All Forum Posts by: Corey Woodruff

@Dave Meyer that was great advice well said. I have noticed in the past when I post on the forum I end up getting a colleague request. Well said and thanks for the post. 

Adam Kasal I believe some fail cause they don't put enough time and effort into planning and building a business. Cause ultimately it is a business. My boss and friends told me I was dumb for getting into real estate cause people they know hated landlording but I also know people who have failed in small business ownership and if everyone stopped opening up businesses cause some failed where would we be. Some people fall some don't. But your chances of succeeding are greatly increased by education and hard work

and off topic but how do you tag a bp user using the @ symbol. I see it done but it never links it and turns it blue 

@AnnBellamy your podcast on hard money was really great I learned a lot. I think buy and hold will always turn out more rewarding in the long run. But it does depend on goals and life standing along with having kids or not to pass it down to

very well said. There is a town close to me that makes rentals be inspected before it can be rented. This makes for less competition cause no one wants to get inspections. Personally I think it keeps people honest so I think it's a good thing to an extent. They aren't too strict

thanks for the reply

yes I have to agree with the others this deal. Does not sound like a good deal with only 3.9% return on investment and a cash flow of $61 a month it doesn't seem like this is going to get you to your goal that you want. But congrats on taking your first step on analyzing your property. Well done getting on here and asking others opinion but if it was my deal I would keep looking

my question is how much time and effort do I put into analyzing a market for a buy-and-hold rental. I know analyzing your Market before buying a house is important but should that be a deciding factor and if so why? I know this may be a simple question to some but I'm new

thank you

Corey

if you are going to rent to someone with a pet make sure you tell the owner of the pet to bring the dog to the showing so you can see how it interacts and acts inside the house how the owner is with the dog and how the dog is in your house should give you a good indication on whether the pet will destroy your house or not. hope this helps

yea @GinoBarbaro is right to use rentometer.com but sometimes if you find it may be off look on zillow.com and type in the zip code and it will give you the prices of rentals in your area