All Forum Posts by: Linda S.

@Nathan Holt,

Keep social media light and positive, share  cute puppy pictures, funny tiktoks  and neutral topics.    Everyone has different opinions, and that's okay-- actually it's great, it what makes the world unique!    

 When it comes to being a landlord, if you chose to share on social media-- again-- keep it light, share the beautiful after pics!    You won't ever  "win" a discussion on social media, just going to piss off the other side.     If they are your friends, always be respectful.   If they are your close friend, private message and talk to them.. if they aren't a real friend, then de-friend away!

No one understands what it's really like to be a landlord--  unless you are one.  Lean on BP and your friends who are landlords to vent or talk about landlording topics, regular friends will NOT understand.  People often think it's unfair, like --why did you get lucky?  My personal favorite is when someone told me "you must have a rich husband."  People are a*sholes, welcome to life!

@Michael Nahm,

Watch @Nathan Gesner's video, it's 100% accurate.    The only thing I will add, is that it's not prolonged decades of smoking that destroys walls-- it can be  A COUPLE OF YEARS of allowed INSIDE SMOKING.  We had one inherited tenant-- the prior landlord said "Smoking inside is okay, you just have to wipe down the walls (IDIOT!)" and let me tell you, the room she smoked in for less than 3 years was BROWN/BEIGE.    The bathroom and guest bedroom where no smoking happened were  white walls. That's what it looks like, it's gross, and you will 100% have to do a primer  coat and then re-paint.   

That being said, if you do C/D properties, from my experience-- most people smoke.       I've found 95% of  units must be repainted with turnover if someone lives there +6/mo--- smokers or not.  In ones where people smoked outside, it didn't require primer, but again that's my experience.  So maybe I will be the outlier, but I wouldn't make this the determining factor.  Make it clear about it being a non-smoking house, and the fees associated-- I tell people straight up-- "if you smoke inside, I end terminate the lease."       Chances are, you'll just pick someone who says they didn't smoke and will smoke outside.    Look at the big picture, and what's most important to you in a tenant.   You can tell a lot with how someone presents themselves, communicates, and their history.  You can also do check ups, you can't hide the smell IMO, and another obvious thing is to move a picture-- you can't hide damages.

@Vicente Vitela,

Personally, I think they're selling a dream, and why should you pay money for what can easily be found on BP or through networking?    I say go to the LIBRARY and rent some books for FREE, read maybe 10-15, listen to podcasts, educate yourself, and then see if you feel like you need to spend thousands on mentoring?       If you go to the local meetings, and just state that you're looking for a mentor, and want to help them however you can--  this is worth WAYYYYYY more because they'll be able to help you with contractor recommendations help show the ropes!  

People who have done this a million times find it to be easy (and not to mention are probably the best at it!), and especially once very successful, are willing to help new investors!

@Eric Bilderback,

Everyone wants to class people by age groups, but I think it just goes down to  individual personality/drive.    Sorry, I don't buy it and not subscribing to the  pitty party.   I got a house for $18K in December 2021, so the cheap houses do exist still! 

I see plenty of people in their early 30's and 20's hustling and making deals happen.   They make a name for themselves and are making tons of money!   Of course I see a ton more sitting comfortably not taking risks on the sidelines, but those that do take risks are often rewarded.  I think if people really have a drive to be successful, they will.     Those people who are complaining about housing not being affordable in are the same ones that think moving to the mid west is below them.   It's often the entitled people of all generations that think stuff is too good for them.  It's the entitled crap that bothers me most-- of all ages!

My sister is 41, a licensed  dentist  from an Ivy league school--who is now on a food stamps living at home with my parents and decided she doesn't want to be a dentist anymore.  She has $100K + in student loans, but she choses to be lazy and instead milk the system for welfare benefits.    I even asked her to come work with us one day, she told me she was "too good for it."  Lazy is lazy IMO. 

It's not a generational thing, it's a mindset.   

