All Forum Posts by: Deborah Burian

I used to flinch at this as a myob question, now I just answer it and find it tends to trigger really interesting conversations. Plus ditto to Patrick L., it does help tenants when they know you are an experienced professional.

Plus, if I can tag on to Nate Tanner, you've allowed nothing for maintenance or vacancies, I didn't see any allowance for turn around time, etc. On the other had, all that's impacted by your final rent. Starting out is the time to be somewhat conservative.

Pass. Then pass. Then pass again. Too many red flags plus you get a tenant who thinks they're entitled to rule changes. Did I mention pass?

It may be hard to see right now but a good CPA is worth her/his weight in gold down the road.

Planned to look at 5 SFH today. Most came up on my list in the last three days or so. By the time we got out, two were sold. One more sold between my agent leaving her office and us arriving at the house. A fourth sold between us looking at it and me arriving at my office. The fifth is still in the owner period. I gotta hook up with a wholesaler. All were 3 beds in a 50-70K price range. I liked it better this past winter when I was the only one looking.

Can't resist a funny story from years ago. Evicted a tenant who had been referred to us by their cousin. Went to said cousin's house... evicted tenant was living in the garage. Evicted everyone. End of story. We all have a tenant(s) we learn our trade from, you are now your own guru on what not to do.

Matt Stoker, thanks for the warm welcome. Do you go to the Reia?

Jon Klaus, That's a pretty open-ended question, like most markets we have extreme variability. I see a lot of 3/1s in the 60-70 price range and see rents ranging from maybe 650 to 800. In our city, if you go north, most cost rise and south, most lower, I'm mostly in the middle.

Joined Bigger Pockets a week or so ago and have found it just fascinating. We have been buy-and-hold investing for about 10 years and I am beginning to think about a second act... considering small multi-units, maybe flip one, etcetera.

Went to our first every Reia meet up last month and found it fascinating... THAT's where all the local investors are, who knew?

Looking forward to getting to know everyone and a shout out to those who have been so friendly already.

It has not been our experience that the bank required any reserve to make a loan. As long as we had the 20% down, and a good history of making the other payments, they were more than ready to go forward. I confess to a weakness of spending what should be emergency reserves to buy new properties... It's been such a fire sale the last few years it's been hard to resist and since we don't buy unless the property cash flows, it's worked out ok. In the beginning, our salaries had to bail us out more than once.