All Forum Posts by: Adrian Fajardo

@Alejandro Ochoa hello! I like your eagerness and drive. Normally, I would urge you to invest local for your first property. There's just a lot of factors to consider when investing out of state. I understand the California market is pricey but there are still people investing. You can either partner up or look for pockets where housing is affordable.

If you're still determined to invest out of state, the best solution is always to get educated first.

I recommend reading this book. https://www.amazon.com/dp/0997584750/ref=cm_sw_r_cp_awdo_t1_ZMWAEb90431WV

It's specifically for long distance investing. Take the time and learn. If you're willing to drop 10k-50k, then you can spend time to study.

I hope this and I wish you the best on your investing journey!

@Joe Windsor you're welcome! The lawyer I think is an option way down the road. The Army says "handle issues at the lowest level first". So go ahead and speak to them first. Who knows, everything can be resolved over a cup of coffee. First things first, you have to get into a conversation with them!

Whatever happens, there's some awesome resource here at BP and don't hesitate to update here. Good luck man!

@Joe Windsor CONGRATULATIONS!! Woooh! You need to get hyped by this. Anyway, this is part of the process. If you knew out of the gate real estate was mind blowing easy and boring, there wouldn't be any excitement at all.

Now, to your issue. You're the Landlord! They are living in your YOUR property (I'm not yelling, just emphasizing 😁). They should be more nervous than you. I suggest be firm and courteous. The moment tenants feel you are timid some, not all of them, will walk over you and they are setting they'll be setting the rules and not respect any of yours. Treat them like an employee. Be professional and respectful. Ask them to meet you and give a time and date. They're living right beside you. You'll know when they're home. You got this!

I hope this helps. I wish you the best on your investing journey!

@Brian Kueck hey don't hesitate. I'd be happy to help out. I'm not too familiar with the DFW market but finding something to fix up should give you a stronger bargaining position to ask for a LOWER price. No one sells top dollar for something that isn't on par with the neighboring properties. Not only that, those are the kinds you want! You want to add value to a property. So the old adage "Buy low, sell high" works in this case. You're unlocking untapped value by fixing it up. The best part is, since you're living there you don't need to hurry up and fix every single issue. You don't have to unload a lot of money to fix everything at once.

I apologize if I sound like I'm telling you what to do. My intent was to show you another path just in case you haven't seen it. By all means let me know if you have questions and I'll answer them with the best of my abilities.

@Bernard Haugh Hello and welcome! First of many I hope! I don't know what you're hoping to do but you're in the right place if you're looking for support. No matter what it is I wish you the best of luck on your investing journey!

@Kenneth Ciuchta Hello and welcome! You are not alone. A lot of people here have those similar goals. This means there are a lot of people here that can guide you on whatever you want to achieve here. Real Estate is a large subject matter and I like how you're educating yourself to make it smaller. Once you do decide on jumping-in and have specific questions, you'll have the community ready to answer them. Till then, keep learning and networking!

I hope this help and I wish you the best of luck on your investing journey!

 

@Kyle McMahon Hello and Welcome! I like your enthusiasm. Please keep it up until you finally jump in and start your investing career. I'm from Washington myself and all I can say it has the perfect balance of city life and the outdoors. 

You're off to a great start by educating yourself and networking. What you could also do while studying is you can figure out what your end-all-be-all goal in Real Estate. If you begin with the end in mind you ultimately know what you are looking for. You can ask specific questions from the community and they would be happy to point you in a specific direction.

I hope this help and I wish you the best of luck on your investing journey!

@Amanda Bennett Hello and welcome! Let me ask you this question and hopefully, this would guide you to where you want to go. What is your GOAL in real estate 20 years from now? The answer is not for me but for yourself. I know its a little bit cliche but from the answer to that question, you can backward plan and figure out where you want to invest. Let's say you decide to flip then transactions are a lot shorter compared to a buy and hold. There are ways to make money in any area but the most important question is how do YOU want make that money.

Hope this helps and I wish you the best of luck on your investing journey!

@Eric Kump I always say hire out the jobs that you don't want to do. That minimizes stress. Also make sure you prioritize essential areas like bedroom and bathroom. So no matter how tiring your day will be, you can always sleep and shower.

Best of luck!

Hello @Eric Kump and congratulations in advance! (6 months advance).. Everyone here has a valid point. I'm just giving you an alternative option too.

If you'll be renting it 3 years+ from the time you acquire it. You have time on your side. You can make use of the power of "Adding Value" to your property while you live there. So basically you buy a property that needs some repairs (how much repair? I'll leave that up to you and your wife because you'll be living in it) and fix it up.

The beauty is:

1) there's no rush in fixing everything up at once. You won't be putting a lot of money upfront for repairs.

2) since the place needs some repairs, you can negotiate for a lower price!

3) you will have a huge equity position when it's fixed up and cashflow since your mortgage won't be too high.

Hope this helps! I wish you the best of luck in your investing journey!