All Forum Posts by: Ames Foley

I agree with Michael R. You should plan for the worst (100% vacant) and work to make the best. Start with what you can afford. Build up savings for your next property. Move into the next level and rent your first. May take a bit longer but less risky

Welcome to BP. This site is great. I also would recommend the podcasts. As for books, try ABC of Real Estate Investing. It could give you good foundation. There are so many different ways to get into REI, select one and stay focused.

Good luck.

Now that it is done,  How do you feel?

That's okay.  I needed to revisit a few I had downloaded anyway.  

Good luck. I hope it works out and sorry your original mentor is no longer with you. Keep us posted

@Micki M. Great job and I really like how the BP community works together for the benefit of us all.  Hope to see more successes for you soon. 

Thanks everyone, this is great information.  The repairs should only be a few days long. And they were without hot water for several days before contacting my PM.  I will have him write up a quick document for us to both sign that the other location was offered and declined.

I have a situation where an underground hot water line broke and I need to replace or run new lines. Until complete there is no hot water in the unit. We decided to run new lines. The issue is that the unit is occupied.  We lined up a temporary unit to move them to but it is 15 minutes from the current unit (friends open unit).  The occupant declined and said they would stay out of the way.  This is my first time dealing with this situation.  Is there any issues with not moving the tenants?  legal or other?  Anyone else have to deal with this?  I have read about rehabs but not repairs.  Are there any significant differences beyond must do vs wanting to do?  thanks, 

thanks,

I thought as long as there was an egress window we would be fine.

I am in the process of purchasing an 8 unit 2 story apartment building in Belleville, Il.  My current insurance provider will not insure the property unless it has two fire escapes with stairs for the second floor.  I am waiting on a proposal from Travelers.  Does anyone have a better option and/or know of issues with two story buildings?