PM_Georgia_Okeefe

PM_Georgia_Okeefe t1_je2jpex wrote

  1. Contact an attorney that specializes in renter protection

  2. Set up a separate bank account where you’ll deposit your rent checks into escrow

  3. Save all receipts related to expenses incurred by the renovation

  4. Contact landlord to explain the issue and how you’ll only release rent after the project is finished, minus the expenses of eating out

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PM_Georgia_Okeefe t1_jdmoepd wrote

I YOLOed in April 2020 and bought a vacation home. Locked in 2.74%. Spent 2020 renovating it and now rent it out half the peak season and it covers 3/4 of my mortgage. Plus, now I don’t need to pay for annual beach vacation.

I get cold called from investors where their starting offers are 2X what I paid. The house next door that hasn’t been updated since the 80s just sold for 1.5X what I paid. This market is insane.

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