All Forum Posts by: Nicholas L.

@James Gates I just saw your BRRRR thread; congratulations and thanks for taking the time to post the details! One question - I believe it was an all-cash purchase, but did you have any non-financing holding costs during the rehab (taxes, insurance, anything else)? It seems like financing, re-financing, and holding costs get excluded from BRRRR calculations, and I wanted to see what your experience was. Congratulations again - very inspiring post.

Hi @Ron Richter I recommend the Mid Atlantic Summit in Philadelphia, I attended last year and it was excellent.  No pitching, and lots of prominent BP folks were there.  There is also another thread going on BP about top 2020 events.

Hi @Santiago Scort I use Zillow Rental manager to collect rent (but not to screen) and it works fine.  One downside is that it does not allow you to change the monthly amount or accept one-time payments, so it really only works for rent, period.  If your tenant needs to reimburse you for something (or vice versa) or you have to pro-rate a month, there is no way for Zillow to handle this (at least that I am aware of.)  I have not used Zillow's screening service but there are lots of threads on BP comparing the various online screening services.

The Mid-Atlantic Summit of 2019 was excellent.

https://midatlanticsummit.com/

@Sawyer Smith I've actually been thinking about this same topic recently, with an emphasis specifically on something you mentioned - "cut down on vacancy."  Assuming your tenants already pay on time, what's the best way to incentivize renewal?  One idea I am thinking about is offering a small discount on the first month of rent each time a tenant renews, possibly with a larger discount for a multi-year renewal.  There are a couple of great BP threads on this same topic - here's one from a couple years ago that was particularly interesting:

https://www.biggerpockets.com/forums/52/topics/422047-do-you-reward-your-residents-at-their-lease-anniversary-if-so-ho

Hi @Linda D. yes, Matthew Desmond was interviewed on "Fresh Air" I think early last year.

Has anyone read "Evicted" by Matthew Desmond?  I thought it was a pretty even-handed portrayal of the situation.

Hi Chris - I will be there!  I found a thread in the BP forums from about the same event 2 years ago - and it sounded like fun to me.  I bought the Groupon for $39.

Anyone going to this?  

https://www.realestatewealthexpo.com/expo/nynj

If Pitbull can't teach you real estate, then who can, you know?

Hi all - I have an interesting situation with my first Homepath property (a condo) and I am hoping to get some advice.  In the process of making an offer (but just prior to submitting!) we discovered that there is a major structural issue that was identified in 2009 and has not yet been fixed.  I am still interested in the property but given the scope of the repair, I'd like to get a couple of estimates from contractors first so I can factor them into my bid.  My concern is that during this process someone else might bid.  I am assuming that, given the parameters of Homepath, there is nothing I can do and no way to negotiate this into the contract, but I wanted to see what others thought.  Thanks!