All Forum Posts by: Patrisha Leybovich

@Christopher Davis Thanks so much for the shout out! Helping you guys find the perfect house hack was a pleasure.  Good luck, I know you guys are going to kill it!

I do it all the time. However, I suggest you know your market and the general climate of the neighborhood. Where my rentals are, the neighbors would not sit by and allow their neighboring apartment to be vandalized, or the appliances removed. Depending on where your units are, you may be well advised to do differently! 

Why are you opposed to hiring a good RE lawyer to draft a state friendly contract for you and educate you on what the verbiage really means? This is money well spent. It's called education. Get some! 

Rehab the one next door and offer to move him over to market rent, plus a monthly pet fee. People are willing to pay for their pets.  People who aren't willing to pay monthly for their pets usually don't take care of them, so they weed themselves out naturally in the application process. 

Consider a 1031 tax exchange. 

In OH and AZ its different. I'd check with a lawyer to be sure for your state, but where I have been if I buy a property built prior to 1978 whereby there have been no records of lead paint on the premises, then I am able to continue to check the boxes on the disclosure that I have no knowledge of lead based paint. By law, I have to give my tenants a lead-based paint disclosure, and a pamphlet about lead-safety. I am not required to test for it to rent. If I make full disclosure and provide the pamphlet, then it's the tenants choice to assume the risk... 

Personally, with a property of this age you may have more expensive issues than lead removal. Just saying.

You have to disclose that you are a licensed RE agent in the state of AZ, but that's all. You can add the FFH and ADA logos for good measure. Just be sure you aren't advertising your services as a realtor, or you'll need your broker's approval on all marketing materials. Otherwise, fine print disclosure of your status should suffice. It's always a good idea to have you broker take a look at what you produce to keep you on the safe side. After one or two go-rounds, you'll know exactly what's allowed and what's not. Really not a big deal, unless someone decides to try and nail you for something...

Those sites are crap and a waste of your time. Do yourself a favor and hook up with a good RE agent who will set you up on some subdivision searches for MLS rentals. This will keep you accurate. Second - Stick to checking craigslist, etc. for real-time rental feedback.

AND ALWAYS DRIVE THE HOODS AND CALL FOR RENT SIGNS!

Then you'll know for sure.

Best advice I can offer is to be sure you've set up your systems for follow up. Once these properties enter your data base you've got to keep on them until they sell to you or sell to someone else. You want to do your best to ensure they sell to you. You'll be wasting precious time if you send them 2 or 3 letters and then drop them.

Check out @Ben Leybovich course CFFU. (Yes, he's my husband. Its based on our own experience getting started investing in RE when we had absolutely nothing. We had to use a ton of creative finance to get started, and yes, it costs money but sometimes you have to pay that money when its your only way in the game. Good luck!