All Forum Posts by: Noah Bacon

Hey Bill, 

Welcome to BiggerPockets and thanks for joining! I'd check out Raising Private Capital by @Matt Faircloth to help get your education started on growing your business with other people's money!

Hey Greg! Glad to hear your positive experience as well from the vendor side. I'm not sure I quite understand your question. I just sent you a message if you'd like to discuss!

What an unforgettable experience and what an honor it was to meet so many of you!

I have been to a few big conferences, book launches, and numerous local meetups, but nothing can even come close to BPCON 2023 in Orlando last week. The amount of likeminded attendees who have come from similar backgrounds or journeys to begin their real estate investing careers really helps an individual in this space find a place they can call home. There is not a better place in the world for an investor to find the right community, resources, partners, and passion to get them started in the right direction. 

The power of networking was put on full display as one of the biggest takeaways from the event was showing that your potential is unlimited with the right team and goals in mind. From structured breakout networking sessions to quick business card exchanges in the hall ways of the hotel, it seemed every corner you looked there was a business plan or partnership forming right in front of you creating a sense of urgency to join the crowd! 

If you are on the fence about attending in the future, as I have been in the past, let this be your inner voice telling you to absolutely attend the next BPCON. I can honestly say I have added an abundance of impactful investors to my network and had some of the most beneficial conversations to propel my investing career in the right direction, in just a 3 day span! DeVon Kennard wrapped up his session with a quote that will resonate with me throughout the remainder of my professional career: "If you want to go fast, go alone. If you want to go far, build a team."

I am a very small fish in a huge pond, but the impact of my first BPCON has provided me with an even stronger sense of community built into my personal portfolio.

Here's to meeting at BPCON2024 in Cancun!!!🏝️

Hi Kenny!

Have you tried looking at BiggerPockets Tax Partners?

BiggerPockets can help you find an Investor-friendly CPA or Enrolled Agent to help you maximize your tax savings potential.

Hope this helps, and please reach out with any questions you may have!

Hi Bo!

I moved you post to the Classifieds, where you can start "looking for" or "offering" type of discussions! 

You actually wouldn't be changing the lease by allowing them to go M2M, instead think of it as an extension of your current lease (12months + the remaining M2M months). A tenancy-at-will arrangement occurs when a tenant occupies a property with the landlord's permission without a formal written agreement in place between the two parties. I wouldn't recommend allowing the agreement to follow in this direction if you are consistently dealing with late payments.  

Do not accept the security deposit as rental income. As you have stated above, there are potentially numerous outstanding balances that the deposit is in place to cover. 

If you decide to renew the lease, do not accept partial payments if you have started the demand process and consult an eviction attorney. 

With uncertainty of the unit condition and short notice on an extension I would be skeptical. You can outline what the rate of a month-to-month lease would be for the tenants so they aren't starting a new short term lease that would put you in violation of your mortgage. Instead, they'd be rolling the same terms of their current lease into M2M with assumably a higher monthly rate. 

If rent is due on the first of the month, prorate the last month of rent. If the lease is up on 10/16, you should be expecting $645.16 in prorated rent for October. 

The tenant should be responsible for utilities until their last day of tenancy. The tenant won't be "shutting off" the utilities when they call their utility providers. Once they call to discontinue service, the utility company should revert the meter back into the landlords name. This way your utility service will not be shut off unless notifying the Landlord!

Amazing job thinking about tackling the supply shortage in your mobile home park portfolio!

How are you able to more than double your space capacity? Did you have undeveloped spaces or acquire more land? I am very interested following this project!

Hi Jill!

Have you tried looking at BiggerPockets Tax Partners?

BiggerPockets can help you find an Investor-friendly CPA or Enrolled Agent to help you maximize your tax savings potential.

Hope this helps, and please reach out with any questions you may have!