All Forum Posts by: Leslie A.

Hey Alexander,

I went the way of the low class properties, actually my rentals aren't real estate, but they cash flow like RE.

I even do weekly rents (but with a 6 month lease), so I can get the maximum amount of money.

Yes, there are more hassles with this model than if I had expensive homes for rentals.  But my options were really limited.  I had very little money to start with and bad credit.  I decided that I would put in the hard work of actively managing mine and getting the best tenants I could, in return for high cash flow. 

It's only been 4 months, but I have 5 tenants now, and have only had two late payments.   I think you have to have very strict payment policies (i.e. - zero tolerance for late) and enforce them to the letter.  That's what I do.  They're not poor people, they make good money - but for various reasons they want to live in my properties.

It also helps that my stuff is in high demand.  My renters want to stay, so they behave, so far.

You might also check out the book "The Section 8 Bible".  It goes into a lot of detail on how to be successful with really low-priced section 8 properties. 

Later, after I've accumulated some money from my current rentals, I'll probably want to either move into nice real estate, or get some serious property management help.

I think that if you don't want to answer emails you shouldn't advertise online.  That's one of my pet peeves.  I shop very seriously online and when an ad placer doesn't answer an email inquiry, they don't get my business.

@Jeff S. 

So, how do I do that?  Details, please!

Thanks @Rachel H. 

  I appreciate the updates!!

Hope they get rid of this quick.

@Sam Leon 

  OR not AND!  lol

Most of my applicants and renters have been great, but I've had a couple of guys that have tried to get me to bend my rules, and just generally been unpleasant.  I suspect they wouldn't act the same way if I was a man, instead of a small, feminine woman.  What do you think?

I prefer text and emails. Often, I'm driving, cooking, the kids are screaming, or I'm in church.  Then I can respond at a convenient time.  I'm also less likely to break one of my policies when I'm not speaking directly to someone.

@Rachel H.  Any idea when this going to be voted on?

Nate,

I'm happy for you.  Don't let this get you down.  Go on and be successful! 

I recently had a tenant move out and tell me to go F*** myself.  It was upsetting, but we can't let these losers get us down.

?? Sandwich leases?  Who mentioned that? 

The MH I had moved was in Texas.