All Forum Posts by: Marcus Auerbach

@Matt Gragg it looks like you took out a bathroom to increase the size of the kitchen?

I would agree. I don't think the logo would work well for your sellers and it reflects what you have layed out in your business plan - nobody likes to sell his home below value or have a eagle come in a grab it. But dont get too hung up on a logo. It takes about 7 impressions before your traget audience starts to recognize the logo. In other words a logo does not do much, witchout a monthly marketing budget. Focus on deals and learning; your name will be your most important brand - and it should be associated with good values like competence, integrity and hard work.

@Reynald Jean you do both. With only 10k and not much experience this is probably your onlye really feasible play, but it's actually a good one. Buy a duplex with an owner occupied loan (5% down). Buy in a quality neighborhood where you don't have to be worried at night. Fix up the lower first and rent it out, so you have rent coming in to offset the mortgage payments. The fix up the upper and move in yourself. Then bring the equity to 20% by paying down the mortgage to 80% of the home's value, so you can stop making PMI Private Mortgage Insurance payments. This process will teach you everything you need to know to decide for you future investment career. For more information lock for posts about "house hacking". Good luck!

James the purpose of a trust is amongst other things to conceal the owner. Leave a note on the door, probably all you can do. Even with driving for dollars you need some volume. Try to get 50 leads and then follow up, you'll need a lot of luck to convert only one property.

@Tyler Bullis I am sure some people will tell you there are con's, but in my book there are only pros! What you have in mind is commonly known as househacking and you will find ton's of posts on the subject. Some of the things that people will tell you are negatives are really just part of becomming a smart real estate investor. Like, you will have a neighbor. Fair, but compare that to living in an apartment building! The good thing is you are in control and can choose a neighbor. You have to learn how to be an investor (mainly a mindset, some mechanics and really a life skill), but a duplex is perfect to test the water and see if it's right for you. The fact that you post here makes me believe you are serious enough to follow through. What you do at age 19 will make a night and day difference for the rest of your life. You will learn so many lessons and will be much ahead of your friends in a few years, not only financially but also mentally. My advise is, don't do all the work yourself - only do what you are good at and bring some other trades in, especially electrical and plumbing. Make sure you buy in a good location, you can upgrade the building, you cant upgrade the location. You will build equity when you improve the building, you will live for free (or at least pay less, because you have rental income) and you will learn a ton. The first property is scary, it does not matter if you are 19 or 29, but take the advice you will find on BP and in hindsight you will see there was no reason to be scared at all. Good luck!   

In any order:

1. Have a plan and stick to it.

2. Practice makes perfect. Know your ONE THING and do it every day. Become a 10.000 hour outlier.

3. Read, discuss and research about your chosen niche as much as you can.

4. Work harder than your competition. No free lunch in RE.

5. Integrity, honesty, fairness and loyalty go a long way.

I would google insurance broker and meet with two or three. Everyone thinks they know a great dentist, but nobody has any comparison. You need someone you are personally comfortable with. Any insurance broker who is worth his salt will be able to get you a top policy and as long as you stay in the residential arena I'd be suprised if you find much of a price difference.

@Andrew Dicks let me try this from another angle. It does not matter so much what a lawyer would tell you, because what you discribe is not back or white, it's somewhere in the grey middle. Why dont you speak with your tenant about the damages and that you are looking at some deductions from the SD. Maybe you get nothing but agreement, maybe you will get massive push back. Based on that you can decide your next steps. It does not matter if the law is on your side, because the cost and energy to fight it out in court is not worth it. Best think is always to do a walk through with your tenant (be sure you did one by yourself alone first, so you have time to discover any not so obivous issues) and then seek to reach agreement. Be sure to provide a written statement of the deductions you take and refund the rest within 21 days. You can download the Wi guideline as a pdf file - just google WI landlord tenant law - "The Wisconsin Way".  

@Jesus Garcia just like Neil said, getting a few deals done is way more important than a logo. A logo is nothing without a monthly marketing budget and a traget audience you hit over and over again before they recognice the logo. Cart before the horse. Deals come first. You are your brand. 

@Steven Helton funny you know Sam, he's a great guy and has done some impossible jobs for us.