All Forum Posts by: Karl B.

One bonus about you paying the internet and owning the equipment is you can more easily add security cameras and/or a security system to the router/modem as the tenant won't be taking the modem/router when they move out as you will be owning that equipment. 

I've gone to meet-ups in two different cities (the most recent is the Erie, PA Apartment Association which I had been a member of but did not attend until I moved back to Erie, PA) and enjoyed both. 

It looks like you're in Columbus, OH and they have an Apartment Association as well: https://www.caahq.com/

I'm not familiar with the Columbus, OH Apartment Association and realize that not all Apartment Associations are created equal (the Columbia, MO Apartment Association sucks when compared to the Erie, PA Apartment Association and what it offers landlords as far as services and information goes) but I recommend checking your local Apartment Association out.

See if you can attend a general meeting where there's networking. 

I left California in 2020 because I saw where it was going with high taxes and stupid policies... and it's only gotten worse. 

I agree with @David S. 100% and would not only love to see BP lobby nationally but I would also challenge each and everyone who reads this to lobby his or her own local government to create and improve landlord-friendly laws (and strike down/cut back anti-landlord laws).

We need to go on the offensive and not simply wait until stupid tenant-friendly laws are about to pass before we do anything. If we all work to get more landlord-friendly laws in our areas it will make a difference. Many of us have local real estate met-ups and/or local Real Estate Associations and we need to bring this up at the meetings and create committees within those groups so it's worked on.  

Good job! I hope BP gives you a free membership and some other cool perks!

I give my good tenants (which is the majority of them) a Christmas card and a $25 gift card that's good for a number of local restaurants (Applebee's and a few other places).

I give my good tenants (which is the majority of them) a Christmas card and a $25 gift card that's good for a number of local restaurants (Applebee's and a few other places). I started doing this back in 2016 or 2017 when I had 6 doors.

I went to a free 2-hour seminar in Los Angeles that a "real estate guru" had. I Googled  the name of the "real estate guru" and the word 'scam' and found a thread about him on Bigger Pockets. And the rest is history. 

Back around 2015 or 2016 I watched the BP beginner webinars for months on end, learning what a good deal was (thanks, Brandon) and read A LOT of BP blog articles (back when they e-mailed blog articles and the trending forum threads - the good old days).

BP was my mentor. And once I started buying properties the learning curve propelled me to learn a whole lot of things on the fly as well, which was great. 

I dealt with this in NW PA. You must store it for 30 days. Of course, after the initial 10 days, once the items are removed from the property by you, the tenant is responsible for paying the packing cost, moving cost, truck rental cost and warehousing cost and they must pay in full if they want their property back. 

I've had a lot of tenants move out and leave stuff. Most will not claim anything after 30 days and you can sell it. Even mediocre furniture sells well on Facebook Marketplace. 

I once had a tenant request his stuff back after the initial 10 days but prior to 30 days and I sent him the invoice for what he owned for packing, moving, truck rental, warehousing, etc. and I never heard back from him again, but it's a very good idea to hold it for 30 days to cover yourself legally; after 30 days the stuff is yours. 

Great question, plus I've never seen it before on BP so bonus points for being original. 

I believe the majority of landlords own 1-2 rentals. Many will own for more than 4 years and over time they'll sell. 

For example, my last buy was from a guy who was getting divorced. He wanted to keep his primary residence and had to give his soon-to-be ex some money to cover her share of the property and so he sold one of his two rentals to me to raise the funds. 

His other rental is owned by he and his son. 

I know a handful of others who owned one rental, couldn't handle the bad tenant(s) they put in there, and sold. Most of these people work a 9-5 and don't have it in them to be a good landlord who fixes things. 

I have no clue on the percentages, however, most people don't have what it takes to landlord properly, nor do many have the fortitude to deal with stress. 

What do I do when there's adversity? I don't think of anything in real estate as adversity. 99% of things are temporary problems that can be fixed.

Like Joe stated, define adversity. 

Bad tenants? Evict or wait until their lease is done for a nonrenewal. 

Plumbing issues? Hire a plumber to fix the issue.

I work to fix the issues whether property defects or tenants as I realize being in RE is better than a 9-5 job making someone else wealthy.