All Forum Posts by: Alex Zhao

I've heard some good things about Tellus, as well. It seems to have a lot of features from when I was looking at it on the app store the other day. 

I agree with everything that has been said. Realistically, foreclosure is such a difficult thing to approach because you never know how it will turn out. I would be very cautious, especially if it is your first time.

If you are still interested, maybe ask if you can tag along and shadow someone who works with foreclosed properties. 

I definitely would. If you can build your tenancy leases in such a way that can protect you from possible mishaps, I think there's definitely money to be made.

People need housing, and sometimes bad neighborhoods are their only option. Being a good landlord in a bad neighborhood can be a blessing for people who are struggling.

I would definitely add something to your lease for the future. Plumbing work is very expensive and both tenants and landlords need to care and respect for the sewer line. 

This happened to one of my properties and I learned my lesson. I also have clauses about flooding in my lease.

To my knowledge, I thought Venmo was not allowed for business transactions. Has that changed?

I usually use cash, check, or Paypal. I particularly like Paypal because it offers some modicum of protection. I have been trying to find something more convenient for me though because I don't enjoy picking up checks every month or waiting for them to be mailed to me.

I agree with everything that has been said.

I just wanted to add that AirBnB only works if you are in a high traffic area that attracts a lot of tourists. I was interested in doing AirBnB but I did the math and it was more money if I rented long-term instead of doing short-term stays.

Is there a way for her to get a cosigner with a more reputable and stable credit score and income?

I'm wondering if anyone uses anything specific, like an app or website, to research potential deals. In the past, I've done it the traditional way (talking to anyone and everyone and networking) and I am interested in branching out. 

I feel like talking to people gets you nowhere these days.

I might caution against using the BRRRR method right off the bat if you have not purchased real estate first. Finding reputable people or having to do repairs can be daunting.

If you feel confident, I would maybe make a few lowball offers, but not too many if you feel you are wasting your realtor's time.

I have been having trouble managing my properties because of the long list of never-ending things. Bills, repairs, late payments, etc... It is getting to be a lot. I have just found this forum from Google a few days ago and I was wondering what tools you are all using to keep everything organized. 

I have heard some people use spreadsheets, but I am unfamiliar with it. Does anyone have any recommendations?

Thanks,

Alex