All Forum Posts by: Joe Homs

@Becky Wong Kaplan I would have our friend review the PM contract and see what is needed to cancel that relationship (usually 30 days notice.)  That solves #1.  Then find out what needs to be repaired by section 8 and make those repairs.  If it's something the tenant damaged, then you can charge them.  Usually, the section 8 tenant is very cooperative, if not they will lose their voucher.  If you don't want to keep them then wait for 60 days prior to the end of the contract and notify them.

Good Investing...

@David Krovblit you can find some good one's here at this meetup.

OC Real Estate Investor Networking - Founders of Creative Vestors (biggerpockets.com)

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@Samantha Hooten Is there a reason that they are selling?  Are they old enough for a reverse mortgage?  If you put yourself on title, then the County will reassess the value of the home and you will pay more in property taxes.  A good investment is something that cash flows.

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@Kyle Pierrehumbert yes, so true.  When you get to the point of renting out the unit make sure you get a NON refundable deposit if your state allows it to keep them honest.

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@Kyle Pierrehumbert that is what being a landlord is all about.  I would suggest a price drop, but you say its competitive.  The longer you have it on the market, it like offering a price drop right away.  If you are renting for $1200 a month and can't then you have lost that income for the year, so you are really at $1100 a month.  Rent it as quick as possible.

If your feedback is great then why are they not following up?  Are they being honest with you or don't want to hurt your feelings?  At the minimum, the home needs to be freshly painted, newer flooring, and all the appliances in good working condition.  Have you considered section 8?

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@Kaleb Ahonen looks like you really want to learn.  Check out this meet-up in the OC also listed on BiggerPockets here: 

OC Real Estate Investor Networking - Founders of Creative Vestors (biggerpockets.com)

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(No cost, no pitch) Forming new relationships and networking may be the most important aspect of success in real estate. Furthermore, learning from the real-life success and failure of other investors is invaluable. This is a perfect place to learn, grow, and network!!

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The connections that perfectly complement you are out there. If you have not found them yet, you aren't looking hard enough. No successful investor will tell you that it is easy, but they will tell you that most could achieve success with hard work and perseverance. Don't give up!

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Guest Speakers : Founders of Creative Vestors

Richard Knowles is renowned for his expertise in creative financing. He's a SubTo SoCal Regional Leader and featured in Pace Morby's BiggerPockets book. Richard's innovative approaches and practical knowledge make him a sought-after expert in the industry.
https://shor.by/richardeknowles

Mitch Roye is a leading figure in creative property solutions. With expertise in creative finance, including SubTo and Seller Finance, Mitch is a SubTo mentorship leader under Pace J. Morby. His diverse experience encompasses flipping, development, holding, and wholesaling properties.
https://shor.by/mitchroye

Join us as Mitch Roye and Richard Knowles share their insights and strategies at our real estate meetup.
www.creativevestors.com

Agenda:

6:00 pm Pre-Networking (Please order some food or drink)

6:30 pm Introductions

7:00 pm Speaker Information

8:00-9:00 pm Networking

@Manuel Mungaray ask away...

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@Maleeha Moha this very rarely happens, but sometimes does.  Ask to speak to a supervisor.  Was this your escrow company?  If so, don't ever use them again.

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@Tammy Smith you would hold it under the exact name of your 401K, whatever that is.  If you want more advise reach out to @Dmitriy Fomichenko who is the expert in the field.

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