All Forum Posts by: Robert Lindsley

Thanks for the offer @Rick Santasiere.  I’ll see if I can find an investor-friendly real estate agent who doesn’t mind making multiple property offers to have a discussion.  Seems to be a little but of a unicorn lol!

Thanks!
Robert.

@Account Closed Thank you so much for your thoughts - it sounds like you already know this tenant because you’re describing him perfectly.  I imagine you’re right about the eviction and at the end of the day it will cost me some money, but at least I’ll learn the process and how to better screen tenants (I inherited this one).

If you ever get up to Boston let me know.  I’d love to take you out for a drink!

Hello @Harmony Matson.  Welcome to the community.

I started my journey by listening to a ton of podcasts and research on the internet.  I checked out flipping, getting my RE license, buying low-cost homes in rural parts of the country, investigating mobile home parks, etc.  I eventually landed on buy-and-hold multifamily properties. 

As you start your journey you’ll most likely go a different path, and land on a different type of investment that appeals most to you.  That’s kind of the thing about real-estate, everybody’s journey is different, and there’s no ‘right’ way to do anything.

Biggerpockets is a GREAT place to get started.  There are amazing people here, willing to help and support you wherever you go.  Good luck, and feel free to reach out directly if you have questions.

Robert.

@Stefon Bostick There are programs out there to get people started with flipping and even provides the money to do, assuming you have the right deal.  Check out Josh Cantwell’s Program - I think it’s called 40K Flips.  Even if you don’t decide to participate in his paid course, there is tons of great information.

Also try to find a mentor in the space you want to get in.  I’m sure there are tons of mentors in Houston that would take on a new protege.  You would likely need to give them a big chunk of your deal but it would be great training.

@Charlie MacPherson Thanks for your thoughts.  Dual agency probably isn’t the way to go.

I’ve only bought one apartment building so far, but I’m pretty clear about what I want as well as what I’m negotiable on vs not.  I imagine I could work with a sellers agent just fine, but I guess we’ll find out soon enough!

@Chris Mason Not taking advantage of anybody...just trying to put deals together that work for everybody.

@Steve Vaughan Thanks for your thoughts - I will add that to my LOI. Having the right to bring in an agent makes a lot of sense. Ideally you wouldn't need to, and get the advantages of that. But ultimately it gives you the option if you need it.

I'll keep you posted on how it goes. My goal is to acquire apartment buildings via seller financing and do a portfolio loan in a few years before the balloon payment hits (around 5 years out). As long as the numbers work, I don't care if I find the buildings on MLS, Craigslist, or somewhere else.

Thanks!
Robert.

Thanks again for all your thoughts.  The violations have been due to the dogs going onto the neighboring property (a dentist and a psychiatrist) and scaring people.  They are nice dogs, but they’re so big and intimidating that it’s not hard to imagine somebody hurting themselves trying to get away from them.

The tenant is on a month-to-month lease and his tenancy can be terminated for any reason.  I had the Marshall serve him papers on 7/13, so he has a couple more weeks to move out before I would need to start any proceedings.  

So far it’s been civil, but he’s a hothead and originally threatened that I will need to evict him.  Hopefully it doesn’t come to that, but he does have two evictions on his record already so it’s not out of the realm of possibility.

Thanks @Kathleen Leary for your suggestion for the lease.  I will add that to all my future leases.

Robert.

Hi Michael,

I would love to meet up but unfortunately I'm traveling and won't return until after you leave. 

Hopefully next time!

Thanks,

Robert. 

Hi there, I'm getting ready to make a few offers on properties in Connecticut that have sellers agents, but I do not have an agent. How do I go about doing this? Do I work with the sellers agent directly? I'm not sure about CT, but maybe they can serve as a dual agent? I don't know any agents in the area and was able to buy my last property in that area without one (in that case neither me nor the seller had an agent). Plus, I imagine that most agents will view my offers as a waste of time (low offers and I'm looking for seller financing). Looking forward to hearing your thoughts! Thanks, Robert.

Hey there,

First off, thanks everybody for your thoughts. This thread really made me take a step back and look at my priorities.

The tenant is on a month-to-month lease and I have the ability to end the lease with 30 days notice without cause, which is exactly what I decided to do.

Because of this tenant I was kicked off my old insurance policy.  The only policy I could find that would cover the building is a surplus-line, non-admitted carrier in CT.  The policy is more expensive and will *not* cover the dogs.  Frankly, this alone left me no choice but to terminate the lease.  

Once the tenant is out, I plan on going back to my original insurance carrier.  I feel bad for the tenant, but I can’t put my business and my family at risk because of an irresponsible pet owner.

Thanks!
Robert.

I found a multifamily property on Craigslist FSBO. I didn't have an agent and neither did the seller. We figured out all the deal terms on the phone (including seller-financing) and then we brought the lawyers in. Once the PA was accepted I brought the inspectors in and we closed on the property — easy peasy!

WAY easier than bringing a bunch more people into the deal.