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All Forum Posts by: Amber Forkey

Amber Forkey has started 19 posts and replied 123 times.

Post: Brrrr excel calculator

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64

Hi @Daniel Tayeb, welcome to BiggerPockets! 

You'll soon find that there are a ton of resources right here in BiggerPockets that can assist in your calculations. The first resource I would point you towards is the "tools" tab at the top of your screen. From there, on the left hand side you'll see a category labeled "calculators" and that's where you'll find one for the BRRRR strategy. It's a great place to start and can help you visualize the numbers in a way that a spreadsheet generally can't (unless you're crafty with adding graphs and whatnot which I am not).

Good luck and feel free to reach out anytime! 

Post: Putting in effort to learn

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64

One of the most influential channels in my journey that was recommended to me was Alex Hormozi's. It's not real estate focused but it's worth listening to. All about mindset, business and growth. 

Post: What states or Cities should I consider

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64
Quote from @Daniel Adebanjo:

Hi Everyone, 

I am a Canadian real estate investor who is looking to diversify by buying a few CF producing assets in the US. 
what states or cities should I look into buying first to get my feet in the water. Not looking to spend a lot to start probably $50k ( Downpayment) . My end goal is to have rental, mid term and short term rentals in the US. 
Your advice would be greatly appreciated. 
thanks 


Upstate NY (1000 Islands Region) has a stable rental market due to the military base, Fort Drum being located here. It's also an area that has several markets that support short term rentals such as Clayton, Cape Vincent, Sackets Harbor, Alexandria Bay and others. 

Working with a budget of around $200,000, there are definitely multi family and single family opportunities here both on and off market. 

Reach out if you want to chat more, I'm always up for discussion. 

Post: Showing process, do you show property first or have credit/employment ran

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64
Quote from @Luke Stewart:
Quote from @Amber Forkey:
Quote from @Jeremiah Dunakin:

Hello, first time landlord here. I recently renovated my first rental property. We listed on Facebook got around 25 inquiries. Also listed on rent redi. My question is this do you make prospective tenants fill out credit/employment/ criminal background checks first. Or do you show property?Like I stated we have about 25 people ask but I’ve been sending link to do checks first and no one has responded and filled them out. I’m thinking I’m doing it backwards.I just don’t want to show the house to tire kickers. What say you guys?

Fill out an application or complete credit/background check, no. 

However, I do have quite an intensive pre screening form I complete over the phone before I will schedule an appointment. It includes income (gross) per month for the household, estimated credit scores if known, reason for moving, known credit or background blemishes, where they are currently living, when they are looking to move in, ect. 

This helps me to understand their situation better and avoids wasting time on unqualified tenants (or tenants that don't want to move for another 6 months). If they don't qualify due to income, I put them in contact with the local hosing authorities to see if it's possible for them to receive rental assistance though programs such as section 8 and always encourage them to contact me back if they do so we can work with them. 

Your inbox here on BiggerPockets has a message from me with my screening guidelines document attached that you are free to use.  

 @Amber Forkey Would you mind sending me your guidelines as well? Id love to learn from them. Thank you!


 Absolutely! Sending them now.

Post: Seattle Eviction deputy shot by tenant

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64
Quote from @Tim J.:
I think NYC also made is illegal to screen based on criminal history.  Sigh.  What a cluster F.  

When, oh when, will property owners get their rights back in these woke liberal areas?!

It's lunacy. The only item on a criminal report that you can automatically decline is "manufacturing and distribution of a controlled substance". But sex offenders need to be looked at individually and what class they are makes a difference. If 18 year old Tommy slept with his 17 year old girlfriend and the parents get mad and call the cops.... you can't deny based solely on that alone. Whether or not violence was involved makes a difference in the higher classes as well. 

Post: Seattle Eviction deputy shot by tenant

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64
Quote from @Henry T.:

More horrible news from this sad city.  Btw, Seattle City council approved an ordinance making criminal history "off limits" on rental applications. Maybe not a good idea.

https://komonews.com/news/local/ballard-800-northwest-54th-street-shooting-seattle-police-department-king-county-deputy-shot-crime-gun-violence#


 This is exaclty why mailing it several different ways such as first class and certified with return receipt should be permitted and count as it being "delivered". Under no circimstamces should we need to physically go to these properties more times than absolutely necessary. Soon we will need SWAT with us just to carry out an eviction... 

Post: Is it normal for a PM to ask for your social security number?

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64

Yes, and if they're sending out 1099's that is necessary information as well. 

Post: Investor friendly attorney - Upstate NY (Albany County & surrounding area)

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64
Quote from @Grace Marlin:
Quote from @Amber Forkey:

Hi @Grace Marlin, what part of Upstate NY are you in? 

I’m located in NYC but am looking at deals in Albany County and surrounding counties (Greene, Columbia, Rensselaer, Schenectady) so ideally an attorney who is familiar with that area

 Ah, unfortunately I'm in the 1000 Islands Region up by the Canadian border so I wouldn't have any contacts down that way. 

Post: Rental market analysis suggestions

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64

Hi @Nick Causa, I've had good luck with neighborhoodscout.com. 

https://datausa.io/ is another source that has some good information. Here's a look into one of my local markets so you can see the layout: https://datausa.io/profile/geo...

Census.gov is always reliable. Again, here's what one of my markets look like: https://www.census.gov/quickfa...

Post: Investor friendly attorney - Upstate NY (Albany County & surrounding area)

Amber Forkey
Posted
  • Property Manager
  • Watertown, NY
  • Posts 125
  • Votes 64

Hi @Grace Marlin, what part of Upstate NY are you in?