All Forum Posts by: Jason D.

@Victoria VanHouten if you dont have the desire to be a landlord, being a house flipper is a fine way to make a living. The advantage is quick cash, the disadvantage is that it's a job. When you stop flipping, you stop making money. Long term wealth cant be had by flipping alone, you have to find an investment that pays you an income so you arent always working for your money.

@Cody Godfrey the answer is in your lease. Im sure that there is something in there that he is violating. Find what it is and use it

@Bryan Grooms if its month to month, that's ideal, no eviction would be necessary, just notice of non-renewal and 30 days notice

@Bryan Grooms are you under contract? If not get it under contract with the stipulation that you can verify payment history.

He has to have a bank account with deposits. You could also, at that point, speak with the tenants and get estoppel agreements from them stating what they pay.

Just make sure you have yourself covered...

@Hugo Moreno No, and no.... unless the tenant agrees to terminate the lease. If they want to stay, you have to abide by the current lease in place.

4% to 8% depending on a number of factors

@Robert Trevino an ideal BRRRR candidate will have enough built in equity that the property should easily cover the debt. That, in itself, is good protection for the lender. For the borrower to have personal finances protected, the property should be purchased by a well setup LLC. An attorney in your state should be able to help you set up that protection

@Nicholas Morgan what is the current rent? You say you've set aside reserves of 18% but repairs arent cheaper based on rent. 18% of a $2000/mo rental should be plenty, 18% of a $750/mo rental is far too little.

If you're reserved properly, I'd probably do the deal.

@Austin Works I think hiring a property manager would be the easiest way to be a little more hands off

@Logan Causey I know they say that it's an indicator. What I don't know is that if every inversion has led to a recession, or that every recession was preceded by an inversion.

The old Correlation vs. Causation argument