All Forum Posts by: Kelley Phan

@Erik Whiting

I like that idea a lot. Taking the rent instead of waiting for it is great advice! Thanks! I’m going to try to find incentives for an ACH!

Help!!

I have sent out a letter of notice to move out because of unpaid rent, it’s been 3 days so I will start the eviction process now but I checked on the home and they are in the process of putting up an above ground pool, it was just bought on day 3 of the notice to move out... they are mad... what is their game plan? what should I do?

I never thought to put in no pools in the contract.

@Aaron Stuiber

Thank Aaron, I am going to look into creative ways for the cash for keys method. 

Great Work! This is very inspiring. I am about to close on my first property here in the next couple weeks. It is a 5 bed.2 bath home with a mother in law unit. I am 26 with the goal of having at least 15 units by the age of 30. Any advice on that? Money is short, so what would be your advice to where to start?

@Kyle J.

Kyle, Thank you so much. this was very helpful. I was thinking the same idea so that I can try to get better tenents in that is willing to pay more. 

@Matt Ward 

Thank you for tagging me in this. This was very helpful.

I just got under contract for this 5BED/2BATH w/mother in law unIt property where the numbers run great with almost $600 of net cash flow a month, which I believe to be decent for my first investment property, BUT there are a couple things I ran into and am seeking advice for. 1) During inspection, we found a few hazardous things on the property, that would need a $20k fix. B/c it is such a great deal for my area, my agent is going to try to get the asking price down from 287k to around 260 or to see if they will pay for the fix ups since they didnt disclose any of the dangerous hazards on the seller disclosure, If the seller isnt willIng, then Im out. This home has already been under contract 2x before me. MY QUESTION, why wouldn’t they disclose any of the hazards such as a former flood downstairs due to a leak, or mold in the bathrooms that they tried to hide durIng viewIng or the fact of needing a roof change and updated electrical work. Isn’t that illegal? My agent is going to try to use it as leverage. 2) the very dirty tenants downstairs has very recently signed a 2 year contract for only 1037/mo but I could easily go up to 1100-1200 which is the norm for a downstairs basement that area. CAN I UPDATE THE CONTRACT? CAN I KICK THEM OUT TO FIX THE HOME?

Please help! Thank you!

@Jason Lee

Hi Jason, we are currently working on plans right now. They just want to know the process of getting things done. I think you have a good point about presenting deals to them. I was under the assumption that I will find deals with them once they are ready (obviously, that isn't moving fast enough), but I agree with you that I should just find the deals myself and draw out a plan and show them how their money would sit here in the US. 

Thank you for that advice. 

@Alina Trigub

Those are great questions for me to ask. I am currently looking into the NNN leasing now to find out how beneficial it would be for both sides.

Thank you so much for your time.