All Forum Posts by: Tom O.

I'm using Stessa and it seems to do some of those things. It's free as well. 

It does give you a global view of your properties. 

I found lenders who will charge NO origination charges. You have one loan. Now go shopping. Try better.com: they advertise, no lending fees, no commission. 

Crexi. Loopnet. 

Form relationships with commercial multi-unit RE brokers in your area like Marcus and Millchap. 

Just from asking for the financials of listings on Crexi, I now have several realtors who send me stuff, listings for multi-unit buildings. 

I grew up in construction and learned from my Dad: "never let a contractor get a nickel ahead of you." 

Give them a small downpayment and let them get started and pay them for what is completed as you go. 

When I work with a new contractor, I start small. Let them do one thing and do it well. 

Go big or go home. Try a 4 unit or larger. You can HELOC or Re-Fi to get some of your money out to buy another building.

I just saw a duplex in San Antonio for $69K that will surely cash flow. That's incredible. Only an hour and a half away. Why not buy there? Obviously, if your area doesn't work, find one nearby that does. 

FYI everyone: King Trump's "moratorium on evictions" doesn't just stop evictions, it creates a federal crime punishable with up to one year in Club Fed for landlords who violate it. Be verry careful folks. Read more here from a savvy, knowledgeable attorney:

https://www.chicagoeviction.co...

It's really quite outrageous. It's one thing to say that Landlords should evict folks suffering from COVID medical or financial issues. But to make it a CRIME with up to ONE year in Federal Prison and $100,000 in fines for violations? That's insane. AND the tenants don't really have to be suffering from COVID anything; they just have to certify that they make less than a certain income and have tried to get financial help and will likely be homeless if evicted. 

Many (including me) suspect that large multi-unit owners like Trump and Kushner like driving small LLs like me out of business so they can scoop up our buildings on the cheap when we get driven out of business due to this moratorium. 

The great reason to live in your multi-unit for at least a year is to get the low down payment and low interest rate. You can live in it for as short as a year and repeat. Whether you should do that since you already own your house is a personal question to you. And if your area is too HCOL, perhaps look for another area within driving distance that makes sense to invest in multi-unit. 

I'm calling BS on this Don Konipol. Totally not true. Bush had to raise taxes.

Everyone knew Reagan tax cuts would lead to bigger and bigger deficits for the next 50 years, except that they led to budget surpluses within 15 years.

I am an attorney but not a NC attorney and this is NOT legal advice either. 

Why do you say Brando's advice is "bad" in your state? 

Why do you call it a strategy "outside of legal remedies"? And call it "self help?" It is not. 

A lease is simply a contract. If one side cannot fulfill its terms (pay rent) the other side can do whatever the contract allows to enforce it (eviction?). But, in a contract one is always free to re-negotiate a new contract or rider to it. That's all that Brandon's approach is. A new rider that both sides agree now controls, an addendum. 

Why do  you call that "self help"? Self help is doing an eviction yourself without going to court. Changing the locks. Throwing their stuff out on the street.  Yeah, that's wrong and bad and a judge will come down on you hard. 

But executing a new addendum to the lease which both sides agree to is not that but I don't know NC law. Maybe there's something about NC which does not like basic contract law? I don't see what would be wrong with that. Maybe you can tell us what I'm missing here? It's just another tool that you can use instead of eviction, like cash for keys agreements. 

The other problem with filing an eviction  is you've now put a new eviction on your tenant which will show up when they try to get a new apartment. Isn't the goal to get the non-paying tenant out? You've now made it harder for them to voluntarily leave. I don't see how that helps the landlord.