All Forum Posts by: Joshua D.

I would stay away from it unless it’s a really bad space issue. Like blocking a door or something. tankless usually don’t pay out and especially if you don’t pay the utilities. 

Regular water heaters are easy to work on and replace. Just stick with common practice. It’s better that way. If a tank one breaks you can replace it for $400. If your tankless goes out you are back to spending $2500 on a new one.  Don’t go with a $800 cheap one. You will regret it. 

@Roy Lam

What does the lease say? What do the laws in your state say.... 

If it was me I would Not take the money and just flat out tell them I am filing a 3 day notice. Then file the eviction after that.  Be clear! Communicate through the whole process. It’s amazing how tenants find money when the know you are serious. 

Good luck out there. 

@Account Closed podcast, he had incredible tips, and a great mindset for the “average joe” investor. Spend a ton of times on the success stories forums too and you will pick up themes.  

well here I am but....

If I was you I would consult an attorney and get professional help. I have never dealt with insurance claims or HOA's or owner finance for that matter.

I think the best thing for you to do here is calm down a bit and then have good CLEAR communication with everyone involved, listen and make sure you are getting all the info you need to make good decisions. 

I personally do not do owner finance for this very reason. It seems messy. Banks are much cleaner and will never have to deal with some of the issues you are looking at. 

Sorry I cannot be more helpful! 

I’m with @Steve Vaughan on this one. Get the 15. You will have a free and clear property in 15 years and it will cashflow better. In real cash. 

Unless your goal is to grow to 25 units really fast. Then you might want to go with 30's just to keep DTI low. But for what it sounds like you want to do 15 is the right path.

@Mindy Jensen

We do most everything at Lowes  Mostly just cuz it is what we are familiar with. 

We just past 600k 4 months later... Its going fast now. 

I would be more concerned about the type of tenant than about the numbers.  In my experiance those folks renting 400 apartments are a Pain to work with.   

Is this a C-  or D+ property 

@David Mutch

We have done a handful of flips in the area and would love to connect over coffiee or lunch some time to share ideas! 

Billings is ripe for making some profit in flipping right now! 

Small town investing in Montana is all we do and it has worked well for us!   Excited for you on your journey.