All Forum Posts by: Loren Clive

I've never paid for any mentorship program, as you can learn the same stuff for free by reading books or building relationships. I was recruited as a young realtor by a team of investors who taught me to flip properties in Hawaii acquired at foreclosure auction. Everything I know I've learned on the job. 

Be cautious spending money on mentorship,  because I've attended some of these high pressure sales things. Often for the amount of money they're asking, you can get started in your first deal. And whatever they're teaching you, like tax lien investing, can easily be learned without all that upfront cost via free research.

Best wishes and congrats!

Not a lawyer, but I can help with this for a fee. DM

I do private money lending in Hawaii. 808-250-6891

Do the math. With $400k, you could easily make a 12% hard money lending. Or at least 10% in the market. 

If you can't buy something that is netting over $4k/mo, just hard money lend. 

That said, I do know of a multi-unit income property on Maui with better returns than that, but--shocker--it has some non-conforming aspects. DM me for more info

Hard money lending. 

Go with your gut. If you ever feel something is off . . . it probably is. I walked away from one of my biggest purchases ever after I started having panic attacks about it. Lost $12k but it was absolutely the right decision and a very humbling experience.

Any dishonesty is a red flag. And unfortunately there's a lot of that in this business. 

Any pressure or inflexibility in timelines, anyone who asks prying or unnecessary questions they should already know the answer to (pumping you for information), anyone who's not listening, anyone who's trying to beat you up on your price on the first deal.

Know your personality and which personalities you work best with. I refuse to work with nervous Nelly types as they drive me crazy! 

Dawn, I love your vibe! I would recommend getting your RE license, especially if you want to get into property management. It is one of the best ways to learn the business.

Even if you don't end up in PM, having the license would help you save on purchasing your own homes.

Aloha from Maui

Offer the payment plan. That way, you may get some money versus no money. And in court it looks good that you did everything possible to make it work for the tenant, especially if you end up having to evict them.

Technically, this is the owner's decision not yours since you're the PM. What does the owner say?

I would advise them not to accommodate this tenant. There are better tenants out there.

I'd reread the lease. Perhaps you can terminate it on other grounds, like breaking a house rule, bringing in pets, etc. if you really want to get her out. This has worked for me in the past.

Otherwise, you can offer her a full deposit refund for leaving unit in acceptable condition and moving out by x date, basically "cash for keys."