@LaDonna Davidson,

To my knowledge (not a lawyer)-- who you associate with isn't a protected class, and we ALWAYS check social media for clues to see what that person is like-- who they hang out with, what they find funny, what they support, etc.   Just a bit of landlord advice-- do NOT EVER TELL THE PERSON WHY you are rejecting them, it's a no-win situation for both parties.. the rejected tenant is still rejected, and you open yourself up for being judged on your criteria.  Always be professional.

@Chris Svendsen,

Quick answer-- yes, the majority of our homes are nicely renovated, and heck if I were my tenants-- I'd pick my houses too!  lol

People who manage in the warzone areas deserve an award/praise-- they're doing what 99.99% of other people don't want to do!     Everyone needs a home!    Until you walk in your friend's shoes, don't judge-- you have no idea what they have gone through, or why they manage like that.     Ask them--  I guarantee they will have stories that will surprise you!

@Mahmuda L.,

First-- know your state laws on screening and what you can/can't do.     

Second-- IMO it completely depends on the property, if it's a C-/D area, we do no evictions within 3 years-- and put a lot of emphasis on job stability.     If you're doing A/B properties, sure no evictions as it's a different renter.    I say look at the person's history-- do they have a history of getting in other trouble, or was it a 1x issue such as a medical incident?    I always look for trends, and check social media to see who they are.    Again--- it depends on the property, if it's a low income area, I mean-- people need to live somewhere!   I have also seen landlords change double deposit for  having a recent eviction.   IMO evictions/nonviolent felonies shouldn't be a life sentence, but if there is a trend of activity, don't be an idiot and think you'll be the exception.  There are options!

@Edward Zachary Samperio,

If you do it-- you would write yourself a check and do a balance transfer, which isn't a horrible idea since it's normally 3-5% origination fee and 0% interest for a year.    This is ONLY smart if you plan to pay it back within a year, if not-- they will put every single of a penny at like 25% or whatever your rate is--  on top of your loan and it will be a horrible  and expensive decision.  Be aware, that will might make your credit go down, and if the banks finds out-- they may not back your loan.

@Michael Nahm,

Yes, applications are expensive.   We only charge $30 for the background/credit check through zillow, but it's not uncommon for other places to charge $75-100 per person.   It's part of the game. One of my tenants that turned south and we ended the lease was complaining that he spent "over $300 just on applications"  so it is what it is.   That's one of the reasons moving sucks!  

They are avoiding you because they DO NOT HAVE THE MONEY.   Let actions speak directly and clear-- they are avoiding you because they lied, they don't have it and don't want to look stupid.   Why in the world would you want to move forward and sign a lease?  This is an immediate sign they will be PITA and stressful tenant!   

We accept applications up until we sign a lease with the deposit.   The  deposit shows they have skin in the game, and if they flake out-- you at least have a month to find another tenant,  and yes-- this has happened to us before, so it's important.  My advice is to let their actions speak clearly, actions show you who the person will be like to work with in the future.   It sucks that applications are expensive, but that's not your issue-- don't worry about it, and focus on finding the best possible tenant!

@Shane M.,

The quality of the schools will tell you about the area.   If it's a blue ribbon/top public schools, it's like a A/B.    If it's middle ground, not best/not the lowest-- it's probably B/C-.   When you to get to the school ratings of 1/10-- you're in "D" territory!   Schools dictate demand,  you can have an outdated house, but if it's in a good school district, it will be an easy rental!   Good schools will have more owner-occupied houses, and will be nicer neighborhoods. 

Another thing you can do is to look up s*x offenders, in the A/B areas you won't see them, but in the C and especially D/warzone areas-- they will be plentiful.  I mean-- they have to live somewhere, but it shows lower landlord standards.

I used to say the price would dictate it, but that no longer holds true... I see houses for rent at very high prices, even in C/D areas-- due to the demand, everyone is charging a ton now, so don't let price fool you!  Same with the purchase price, everything is expensive now!