All Forum Posts by: Caleb Fledderjohann

@Drake Moser I switched from the stock market to real estate about six months ago.  A couple of pieces of advice:

- Know your numbers.  Have a good idea what you want to invest and what your return would look like.  I always estimate on the low/less attractive end.  Plan for random expenses, property taxes, and income tax.

- Research your market and neighborhoods.  Network.  Find a realtor you trust and a good contractor to communicate and work with. 

- Walk through houses and call on properties you know you might not even buy.  Any time I speak to a realtor or another investor, I try to learn something new.

- Some might disagree with this, but live cheap in your personal life, and divert the money to investments.  I only use cash, no loans.  I don't owe a bank a monthly payment or have to worry about covering certain monthly expenses.  It takes a lot of stress out of the process.

- Odd and ends - check sink and shower water pressure, run hot water to make sure it stays hot, exhaust fan in bathroom, crawl space opened or completely closed off, title insurance when purchasing, have someone present when sellers are moving out so they don't take your appliances that were included in sale, what's the property worth 30 years down the road, annual taxes, know your utilities.

I have some spreadsheet analysis I can share with you if you'd like.  Any other questions feel free to send me a message.  Best of luck.

Wealthfront Cash Account

Thanks guys, I appreciate the input.

I have two SFH rental properties in Lima, OH. I am looking for a possible property manager and handyman/general laborer to connect with. I have a general contractor who does a great job with my larger projects, but I'm looking for someone who can possibly handle lawn care, HVAC issues, and other random maintenance/upkeep jobs that pop up throughout the year.

Let me know if anyone has any ideas or contacts in the greater Lima area.  Thanks.

What does everyone look for during their annual, quarterly, monthly (whenever) walk throughs of their investment properties?  Anybody have a current checklist that they focus on?  Any input, ideas, thoughts?

@Keith Lewis great thanks.  I appreciate the insight.

Thanks all for taking the time to provide feedback.

I just purchased my 1st rental property this month. It's a SFH in Lima, OH. It sits on a crawl space. The inspector report says

"Improper venting was found in the crawl space. This will allow a handle of mildew and mold grow as air cannot properly vent through the structure. We recommend vents be properly installed to allow air flow to move inside the crawl space."

I've been reading online and have found people not venting their crawl space and instead closing it up and insulating it.  Opinions?  Thoughts?

I'm just starting out and looking to make my first duplex purchase.  I would agree with everything Joe said about his criteria.  I over calculate all expenses, I don't want to be caught off guard.  Also, I'm looking at a property in NC that was updated about 16 months ago.  I have a call into the county tax records to find out if I purchase this property, will my taxes increase because of the increase in value from the previous owner updating and upgrading it.

Other ideas to think about:

- If more urban (smaller towns don't seem to use this as much), use zillow and search under the "rent" option to see other rentals in the area.

- Check craigslist and online newspapers for postings on rentals (newspapers helpful in smaller towns)

- I've called the police station and asked about crime in certain areas

- Talk to insurance agents.  I have spoke to insurance agents in MS and NC, and both times they have given me a ton of information on the neighborhood and surrounding areas.

- Find a geographical location that interests you and type that location into the BP search bar.  See who comes up and see what connections you can make through this site.

Just a couple ideas and resources I've utilized...best of luck.

I live in Ohio, considering investing in a SFH or two in Bay St. Louis. Anybody have insight and/or experience with hurricane insurance (cost, coverage, etc...)? Also, does anybody have experience with property management companies in the Bay St. Louis area? Any recommendations?