All Forum Posts by: Alecia Loveless

@Tyler Helget If you haven’t already check out the BP bookstore. You should find some useful reading materials in there to help you get going.

@Lisa M. Based on my experience the more of it you try to hide within walls as opposed to just running outside in the open the more expensive it will be.

Also make sure you get more than one estimate. I only got one for my Victorian B&B and am sure it doubled my cost as my 7000sq ft building cost me $65,000 while the ski lodge 15 miles away that was 30,000sq ft that my friend had sprinkled cost $15,000. He brought in a crew from another state and they stayed in the lodge during the summer for 2 weeks instead of my local crew that gouged me.

@Billy Daniel I would call a local well company and have them come treat it.

@Montez Blackburn Hey Montez, I’m not in your market, I’m in New England but I’m always happy to talk real estate! I work night shift and pretty much have the whole night to myself from like 11:30-6:30 so plenty of time to answer emails if you’ve got questions, thoughts, or whatever! I’m currently expanding my portfolio and am always looking for the next great deal even though I’ve already got stuff I’m working on! Real Estate is just such an exciting world to get caught up in! Hope to hear from you soon.

@Henley H. I currently have some tenants using Venmo per their request which I then use their free 1-3 day transfer into my account. You can also do an instant transfer into your account for a fee.

I also have some tenants who send certified bank checks at their discretion, I haven’t asked for certified funds as I haven’t had a problem with bounced checks. I have a few tenants who pay with personal checks.

As I continue to scale up my doors in number I am starting to look for an online management software that will help me better organize my business and also provide another online option for my tenants to pay.

I think the key to remember is that we’re in the housing business but we’re really in the customer service business and when we provide options to our tenants that make their lives easier it may make the difference between them staying with us for 1 year or 5 years.

@Brandon I Garcia Where I live it varies from town to town but I can get the water and sewer bills all in my name, none of it ever goes to the tenant.

In two towns I am in the trash is paid for by taxes both of which have curbside pick up. The third town residents buy town approved trash bags and take them to the town owned transfer station. The cost of the bags pays for the running of the transfer station.

@Ashley McCaffrey Or if possible and the process doesn’t take too long make the offer contingent on the change of use/zoning, whatever it is in your state. In my town if you worked quickly with the town hall you could probably get this done in 4 weeks.

As I’m sure are most investors, I’m always looking for the next great deal. My realtor has presented me with a retired funeral home as a possible conversion to a 3-4 unit multi family. It currently has a 2 bedroom 1 bathroom apartment upstairs and lots of open space on the first floor ready to be divided up and turned into other things such as housing units. I haven’t looked at it yet but I believe there’s about 2700 sq ft. Of space on the first floor, so maybe two large units and a studio or else just extra bedrooms.

There’s an incredible shortage of housing in my area so if the units were done correctly I don’t believe there should be too much trouble renting them. I’m sure there would be some people who wouldn’t rent in a former funeral parlor but plenty that would.

Fellow investors do you think there’s too much stigma and this is a bad idea? Or a possibility to get a steal because no one wants it?

@Emily Fackler Great job! Your comments made me just re-evaluate a project I’ve got going on and I realized I’ve got to take over and finish it! I have a great contractor but he CANNOT finish

a project. You’re absolutely right, no one cares about your property as much as you do.

@Jared Ryan Hi Jared. This sounds like a good solid plan and is basically the one I am working toward myself, a 5 year plan. Many people on BP mention those two markets for cash flow, but I seem to think that the appreciation in OH isn’t so good. I don’t remember anyone talking about appreciation in INdy.

Hopefully some other members will chime in and say some more.

At the moment I’m on track to buy 2-3 properties a year but it sounds like my income level is significantly less than yours. I’d recommend getting your feet wet with a couple to make sure everything goes smoothly then you can buy faster once you’ve developed systems.

If you can find a good team to work with it might be wise to stick with one location for several properties then maybe move to another location for some so all your doors aren’t in one location in case of a regional recession or disaster or something.

Just a few thoughts!