All Forum Posts by: Aaron Rouser

Hi John! I'll keep my advice short and sweet since so many great tips have already been shared!

As someone who has been burned in the past by bad GCs, here is a crucial step I take in the vetting process before I hire them (in addition to all of the great points shared above):

Take a look at the interior of their work truck. Even a quick peek on the inside if possible, that's it. If it is neat, clean, and organized, I find that this simple fact increases the likelihood that you'll be working with a competent, solid, knowledgable, and experienced GC. 

In addition to checking their references, asking about their current workload, seeing photos of their past projects and so on - be sure to take look at the cleanliness and organization of their work vehicle if given the chance. Has worked like a charm for me so far - hope this helps!

My wife and I own two properties in the Saint Paul, MN market - a SFR and a duplex - that are fully rented. We want to transfer both properties into LLCs, but we want to do so properly, and in such a way that sets us up for success in the future as we grow and scale our business. We're familiar with quick claim deeds, but aren't sure if that's the best route given our situation. We're looking to partner with professionals who have experience in strategic entity formation as we know little to nothing about this side of REI. Thanks to anyone who can point us in the right direction!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $230,000
Cash invested: $19,000

Contributors:
Mike Moe

Our first small MF, our first house hack, and first opportunity as landlords running an investment property!

Hi @Daniel Anshus and @Caroline Gerardo, I will look into using Quickbooks. I appreciate your replies, thank you!

Does anyone have any recommendations for book keeping services and/or accountants that you've worked with in your REI business? Preference for services that are local to the Twin Cities over a self-directed program. Thank you!

Following this one too @Rashad K., all the best! Would love to visit the property as well!

My wife and I have been searching for months and we believe we've come across a viable MF FSBO opportunity. In crafting FSBO deals as a buyer, what are some questions you absolutely should ask the seller about what they'd need from the deal? What should you ask them about the property? What are somethings you should do in general before finalizing the deal? Appreciate any tips you can provide!

One of my favorite RE books (that wasn't already in your list) that was digestible and informative:

The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom -- Craig Curelop

Hi BP Community,

For those who started out REI buying & holding MF properties without W2 income, how did you do it? I'm extremely curious, any and all success stories are welcome, would love to generate a healthy discussion around this topic.

Thank you!

(Mostly for those newer to the BP community who may not have come across threads like these in the Forums yet)

Hi @Destry B.,

My wife and I closed on our first single-family home at the end of June of this year. We partnered with our realtor at the end of January, we saw about two dozen homes over 4 months (1-2 a week as our work schedules permitted), we put out two offers and had the last accepted by the end of May!

All in from zero to our first property, it took 5.5 months. As a newer investor to the Twin Cities, I'm happy to answer any questions you may have so that you may avoid the rookie mistakes that we made. Shoot me a DM, would love to connect!