All Forum Posts by: Levi T.

It's probably seeped into the floors, I assume you pulled up all the carpet or sanded the hardwood floors... So go buy 2-3 electric Glade plug-ins for each room. Give the unit a week just sitting with al doors and windows closed, an no one will smell a thing.

I need a contractor for the Fredericksburg and King George area;

I have small 3 lvl apartment building, tree caught the corner and pulled on the siding and gutter. I need it all tucked back in and sorted. You need to own a very long ladder, licensed and proof of insurance.

Another job coming up in 60 days out in King George; batch of townhouses need a roll of dumpster and the trash pickup on around the unit. Old tenants stacked up all types of things on the decks. Last owner would pull Windows and just leave them on the ground, random trash everywhere. Simple pickup job.

King George again, painting inside of units, power washing outside of units, fixing soffits, installing new roof or two.

Towing companies will come get them for free, they will impound it, and wait for the owner to come pay the fee or sell it off. Let's you focus on what you do best.

You normally can charge them for the storage as well, so they can't pickup their stuff till the storage fee is paid, and after so many months you sell it off. It should all be outlined in your states landlord tenant laws.

I agree with Edward B. , the second tenant's income is above 2.5. You doing credit and eviction checks?

What makes you think that you can't have that many commercial loans or properties? Local banks will happily fund deals as long as it looks like easy risk. Age is only a number. Banks just need the deal to make since to them. Lots of options; could be buying with cash, rehabbing, then refinancing. He could have investors helping him in this area, or not. Bundling deals into single loans, leaning on older properties with new loans for zero down deals, etc. Could always ask him, or go down to the court house and look over stuff, title work, etc. You can learn a lot just by asking around town, calling the selling or buying agent, last owners will tell you everything you want to know and some. Plenty of guys in there mid to late 20's with 30+ buildings. Everyday it's all they work on, making more deals when they ain't working for the man.

Around these parts it's normally 10% of rents. I think the law also caps it in that normally. First month is always wonky, I would let her lease ride as a month-to-month for a bit and see if it was just due to ownership shuffle, or she's always late or no paying. Drop her like a hot rock if she is. This is where most landlord get in trouble. They have one late or none paying tenant they are working with. Few months later they have another, then another, then they are living hand or mouth and putting off repairs, then I call and buy the property from them at 30-60% below what they paid as they want out or facing real trouble from the banks coming to collect. Don't give anyone a mile. We apply late fees by the 5th, file court documents by the 10th and don't look back.

Not that many really. I lucked out as the first guy I connected with helped me bundle all the deals with the other sellers into one contract. I called him and he came to the table with everyone else like a cattle call. Never seen anything like it. I then picked up one more last minute deal, so 10 deals bundled onto two contracts. I have another 7 in the works that I was hoping would have closed already as well, but that gives me a chance to lock them down this month, with maybe another 5 I'm hoping to get callbacks from as well. Fingers crossed!

Signed the last deal done in March, today. Over $1,050,000 worth of deals done last month. Going to try and see if I can keep it going for April. 

Like everyone else said, slowdown man. There will always be deals, so you not missing anything. This game has winners and loser, losing normally means bankruptcy or taking a huge write down. Always play it safe!