All Forum Posts by: CJ M.

@Scott Winkelmann

Kudos for taking the first step...but honestly quitting your job with only 1 rental is ballsy! Unless you have access to a bunch of cash, it's going to be very difficult to get lenders to approve you for a loan/refi.

But as others have said, network and find other successful investors in your area that you can build relationships with. Buy them lunch and pick their brain.

Best of luck! I hope you succeed and have an awesome story to tell one day.

@Ryan Hazelwood

41 yrs old, started at 39, have 24 doors now and working to have 30 by EOY. I started by jumping in head first!

@Kenny Hsu

There are always good deals out there. I've found that those who are always "waiting," are usually the ones who never start.

@Pat L.

Thanks everyone. I cannot prove the tree was rotted. I'm just going to eat the cost, but I did think of another insurance question. If I was to claim this on my insurance, would all of my other policies with that same company be affected? In other words, would I risk the premiums on all of my other rentals going up too?

@Pat L.

Strange! I thought that is why we have insurance. I'm going to look at the damage closer tomorrow. Depending on how extensive it is, I may try and file it with my own insurance company if the neighbors do not want to work out in agreement.

So the neighbor directly across the street from me, had a big chunk of a tree break off during a storm and fall across the power lines and road (and into my tenant's yard). When the tree hit the power lines, it pulled a metal post out of the roof of my rental, as well as the shingles around it. The owner's insurance company, called me and said they won't cover the damage because it was an act of God. To anyone on here with insurance as a background, does this sound correct? Thanks in advance.

@Matt Dixon

Congrats. Numbers?

@Diane G.

How are 3 people going to share 1 bath? That's not even remotely a problem for some renters. I have 2 properties that are a 3/1 and both have 2 adults AND 3 kids living in them. You can't make your mind up for tenants on what is comfortable for them.

@Jared Feldman

If it helps you, I probably average 5 hours/week managing 24 doors.

@Patrick Froehlich

You are never too old for cash flow! I started at about 40 years old, and 2 years later had 24 doors. You're probably much smarter and wiser than you were in your twenties, so hitting your goal could happen quicker.