All Forum Posts by: Winston Risser

Welcome to Bigger Pockets !! Exciting

We put tin foil on the bottom of the oven and under the burners. It at least helps catch some of the bad spots. doesn't mean they will not remove it . But I am curious to see if it helps this time .

That seems like a good return on $30,000 rent ready . It probably really helps to be in a college town . Am I understanding right that the totally purchase price is $30,000 ? Or is that how much you have out of your pocket . Also does that include paying back taxes ?

My concerns would be what is the place actually worth if you don't have many comps to compare with . Also the consistency of a specialty tenant.
Do you feel like there is art stores that would want to put a store in there ?
How much would it cost to do repairs in order to get your first tenant in ?
Also how much are some of the other similar tenants paying ?

Maybe ask some other landlords in the area that are renting out spaces like this and see what they think .

I love your creative thinking and vision.

I am pretty new to the REI world but I really want key properties that can be to be rented by the majority . So there is not a lack of tenants.

I am curious to what some other people think.

Welcome Rian Chung to Bigger Pockets !! It was the best stumble I ever made on REI .

I was in a sticky confusing mess with a tenant and I wish I would of hired a Real Estate Attorney much sooner than I did. They know the law and can help you start taking action in the right direction.

Have you been listening to the BIGGER POCKETS podcast ? Great information and stories from the best. A fun way to learn about investing when the books get dry. Switch it up : )

Thanks Nathan Paisley !!
I would call this a success story because you started #1 .
#2 you finally found a way out and, I am sure learned so much.
#3 You haven't given up and your willing to keep learning and improving.

I am still a newbie . But I already look back to the mistakes I made on my second deal and know I will use what I learned for a long time.

Great News : )

My concern . If I was living off of a w2 income . I would not feel comfortable just going all in without ever even buying a property . So lack of cash, lack of experience.