All Forum Posts by: Rose White

@Robert Smith hi Robert, did you have any clause to breaking lease on the contract?

If so, thats what you should follow.

Otherwise, you could speak to a lawyer about keeping the deposit or whatever rent amount you need.

We had our lease to where it was 1 year but if no one says anything, it renews automatically for another year. We found our current house to purchase but it was sooner than the lease term. We paid until verbally agreed date (lease started in june but we purchased our house the following march, and we paid rent until may since we agreed verbally/text). We already had mortgage amount we had to pay that wad higher than rental amount but we still paid. It was the “right thing to do”.

Also to add, whether a person loses their job or not, you have things to collect as a landlord, and they have things to pay as a tenant.

Hi Alex 

- charge 5% late fee for the original rent amount 

- can you put this tenant for auto payment plan potentially? 

- I would go through their social media to confirm if the death case is real...... 

HI Evelyn, 
like everyone mentioned already, college degree doesnt seem to be mandatory for real estate. It would look good on your paper and would look "better" when you introduce yourself to future clients that you have million things to back up your real estate license, but certainly don't need it. 
with real estate, you have to have good communication skills, understanding situation and how to handle it(problem solving), know how to control your stress, learn how to take care of clients under stress, analyzing, CALCULATION (like mentioned on thousands of bp podcasts) and network well. 

I also personally would support this with saying that you dont NEED college degree to be successful with desk jobs (certain ones, you may  - like software engineering... working for most of fortune 500- you know what i mean) but I also say this because all i had was passion and drive to learn and was able to get/keep desk jobs in the past. 

dont feel obligated to go through school but just know that this is what you want to pursue and want, and everything will fall in place for you. 

Good luck and I wish you all the best :) 

Hello, Victor - 

so it cashflows around $168/unit, right? 

I think you should look into properties nearby and do some comps for fourplexes to see if its worth the rehabbing. 
yes, rehabbing will take more time and energy, but if the return is there... wouldn't it worth your while? (i would) 

Also, if rehabbing the whole property at once seems difficult, you could do unit by unit after the purchase. Send out a letter to the tenant to let them know you are the new landlord/owner of the property and you want to assess each unit to see if there is any fixer uppers needed and you'd potentially raise rent. After that, create an agreement contract around the rehabbing inconveniences for the tenant(s) to let them know there will be people coming in to fix things one or three at a time. 
Also, if the tenants dont agree with rehabbing inconveniences after the original agreement, i'd move to next unit and etc- if all tenants don't want you to do anything, you can either keep it the way it is... or ... kick them out and start the rehabbing process anyway. lol - after all, its your property! 

Just remember to do the CMA before deciding to rehab!

Good luck! 

Hi Paul, 

nice to meet you! our firm can help with all of those mentioned things. 
Would you like to take some time to chat with us? we can connect as well :) 

Wish you the best! 

HI Michael, 
 it might depend on how long ago that criminal record is from.  (i learned this in the class for GA licensing.... ) 
The law regarding charges for agents is more lenient than applying for broker though 

Hi Rashaan, 
you can attend meet ups in your area and network. You will run into many successful individuals who went down the path, then you can introduce yourself and ask if you can buy them coffee to pick their brain. ) If they seem to know all the answers to your questions, you could ask them if you can help them out with any future transactions 

or you could do BP search and stalk someone who's an investor in the area you're interested and look at their profile and read through the responses they've made lol 

good luck and whether that first deal is good or bad, it's learning and executing more :)

Hi Jack! 

I am SOOOOOO HOPING you have something in place for "unlawful/unapproved" pet residency in place in your rental contract. (in case the tenant tries to sue you for taking money out anyway)
Nonetheless, since you DID have that payment is owed for having a pet in the contract, the non refundable pet fee should still apply.

Hi Jennifer, 

Me too! i am an agent as well! i will be investing this year with my husband as well.

nice to meet you! 

@Andy Webb

Its under federal fair housing act.

Also- to reply to this thread,

I think you can say something along the lines of adults only if its senior living? I forgot exact words but if the neighborhood consists of 75% of +55 and over in age of owners, there can be some kind if wording like you mentioned..