All Forum Posts by: Jane S.

wow what an ambitious starting-out focus! Hope you will read up on what syndication requires of a sponsor, which can be as difficult as visiting the moon ... at least for me, i am NOT a number cruncher. Please don't invest until you've really studied it, because it's quite risky.  My advice, you're safer starting out with a single, duplex, or fourplex just so you get a real taste for who's in your market and how you can cashflow. Another idea would be to have a Q & A with a general residential contractor to learn from their experience. Best of luck!

At first I wanted to be moving on from the nightmare of horrendous tenants' damage. But it's almost a year since I got them out and I sold the property for a nice profit. I know that I have a few years before I file suit but I want to work on it now that the weather and COVID fear are keeping me indoors. 

Would appreciate any tips, especially some clever way to find out their current address. I have the woman's original birth certificate which she left in a pile of trash which should help in locating their current hovel. 

TIA! I am in awe of how much this platform helps me.

Hey y'all, lease violations cost me big bucks and there is no way around tenant bad behavior except to keep a list of their idiocies and count the days to end of lease! a couple of them told me theyre "scared" of me and I like it like that. When they start bitchin about how "often" you are at the property you need to start surveilling. I schedule 6-week inspections it's in the lease. I HATE doing it cuz theyre total slobs. I had great training for this, taught middle and high school in C minus neighborhoods so guess what, many of the kids turned into renters ... it's an unbreakable tradition. Why aren't the parents "blamed" for our public failed school systems? It's on them with their addictions and disrespect of learning... today's rent due day what % of y'all will collect full amount?

meaning i will focus on 3/2 with smaller floorplan

and contact usps to find out who else gets mail there

ive had unknown squatters because my properties are large. not going that way any more since squatters are no different from burglars

Cheap properties attract the worst crap garbage loser "tenants" (my term for them is disgusting thieves who lie their way thru life).

Your strategy needs some very careful due diligence. Especially if you go out of state, you are losing big bucks to the PM's who rrip you off and laugh on the way to the bank plus your rentals will accumulate a very bad smell due to the nonperformance of your PM's who totally ignore the occupants and dont even know they're stuffing the property with squatters.

are any of you keeping the security deposit? I raised mine and rarely refund any my tenants are so awful I am getting out of this biz.

thanks everyone, these tenants have such messed up lives. The 2 women, 68 yo mother and 50 yo daughter, are earning decent money from one of our larger school systems and are highly valued by their supervisors. The soninlaw had back surgery and is disabled. His 20-yo son has narcolepsy and cant work altho seems normal when i chatted with him. The teenage daughter will be getting a job shortly just to get away from the crappy family environment. The weekend boarder babies are from the 68 yo womans son whose marriage is kaput. This woman also has another daughter I dont know anything about and dont want to. Its all bad news and when i went there saturday the 68 yo woman was cleaning and cooking and organizing and everyone else just sitting around or playing with the baby. They seem aware of the need to treat the plumbing lines with respect. When I do my inspection I will be looking for wipes and other similar items. They are responsible for maintaining the black water drain. And they were the best of all the a$$holes that didn't even make it past the initial phone qualification. which is why i'm not looking for any other RE deals. Total wasteland out there.

Recently rented to a family of 5 with 2 adult men unemployed. A little nervous about that but the numbers worked, the women are carrying the financial burden.

When I went there Saturday to do the condition inventory there were 2 little kids there. One 9 months, one almost a toddler. They were the great grandkids of the main tenant, her grandson's kids. They are going to be there every other weekend. They were not listed on the rental apps. 

This is a surprise. Do I consider them occupants, even though they only live there every other weekend? Am I responsible for their safety etc.? I dont know their full names or their parents' names, who don't live there. 

Just wondering as it never happened before, and feeling like the tenants should have informed me about details, parentage, etc.  I dont know if they have legal custody, if the parents are divorced, whats going on. But it means additional wear & tear especially as the babies get bigger. Thank goodness their lease is 6 months.

The house is perfect for multigenerational living but this takes the cake ...

ALSO just because you have some docs from the seller, doesnt mean a ********* thing. 

Youve got to visit the units and converse with the tenants to see what;s really going on, paperwork isnt even worth the paper its on. Besides if you tell them they can stay to April 23 they will understand that to mean "all summer". NEVER share your biz plans with tenants.