All Forum Posts by: Eric M.

@Ben Leybovich, don't you feel that the issue is less of the loss of income and more that fact that the PM disregarded his instructions? Since you already have more experience than I have (and likely more than I ever will have), I'm curious to know how you would have handled one of your property managers totally disregarding your written instructions like that? 

If that happened to me, I would be pissed and would be looking for a new PM.

@Aaron Mazzrillo, I also really enjoyed his BP podcast. What does he want to talk to you about? It seems like being on someone else's podcast is a great way to market yourself and set yourself up as an expert. If I were in your shoes I would pursue it as it is may potentially bring some business your way.

@Thomas S., you charge late fees to the estates of dead tenants? Whoa.

@Chad Tate, I also am a big Dave Ramsey fan, however I think that the power of leveraging is too big to dismiss out of hand. He says on a daily basis that what people fail to do while considering the cost of debt is to "factor in risk." He is right, however he takes the exact opposite approach and gives risk an infinite value which also is not realistic.

I have personally decided that I will be debt free and live in a paid for house, though will leverage my investment properties. The way I see it is that I would not have been able to purchase my investment properties without the leverage, so if they are foreclosed on or lost, I am not in a worse position than if I had not purchased them in the first place.

Good luck

@clayton_morris is a huge fan of this strategy. You can see his write up of it on his website at http://www.claytonmorris.com/blog/2015/7/20/how-to....

There is a three story house with Cedar siding which has a dozen large woodpecker holes. Anybody know anyone in Eau Claire who can help fix them? Some of them are 25 feet off the ground or else I would just do it myself.

It looks like everyone is stating that you should keep their security deposit. I would make sure to check your local laws on this. There are often only very specific circumstances where you can keep a deposit, and sometimes there are triple damages to pay if you withhold it illegally.

@Scott Schultz, does that change your mind about investing in Wausau? I think I saw earlier that you avoided Wausau at all costs because of their extra fees and hurdles

@Mark Strobel, what are the new laws? This sounds fantastic

Is it in Wausau itself, or one of the surrounding communities? Wausau has extremely high taxes and also has some fairly onerous regulations and fees on landlords. I would look at surrounding cities of at all possible