we can do business than fighting over the over price scraps that everybody and their brother is bidding on . Most real estate agents are pretty worthless in my type of buying . They lead you into the house and show you the different rooms and hand you some papers . I could train my black lab to do that ! You will need to be of value and that’s going to be finding stuff off market and orchestrating more of the deal .

Before you really peeve the guy off by posting notices hiring lawyers or calling in the national guard go over and look at the $&@@ stove ! Maybe it’s a piece of crap and you gotta buy a 150$ off market place . Is it really worth causing a huge war over and having this guy stop paying for two months and have to litigate .

Part of the fun no one talks about ! You can take 8% for caped which is 17.37$ and then the 4500 furnace dies lol owner financing is much better than rentals because you get to strip the equity , good cashflow , and no repairs or capex . Most cashflow is a fallacy long term because eventually the hvac dies or it needs a 8k roof or new carpeting etc . Do the math long term and you’ll realize it’s better to be the bank . An actual apartment house ,well that’s different

@Steven Westlake

Those were good ones

I word things like this

We do standard background checks , what sort of things will I find on your history when I do that ? And can you explain ?

@Mark Smith

If she owns her trailer and she pays lot rent on time I’m failing to find the issue here .