All Forum Posts by: Corey Woodruff

I personally love the idea of investing in multi family properties because its one property with more than one door which I like. It makes more sense because in my area multi family properties are not that more expensive than single family properties and you can usually( if done right) make more cash flow on them

Listen to podcast 132 with @Brie Schmidt she is very smart and is an active investor in Milwaukee so that podcast is perfect for you. From the podcast it sounds like she deals with lower end multi family properties and has very successful and actually added 50 properties in one year! 

hope this helps

congrats on taking the step and getting into real estate. If you are looking into buying multi family properties be sure to read the abcs of real estate. Ken the author is very smart and really lays it out word for word on how to not only buy multi family properties but also on how to find an offer price that is fair and will eventually allow you to make a profit.There is no way possible you can hold in all the info in that book by just reading it once so read it a couple times before making ANY purchase at all. Trust me you will be thankful you did. That book makes buying a property at a bad price pretty difficult to do. Read the book let me know what you think

hope this helps and welcome to bigger pockets

I wish i could remember the podcast I think it was with Serge but he says in a hot market that to find deals you need to do things that others arent doing. Like going on craigslist and calling ads that are for rent and asking them if they are interested in selling there homes. They may have it up for rent because they just evicted someone. listen to the podcast with serge and its named investing in real estate in a hot market i believe. hope this helped!

good luck

I would figure out how much it is going to cost you to get the non paying tenant evicted and offer the tenant 25% of that amount if he can be out in 7 days! Explain to him also that all of your 20 landlords that you know never rent to someone with an eviction and taking the money and leaving would keep the eviction of his record so he can continue to rent from landlords. That sucks you have to go through that! 

Hope this helped.

abcs of real estate is a great book, it is an all around real estate book but really gets in depth with multi family properties. The book on rental property investing by @Brandon Turner.. I recommend this book a lot mainly because it covers the foundation of investing in rental properties and really gives an in depth look into what to expect and how to handle problems without getting to fancy and making it confusing for the reader. I would definitely start there. For flipping houses, the book on flipping houses by J. scott is pretty well written as well. (not sure if i got the name or the author right though ha dont have it in front of me) 

You could also look to work for an investor in aquisitions, data entry etc.. 

Also look into property management companies that are hiring this will give you a hands on approach in dealing with tenants and dealing with bookkeeping as well as learning typical monthly expenses. 

good luck 

hope this helps

why would listening to podcast 70 lead to an orange jumpsuit? He does everything in a legal way and does his contacts at a loan originator? Nothing in podcast 70 points you into doing something illegal. I think you may have your podcast mixed up.

Hope you got the answers to yourquestions for the refi

I'm going to call around tomorrow

agree with this 100%. very good post. I love when i hear investors say that you have to train your tenants and by that they mean stick to your rules by being firm but fair because the moment you bend your rules or change them for someone that will be the moment they will stop abiding any of your rules. 

good post