All Forum Posts by: Rob Beardsley

@Dong Yan it is a common tactic to find properties mismanaged and where the owner is paying for utilities. Depending on the market, it shouldn't be a major issue (no legal problems) to change the lease agreement to tenants paying for utilities. If you want more help about this, I would call up a local property management company in the area.

@Jay Hinrichs - HAHA! $3.5MM sure would be a steal now. 

I would have to agree. I am pretty sure you are still personally liable even when your LLC is on the loan. Only big time commercial non-recourse loans relive the personal responsibility on a loan.

I think the additional risk you place on yourself by transferring the loans to your name is minimal. I think you would sleep a lot better at night knowing that your rate is fixed. But it is really personal preference; would you rather stress about rates or about your personal credit. I'd be interested to hear your thoughts on that.

The laws of capitalism and supply and demand should sort this out eventually. However, if you believe in the future growth of that market, this would be a great opportunity for you and fellow LOCAL investors to buy these distressed properties and turn them around! 

Good luck!

Hey Dong,

You should definitely try to get the rents up to market anyway possible. If raising rents causes the current tenants to vacate, this could be a blessing in disguise as it gives you the opportunity to potentially fix up a unit and get a new great tenant in there. 

One thing to be cognizant of when dealing with a duplex: great tenants are everything! A couple of turnovers could kill all of your profits so spend the extra time and care when screening for new tenants if you decide to go that route.

Best of luck!

Hi Jim, you can check out this website which explains the best way for you to get this hassle of a tenant out of your property. 

https://www.nolo.com/legal-encyclopedia/how-evicti...

Additionally, if she has been a bad tenant, I'm sure you can find something she has done to use against her as a violation of the lease which gives you automatic grounds for eviction.

Best of luck! I am going through a similar situation myself and it is quite the headache. 

Hi, congrats on deciding to go your own path and starting a PM company. While I don't think a broker's license is necessary, depending on the state, you may need to get a certain license associated with PM. A quick google search about Alabama's laws should help you out. Good luck!

Wow this is fascinated! Amazing to see the new technology of blockchain incorporated into the business of real estate.

Cleveland is a very favorable market depending on your investment thesis. I would say the stagnant population growth is more of a representation of the whole world. Sam Zell for years has been saying that the world has a lack of demand.