All Forum Posts by: Shane H.

I'd tread lightly... Be very weary if he ask you "does this rag smell like chloroform to you?".

i usually tell them them that i have a cold and can't smell anything right now, i find that option works almost as well as calling local law enforcement as it's much nicer approach to the tenant.

If you do wake up and find yourself behind a padlocked closet door, just remember that his lease expires at some point so he'll have to let you out eventually.

Best of luck! =)

But in all seriousness, this is not something you should treat lightly. And do please be careful when working with a tenant that feels like this is normal behavior. 

Do you have any Before pictures you could share? And where's the beach? =)

Hi Caleb! It looks like you are on the right track to start in RE.

Some institutions offer an unsecured line of credit that you qualify for by having a 1:1 ratio of liquid cash in the bank. once you have the LOC you can still use your own cash. It's a great way to double your money. There are plenty of loans that require you to "lock" the money as collateral for the loan/line which i don't suggest you do as it wouldn't add any cash to your situation. You'd just lock away your deposits and replace it with a loan which has very limited purposes unless you're trying to build credit. So make sure whatever loan you find only requires that you have the cash available and does not require that you use it as collateral.

I would definitely advise caution though, if you're estimating you need $50-$55k then make sure you have 1.5x that amount so that you have a buffer for the unknown and unexpected.

I like that Renee! I could set it up for sub tiers and customers vs Jobs. I just ran with the default and haven't had to set it up for any larger units yet, just 4 and under. But it is definitely something I will try out. Happy Halloween! =)

My tip: Don't forget about bi-weekly payments. I have a tenant that has a monthly rent of $750 OR $375 every other week. She is aware that by going with the latter option that she pays an extra $750 a year, but she loves it as it helps her stay budgeted. I love it because it equates to $812.50 a month instead of $750. 

 HA! Oh come on Dennis, you aren't fooling anybody... You don't have boring nights =p

You confuse me Thomas, sometimes you give some of the best, straightforward advice on this forum. Then other times like this I can't help but scratch my head and wonder if you're serious, in which case this is really messed up. Or if you are just saying what you'd like to do. I don't care who someone is or what authority they have, I would lose my **** if I found out that person willingly tried to destroy my property, or in this case let something i love out into busy streets to be lost or stolen forever.

You have every right to discover the lease breach and serve a cure or quit, or start to evict. But I really hope you don't let their pets outside and leave it up to chance that they get them back. 

 Agreed, use that savings to increase your W2 income. I'm not going to say getting into RE is impossible at $20k a year, but you will increase your success rate exponentionally if you can move that needle up a bit more. Not only just for qualifying for loans, but for covering the unknowns that come up with owning and buying RE.

Haha I agree, if they are getting in a pissing contest over something as small as reference checks, especially this early on, then you'll have nothing but more problems from them going forward.

I especially like what @Mike Cumbie wrote as it couldn't have been said nicer than that, but you also have the hidden jab in there too.

Best of luck,

QB is absolutely amazing and such a time saver once it's been set up. I use it for my few rentals in addition for keeping books for other Landlords in my area. 

Once you set up your classes, your unit's as customers, and your tenants as jobs, then you will not believe how easy it is to track everything and how useful the reports are.

If you need any help feel free to PM me.