All Forum Posts by: Leah Spurlock

I bought 11 houses in a package deal as is.  One of the houses had a active water leak with kitchen sink day 2 of my ownership.  This leak was likely happening before, going unnoticed, because there is damage to the kitchen wall and connecting bathroom. Now I have contractor saying they would recommend repair of bath and kitchen and preference would be that tenant be gone.  She's already late on rent.  Do I file insurance claim? If she pays her rent current, am I responsible for providing her housing while I am rehabbing?  Is it a option to give her 30 days notice to vacate and tell her I am selling (which I may)?  Contractor is mentioning probable mold. Thanks for any advise!

Thanks so much for your input!

We are new investors to rentals/flips.  I have recently purchased 12 properties which 10 are currently rented.  I'd like to self manage these. I just want to make sure my financial tracking and bank accounts are the most efficient.  Currently, I have spread sheet for each property.  I have set up a business checking acct for all income and expenses, and a business savings for security deposits. I'd love to know how others are keeping their financial tracking efficient and easy.  Thanks!!

Thank you all for your thoughts! Much appreciated!

I am buying 11 houses from a retiring investor in which he collects rent at different dates for different tenants.  He knows when they get paid and has always collected on dates when they get paid.  Ideally, I'd like everyone due on 1st of month.  Any suggestions and how to transition these inherited tenants to 1st of month? 

His price for the entire package makes each house below market value.  Individual prices, if bought separately, he priced a little above market value. 

I'm a newbie from Indiana. I have listened to BP podcast for months and read the books. I mailed out my first round of DM letters Jan 1 and BAM, I received a text from a owner that gave me a price for a house and offered to sell 14 other rentals in our town, all but 2 occupied. YIKES! His price is pretty reasonable for total package. However, I am so nervous about getting someone else's tenants. The properties are rough and need work, but ideal rentals for this small town area. The owner has had them for over 20 years and ready to retire and get rid of them. Also, I wanted to BRRRR properties but how do I do that with tenants in the house? This moratorium talk also has me nervous! He's even willing to do seller financing. I do not think I will get a opportunity like this again but there is definitely some anxiety about how to handle these houses to successfully cash flow and BRRRR. My initial idea was to buy one by one as BRRRR properties. Also, they quit signing leases and scanning tenants, so there's that too. Any advise on taking the risk or what to use caution with would be appreciated. Thanks!