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All Forum Posts by: Alan Morrison

Alan Morrison has started 3 posts and replied 23 times.

Post: Are tenants really willing to pay online?

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

I agree with the PO box idea! That seems like a good idea, even if the majority pay online. Perhaps I am odd, but I would not be comfortable with any tenant knowing my location.

Post: Worst Hoarder House Ever

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

OH GAWD!!!! Food from 16 years ago?!?! That seriously looks like something out of a mad max movie. Be wary of Rad poisoning!

Post: When to get a property manager?

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

I asked this question to one of the elderly veterans at my local REI club. Her answer was exactly fifteen. While, I am sure any literal exact answer is bound to be mostly incorrect, perhaps this could give you incentive to acquire more deals!

I haven't done any deals yet. That being said, I wouldn't do it. Real estate is a risk-reward game. You take on the risk of debt for the reward of income or cashflow. To hold so much debt, especially when just starting out, I would say the cash flow would need to be especially enticing to be interested in the deal.

BiggerPockets has never made me laugh this hard XD

Post: Everyone shutting me down?

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

At the risk of sounding flippant and uneducated allow me to say...

Haters gonna hate

As obnoxious and cliche as that may sound it certainly rings true here. People are often quick to point out negative aspects to anything. They equip their negative statements with anecdotes of past bad experiences. These experiences, when analyzed, often display a lack of due diligence and/or grit. I agree with the several other users that recommended building a local network to surround yourself with like-minded people; attending my local landlords association meetings have helped me build confidence!  

Post: When do you drop the price?

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

I've heard to always wait 30 days as a rule of thumb. You also gotta keep in mind, you're in the worst part of the year for selling a house. Stick to your guns!

Post: Just finished a flip....PICS

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13

Nice! Love the wooden floors, and the recessed lightning is a nice touch too!

Post: Will we ever see another buyers market?

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13
Originally posted by @Jay Hinrichs:

@Vincent Crane  all properties cash flow when you pay cash..

 That was the most Dave Ramsey-esque thing I've seen on this forum. Kinda refreshing!

Post: Turn $100k into $5k/month positive cash flow

Alan MorrisonPosted
  • Grand Blanc, MI
  • Posts 24
  • Votes 13
Originally posted by @Kory Hodgson:

First to those laughing at the idea or $5k/month from $100k he said he wants to get there in a couple years, and instead of considering it impossible his is figuring out how to do it. I say well done for trying, it is the only way to accomplish great things. I work in the High tech field that is growing so fast in KW. It is definitely a great spot to invest. I also have my real estate license and own a few rentals, mostly in Hamilton. Feel free to reach out to me if you want to chat. 

 Your phrasing is excellent here! It reminds me of how Kiyosaki always says to look for the "how" instead of saying "can't".