All Forum Posts by: Bryan O.

Sounds like a sales pitch to me. Why bother with crazy routing? Just get a SIP/DID and use that number for business wherever you are.

I use voip.ms as my provider

I have a VOIP phone at home and a VOIP app on my smart phone

I set up a ring group so that my home and my cell phone ring whenever calls come to the number, and when I dial out on my cell it asks if I want to use the cell line or the VOIP line.

Cost is around $2/month depending on how many calls you receive/send.

Having just left a job last year with $30k in savings to move back to the USA I know how fast it disappears. You have some money, but not enough to buy real estate and you're quitting the only thing that qualifies you to get that real estate. You have very little REI knowledge. As you said, you are "...reading the BP beginner's guide (not finished yet) for a few months now." A FEW MONTHS? If that is the pace of your passion then you are in for a very painful learning experience. Not that it is a bad thing. People tend to remember the painful lessons better than the easy ones.

I see a lot of good advice here, but then I see you saying, "Yes, but that's not what I WANT you to say."

Best of luck with your decision. All options are good if you play your cards right. Remember that the only one that mandates how you feel is you.

Many lenders will allow you to use 75% of the income from your rentals. If you bought in a good market, your SFR should cover itself, and then your duplex won't be too expensive based on your other tenant bringing income to you.

Otherwise, skip the bank and look for the creative deals: FSBO and others

I'd tell him to get into his local REI and offer to help ANYONE doing ANYTHING. Maybe he'll get a call from a manager who needs help drumming up new business or busy with seasonal problems (all my properties are underwater... literally), or other things. Maybe a flipper can use a great person on their team to help out or help run the contractors. Maybe a wholesaler wants someone willing to door knock or cold call.

None of these are guaranteed, but they are a way in. In all cases you have the chance to find distressed properties or tired landlords/owners and they may be willing to hold the paper just to lose the headache. You also get to meet people who may be willing to partner if he proves to be good at a particular aspect. It's not a magical solution, but all of that gets him in the field and has potential to help him get that no money down deal or that partner who can do the financing.

The existing lease for the 3-unit I just bought had a termination clause that said if the premises sold the landlord could choose to terminate the lease with 45 day's notice. Weird, but I suppose it happens :)

As far as a bubble in Denver goes, the house prices are rising along with rent prices. That means that it is overall growth. OTOH, houses have recently been selling for above appraisal, cash, inspections waved, etc. so I think we're starting to get into a small bubble. I also just had a nice mailer show up to refinance my home into an ARM. Looks like the cycle is just about to trend up for the risky loans and a crash in 3-5 years.

My friend's daughter was bit in the face by a dog. She's upset that it was ONLY $40,000 payout!

I require all tenants to hold renter's insurance, and if they have a dog I require they have the pet rider on their policy.

I love the Real Estate Guys podcast, and here is their advice. "Live where you want to live but invest where the numbers make sense."

You'll need to decide exactly what you invest for (cash flow, appreciation, cool factor) and what your ultimate goal is (be the awesome landlord, manage the managers, drink mohitos on the beach, etc.). If your local market supports your approach and destination, jump on it. Otherwise, look to other markets.

2 things jump into my head:

1) You get what you pay for. You can't expect that someone charging below standard rates will provide above standard, or even normal standard, service.

2) Nice turn over! I just had a 0-day turnover yesterday. Key turn-in at 7PM on the 31st, new lease and move-in on the 1st. I love the hot rental market!

I think the market there may be similar to what you see in some of the higher priced US areas. You are left either investing for appreciation or investing somewhere else that the numbers make more sense. I have a Welsh friend who purchased a 10-acre farm and is building a cottage on the property to use as a vacation rental.

My personal thought is to do as The Real Estate Guys say, "Live where you want, but invest where the numbers make sense." Search your markets. Street? Bath? Exeter? Wales?