Because I buy houses on Subto.The only thing I am really interested in is the mortgage payment I’m taking over.That’s why it’s called “Subject to existing financing”.If I can cover that with rental payments from the tenants I put in the property……and I ALWAYS do.It’s effectively free money.So I get to own a property without using any of my own money.AND……there’s no credit checks, no credentials needed, no tax returns to submit and no checking of my bank statements.It’s the dirty little secret behind why my property portfolio is growing as fast as it is.Because I can do deals like that all day long.Here’s what that means…I have a ton of properties that are appreciating in value…….that cost me ZERO dollars of my own.I have to pinch myself sometimes that it’s this good.And the icing on the cake…?

I would use this as an opportunity to build the relationship versus pinch pennies and make them feel uncomfortable, especially in such a nicely maintained property.

I paid the overages without complaining since it was a smaller job, but I learned that this is someone I’ll only use in a pinch and only if my timeline can handle the risk.

Most investors are all about the bottom line and penny pinch on these costs and just go with the cheapest options claiming tenants will just tear it all up.

Using the CC is a big risk but can work in a pinch.

A lifetime .150 batter MAY get a hit, but since 85% of the time he won’t, I wouldn’t use him as a pinch hitter.  

Great post, Nick—you're not alone in feeling this pinch.

When a "wanna be" investor starts feeling the pinch from a bad STR (or rental) investment, or it's too much work, he walks and stops paying the mortgage.

My brother in law is 65, they own maybe 20 duplexes almost paid off, and they still pinch every penny to pay off mortgages.

With that being said, I’m in a pinch and do not have a lot of liquidity to show.