All Forum Posts by: Bjorn Ahlblad

I have a tax accountant and would not operate without that resource. We have 16 units and the accounting is a breeze. At this point some of the units are in an LLC some not. So that means separate CC's and bank accounts it is all pretty straight forward.

John ethics is strictly personal my ethics don't equal yours and vice versa. When hunting I will only take a shot if it is completely perfect, or I pass. Ethics is how  you act when no one is looking. ;<)

It will happen again, who knows when-it is a reverse Robin Hood; where they take from the regular guy/gal and give to the super rich. How to be safe? Have sufficient access to money so you can ride it out if and when need be. Those with low cap, marginal assets, who are over leveraged, and who do not have access to capital, will get fried.

Great looking house, nice quality finishes and appliances; great kitchen, really all around beautiful job! Maybe do something inexpensive with shrubs and flowers in that front yard? You are early, and may be over anxious because you worked so hard and put in a lot of money. If it were me, I would hang in there; you can always drop the price later or when the right people come along. In our area houses don't sell as well in jan-Feb as they do in April and May. When we sold our houses in California last year we did not let the agent list till April. 

I am also completely unfamiliar with your market-but the agent should know and I would rely on them. That Zillow price guide is something that people do look at-buy it is a computer generated number and not done by an agent. On one of the homes we sold the Zillow guide was over our ask, and in the other case way way under-go figure! Good luck!!

@Vincent Meoli Vincent, you have to get into much bigger fish. You mentioned the 2 properties you currently have cash flow 200 dollars a month simple math says you would need a huge stack of those to get 20K per month. I would look at buying one or two large commercial projects with great returns to get the feel of things and go from there. Check everything, including the backgrounds of syndicators should you choose that route. 

There are several right here-I'm not naming them! Barbara Corcoran is a name that comes to mind. There are many more if you dig a little. Did you try keying the phrase into google?

I have spent 5k and lost a month's rent, and also replaced the outgoing tenant in a day and raised the rent so much I'd be ashamed to share it here! ;<)

Every case is different-but what it comes down to is always be diligent about whom you say 'yes' to. 

Kristin it is human to have feelings but for this process you will have to set them aside, this is strictly business. Never compromise with tenants. I helps too if you are 'not the owner' be the property manager instead. My wife manages most of our properties, some tenants and applicants may assume she is the owner; but that is where it ends.

I would for sure hire a real estate lawyer for this transaction-maybe form an LLC too? Get financial statements review them and hand them to your tax guy-if you don't have one now is a good time to get one. Have a very thorough inspection done by a licensed inspector. If there is no listing agent be very thorough at every step-you are unlikely to get proper disclosures from an owner.

Nothing wrong with small towns! I only invest in opportunities I can drive to in an easy hour (no heavy traffic). I can physically respond to whatever is going on if needed. I work with and get to know local bankers, insurance agents, etc and they might even give me leads-it has happened! Your biggest asset right now is local knowledge; maybe time to lead with that card.