All Forum Posts by: Anthony Geren

is this located at the business center in the hotel? @Priyanka Johri

you could call up a GC to walk the property with you and get a bid, while your walking with them they should point out problems

dude you are killing it, good intro and welcome 

welcome to BP

I do like redfin a tad better, not a fan of the zestimate, but i use these sites to just comb through and if i happen to find one i get more detailednimfo from agents

Hey BP,

I have a family friend who has a rental property that is leased to the tenant on a verbal/handshake agreement. He asked me how he would go about raising the rent, and possibly converting the lease to a paper contract agreement.

So my question to you is the same. How does an investor go about raising the rent and get a paper contract on board with a tenant that is under a verbal contract?

Thanks again BP

Cheers,

Anthony

Thanks @Tony Castronovo, i sent you a PM for more info.

Preciate the response @Account Closed i also sent you a PM for more info on your HML

@Cliff Loya,

I agree with @Carolina E. as you can use the sites like Zillow, Realtor.com,Redfin, etc to get comps. This is what I do to analyze my deals, but having a good realtor to help you is the best assurance to back your analyzing (since they analyze markets for a living).

As far as getting your license I would tell you no, but its not a necessity when you start out. I would get connected with an awesome realtor to help get your properties going and once you get some skin in the game then would be a good time to get your license, since you can be more efficient with your investing.

Hope i could help, if you need some more help you can PM or connect anytime

Cheers,

Anthony

Hey @Cameron Alaniz,

I agree that open houses may kinda be a waste of time, instead if i were you looking to expand my rental portfolio I would continue to educate myself on buy and holds (BP, books,REIA), go drive for dollars to look for certain neighborhoods you are interested in and see if you can find some houses for sale, also i go to "open houses" for rentals in my neighborhoods i invest in to see what my comps are.

Now when it comes to credit I think its kinda funny how that works, as in you have to aquire debt and make payments to build your score. Like you im still young at 24 and to build it up (not intentionally) i just acquired a few credit cards (travel hacking), and a car loan. With those i was able to get my credit score above 760 bout a year ago.

Anyways hope i could help. If you need a local texan to talk to PM or connect with me 

Cheers,

Anthony

@Ramona Beyer,

I agree with @Dani Beit-Or reply, the numbers make this a good deal, but however you have other due diligence that comes into effect to see if you should buy it (Location, Vacancy, type of tenants, etc) if you like what you diligence finds, then buy it.

Now for your second question, i think determines what your interest rates are for you HELOC, if you would get better rates with a mortgage go with the refinance, also if your able to put some equity in the property you might look into a BRRRR method

Cheers,

Anthony