All Forum Posts by: Umaha Essien

Hi all. Meeting with an investor that has been at it for a while and is looking to retire. I need some tips and also suggestions on how to go about pitching owner financing to him. What are common practices in the industry as far as this goes? 

I am currently using Rentredi. Like them bc they are constantly changing and improving.

Need suggestions on ways to handle this tenant. I knew she would be a headache when I was in the process of buying this set of homes, but the deal was just too good to pass up. I followed procedure and gave her a 30 day notice in regards to a rent hike etc. Closed on the home in November, gave her notices right after, left everything the same for December and we are now in January which is when all changes are supposed to take effect and she is yet to sign the new lease etc. She did pay the  old rent amount for December but I am yet to hear a peep out of her this month. Some more facts; she was on a month to month lease with the old owners and the last lease she signed was from 2017, she uses the home for airbnb and is pretty good at it based on her host ratings. The eviction moratorium has my hands tied. What to do?!!!

@Nic S. Seems a bit scary doesn't it? But the beauty and what I love about real estate is being able to take a problem, like yours, and find a way, out of all the avenues available, to tackle it and make it work. I have found myself in a few difficult places and I have always gotten out of them and gotten great lessons from the experience. I have no doubt that you can too. Also, you've mentioned that a bulk of your spending has been on fixing and upgrading. This means that your properties have definitely appreciated (like most properties this year). Have you considered a refi on some of them? Structured in a way that you can still cashflow the unit and also pull out all or most of your cash hereby making it available for other things. Not sure if this is a good option for you, or just a Band-Aid prolonging the inevitable.  

@Quentin McNew Perfect!! Thank you for replying. Look forward to meeting/chatting sometime. Also, thanks for sharing the meetup link. Checking it out now. 

Not sure about others, but I get pretty inspired when I hear others talk about their experiences etc. I love getting and sharing ideas that can help me and others grow. There is definitely enough to go around. Also wouldn't mind a mentor or two.

Hi!! I'm a fellow investor in the Champaign area. This is an amazing area to invest in, primarily because it is ever growing and ever changing. I have lived in Champaign for 26 years now and I'm here to stay. I'll be more than happy to answer whatever questions you may have about this amazing city of mine, and if I don't have the answers, I'll be sure to get you in touch with the right people that do. Congratulations to you and your family for making that leap. You'll love it!!