All Forum Posts by: Michael Plante
Michael Plante has started 69 posts and replied 2369 times.
Post: A tenant threatens to sue if I do return her security deposit

- Deland, FL
- Posts 2,434
- Votes 1,875
Very doubtful she will go to court
don’t won’t about things until it happens
Keep the deposit document why and send her notice. Your management company doesn’t handle this?
Post: Need advice: Taking too long to find renters

- Deland, FL
- Posts 2,434
- Votes 1,875
Quote from @Cecilia Ann Jones:
@Michael Plante it's Baltimore, Maryland. The neighborhood is called Canton.
Post: Need advice: Taking too long to find renters

- Deland, FL
- Posts 2,434
- Votes 1,875
Quote from @Matt Bishop:
@Cecilia Ann Jones, i looked on Zillow and searched for 800 south Ellwood in Canton, Ohio and says Location Can't Be Found.
Post: Crappy house / Great location. Can I still get a loan?

- Deland, FL
- Posts 2,434
- Votes 1,875
Go for a land loan
Google farm credit or farm credit union
Post: Experienced Investors Who Have Hit the "Pause" Button Recently

- Deland, FL
- Posts 2,434
- Votes 1,875
I understand pausing now what with all they is going on
BUT pausing in the last 2 years you lost a TON of profits
Why did they pause?
I truly think they lost out on at LEAST doubling if not tripling their money by pausing in the last 2 years
Post: QOTW: What are/ were your first steps to scaling your business?

- Deland, FL
- Posts 2,434
- Votes 1,875
My scaling was going from $90,000 in 1 year to net before taxes of $1,000,000 flipping houses and land
I stopped doing all the work myself
I found a real estate agent who found the deals instead of me doing all the searching
Post: How I went from a white lie to 300+ units in 1.5 years

- Deland, FL
- Posts 2,434
- Votes 1,875
Congrats on changing your life
I think it would help others to know more specifics
what percentage of the 300 units do you personally own?
what is your yearly income compared to your six figure job income?
If you don’t want to say I completely understand
Post: Five SFR's but struggling to scale up

- Deland, FL
- Posts 2,434
- Votes 1,875
For me I would only buy value add properties
fix them up, increase the rent pull out some cash
Or flip houses to get cash for the next rental faster
i also prefer the longest loans possible. They gives me higher cash flow and increases my cash faster so I can do the next deal
Post: Good Time to Get Into STR

- Deland, FL
- Posts 2,434
- Votes 1,875
Quote from @Andrew Merritt:
@Michael Plante haha yeah, I have this in the back of my mind too
Post: Good Time to Get Into STR

- Deland, FL
- Posts 2,434
- Votes 1,875
Quote from @Andrew Merritt:
I have several long-term rental properties and am looking to get into STR. Interest rates are going up, but that can be baked into the price. My main concern is the looming recession, in which I would think that people would cut back on vacations and non-necessities. Is this a concern of anyone else in STRs at the moment?
By the time my chauffeur buys an investment I have already sold and took my profits
I think this quote is poignant in reference to STRs