All Forum Posts by: Joshuam R.

 You don't.

I accepted applications non stop (pre-screening) Even during set showings appointments. 

(suggestion, which you are an agent you already practice this, but to save your self time set the appointments to min 20 mins, and set multiple ones same day)

Greet them with big smile, show them all rooms. 

Do not accept double or tripple deposit candidates with sad stories, have every single person go through the process of elimination.

Once I found a great candidate step two was for them to pay background check through transunion (if they end up signing lease down the road, I would offer a refund on the app) If they didn't get a pass is all good because transunion data they can use with other landlords.

I did all marketing all websites, even facebook. and the number #1 that worked the most traffic was .... front yard sign and closest busy intersection yard sign. (stay away from facebook, it is chaos)

Best wishes, Good luck.

I am a landlord. That replacement is not tenants fault. You have to get better and be on top of things for utilities schedules. Cringe to read that you went after the tenant when is not their fault. This is a lovely case to watch in Peoples  Court. Let it go, and give them their due deposit balance. Take your lesson move forward.

Best wishes good luck.

(p.s. to all up coming landlords, We are to be of great service to these families making us money, and if you are not making money after giving an excellent product, and using your system to place excellent tenant, then this game is not for you)

 Correct, that's an option we have especially since we have a university 5 mins down from us. Typical do to market rents the trend is that a tenant plus extended family members move in to bigger homes to handle the rent established. Not everything or every lifestyle is cookie cutter, it is also creative lifestyle and survival. So having that 5th bedroom will attract excellent bundled family tenants. Already experiencing this with our current rental. No headaches, rents paid, and also I was able to achieve above market rents for such product, above $200 market rents. 

 Makes sense. Thanks for your thoughts. 

Part of that plan of transition is the current second home for approx $1,000 in material I will turn the loft into a full 5th bedroom, which would increase future appraisal approx. close to $20,000. Also part of that transition goal is to decrease $1,000 monthly bying less pricey home. Hopefully to rent out current second home and hit $400 cashflow (least $200) if $200 is the cashflow I would not consider it as such, would just all go to cap ex and treat it as a monthly break even. But hold asset with increased add on equity.

liquidity for DP on second investment property along with using HML

or (currently living in our second primary home) DP funds to be used on 3rd primary home to down size monthly living expense and rent out second current home.

The focus, and the right energy you will enjoy the most and still win on is the duplex. By reading both are wins, I can see you are more excited about the duplex, also your inner circle support system of friends/acquaintances are leading you towards the duplex. You will get advice on both and which one is better than the other. But my bet for your is the duplex. Got to keep the "Pursuit of Happiness" very important vs anything else. At the end you are actively investing and actively winning, and most important that your risk also brings peace in your mind/heart.

Best wishes, good luck.

If you are able to, do one of each, at the same time or within a year spread out. Then you will know what works and you are going to love enjoying doing. Every investor in every niche love their niches. Some love swimming at the beach, some love swimming at the springs, some love swimming at the pool, at the end all 3 are getting wet.

Best wishes good luck.

Do a mix of Dave Ramsey to master your lifestyle expense and budgeting, start saving the cash (which you already are), then Grand Cardone all your choices moving forward (emotionally) 

Other than that run the numbers, then run the numbers and prospective scenarios of few properties you are interested in with BP forum base to filter your overview.

And to battle the final leg of your paralysis beat your self,

speak to your self out loud "Just Do It!, Yesterday You Said Tomorrow!, Yesterday You Said Tomorrow!,"   <-----Say them, stronger and let them overpower you.

Best wishes , good luck.

@Ron Brady Makes sense, I will research that area later on to get familiar with it.

From what I gather is having active heloc is best to use private lender, but if using a bank, they like to see the funds seasoned at least 3 months. I was thinking of once heloc is approved, transfer the funds to external bank , use same funds to circle it back into the monthly payments due. Example:

heloc approved $100k

transfer to external bank $100K

Pay back into heloc account from external banck $1k monthly (budget $12K per year)

Real balance of seasoned funds to play with $88k

Or I am making my self too complicated, should I stick with PML that are not worried about seasoned fudns, as long as they see the heloc liquidy of $100k they are happy.

 Thank you @Ron Brady Sorry I missed to also add that it is a 20yr draw and 20yr repayment period on it. I do live in Central Florida. Had you had a chance to work on properties in Camden?