All Forum Posts by: John D.
John D. has started 60 posts and replied 273 times.
Post: What is the longest youve gone with out rent?
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Originally posted by @Carlos Gonzalez:
I have a fourplex and I gave the opportunity to rent one unit to one guy 29 years old because he was persistent that he wanted to rent.
I didn't trust him he could pay the rent so I didn't sign a lease( he worked at a car wash 20 hrs avg) but I was willing to give him a chance because well, I wanted to get wiser. If he were able to pay the rent on his own for two months I'll make him sign the lease but not until then.
His mother paid for 3 months until she moved to Mexico and only paid 2 weeks of rent there after by EFT
I called him and text him that rent is due, he said next week he would have the money, I didn't believe him but still gave him a chance. Before the deadline I sent him a text that if he didn't pay by X day this week he needed to vacate the unit and that I didn't not want to involve the police in this matter so man up.
He didn't get the money so he vacated the unit.
I also inherited one tenant and I raised the rents right away and he told me that he couldn't pay because his wife this and that and he didn't have a job because this and that, in the end I found out he was getting financial aid through stamps and the government.
I told him they needed to be out by the end of the month and they did so.
If tenants don't pay they gotta be out of the promises. That's common sense to me.
As a landlord you need to be aggressive otherwise they'll play the system and you'll be out of rent payment for as long as they want because of "tenant rights". I just didn't let them.
"If you can't pay, you can't stay!!!"
Post: Help getting started
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Welcome to BP @Douglas Gasser.
Have you considered renting out rooms in your current residence? You may be able to have the folks that rent the rooms essentially pay all or at least a large chunk of your mortgage. In my opinion, this option becomes harder as we get older. Save up money from the 9-5 and think about what your next investment may be and make that your goal!
Hope this helps.
Post: Newbie in Surf City, NC
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Welcome @Jason Dixon
My son enlisted in the Navy in 9-16 and will be heading to Pearl Harbor on 4-25 as a Submariner. I've already planted the seed that when he eventually begins to look for an off base residence, he should be looking at it as an investment. Prices in HI are lofty though.
The Raleigh/Durham area is on our radar in NC. Looks to have some good opportunities.
Wish you the best of luck and thank you for your service!
Post: Should our 1st Time Property be an Investment?
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Back in the day, if I knew then what I am learning now...I would have house hacked and purchased a 3-4 unit and lived in 1 while renting out the others. Another possibility is to buy a potential SFH that you could rent out after living there yourself for 1+ years. In this case you'd possibly qualify for FHA financing and only have to come up with 3.5% down. (you can typically do this with multis as well provided you live there for at least a year).
Hope that helps and welcome to BP. Best of luck to you and your family!!
Post: New member from Easton pa
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Congrats on getting started and welcome to BP. There are a few meet ups in the LV as well as out in Berks county where things are looking up as well.
Heres a link to a monthly meeting that gets a nice turnout every month. Best of luck!
https://www.meetup.com/Allentown-Beginner-Real-Estate-Investing-Meetup/
Post: On the fence about Allentown PA
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
A lot of the MFs in Atown are in center city which like @Account Closed stated previously, can be seedy. Anything up to around 12th St is rougher than 13th St and higher. I don't yet own any investments in Allentown but I have not heard anything horrible about anything anti-landlord.
West End, Salisbury, parts of east side are decent areas. I like center city near the PPL center and any of the streets south of Hamilton St in Center City. There is also eventually going to be some development near the waterfront in Atown and I imagine that area will be desirable within the next 3-7 years.
Hope that helps and good luck to you in your search.
Post: First Rental Property Analysis!
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Originally posted by @David Sidharta:
Hi Jaron,
I am newbie so for sure I am not the right person to give any advise. But I would like to thank you if you can inform me how to get this analysis tool? Good luck with your first investment!
You need to have an upgraded membership. "Pro" is the way to go. Especially if you will be analyzing many properties. Its money well spent imho.
Post: Suggestions for purchasing my first 8-plex
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Welcome to BP @Chais Dean and thank you for your service.
I do not know the quick answer to your question but this link should get you in the right direction and some of our other service folk should chime in as well.
Post: 2nd Deal - BRRRR Strategy Using FHA On German Village Duplex
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Congrats @Robert Ellis. On to the next one!
Post: ISO wholesaling mentor in PA
- Rental Property Investor
- Allentown, PA
- Posts 279
- Votes 105
Welcome to BP @Alan Fichter. Love the fact that you have a realistic goal. Mine was similar last year as I wanted to get 2 properties under my belt or at least 1 duplex. I got the duplex late in the year and am now looking to get at least 5 in 2017.
Best of luck!!