All Forum Posts by: Samantha Klein

Yeah if you have to make a thread just to ask what the point of investing in real estate is, you need to spend time on this site and educating yourself. If real wealth wasn't made investing in property, do you think so many people would be doing it? It is not easy just some make it sound and it is not for the faint of heart but with a good education and strong motivation, it pays off!

You've been training this tenant to be exactly how he treated you. You aren't enforcing the rules in the lease in regards to late fees and I'd put an absolute stop to that. The way he treated you in this situation,  I would certainly not forget it and the first opportunity I had to evict him, I would without a second thought. Life is too short to deal with unreasonable people. 

Find someone you trust with excellent credit and see if you can be an authorized user on their credit card, or try and get a secured credit card.

@Jamie Brayton I would find a new accountant ASAP. His thinking is not an investor-wise thought. My rentals with leverage return me 15-20% COC average, and my interest rates are 4.5-5.25 on my mortgages, now why would I want to pay cash when I can borrow at such a low interest rate, locked in for 30 years and make 4-5x more than the interest rate paid to the bank. Find a RE savvy CPA.

If you went 11 months without rent and you just now are noticing, you should rethink being a landlord. I don't sign leases without getting money upfront with them. 

Many of us here use mortgages (good debt) to build our wealth faster and highly recommend it. Why would you not want to take advantage of the cheapest money available?

As an investor, it's one of the smartest things you can do. As long as your not leveraging yourself too high and buy the right properties and by that, I mean run all of your numbers and be somewhat conservative. 

See if they can stay with family and forgive rent for the days they can't occupy the unit or if they don't have the option of family, if you want to be generous and caring, pay for a hotel room for a week or two.

If he passes your screening then add him to the lease, another person to go after in case things go south.

If they made a mistake and you owe the money, I would pay it before you get your credit ruined with a judgement. 

Does the deal still make sense with you paying half? Are you willing to lose the deal over $650? Only you know those answers but if that's the biggest problem that the inspector found, your probably in decent shape.