All Forum Posts by: CJ M.

@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.

@Kelly Claiborne

There are a lot of comments on this post, and I can't read through them all to understand what the consensus is, but my guess is it is fear. But, that's what separates most successful investors from the mediocre investors from my experience.

@Tom Kaser

This might sound harsh, and I am empathetic to your tenant's situation, but...it is your tenants situation. Theft happens in A, B, C, D, E, F, G, H, I, J....neighborhoods. If you have a bleeding heart in this business, you will not succeed. Show empathy, but ask your tenant to add additional coverage to things like his tools in the future. If your car was broken into, would your tenant help you?

@Wesley Acevedo

It's not up to me. It depends on the lender. Some smaller banks keep the loans on their own books and don't report them.

@Ryan Keenan

No

@Tyler Williams

Congratulations on wanting to take the 1st step! That said based off your question, (and please don't take this the wrong way) it sounds like there are a lot of the basics you still need to learn. My recommendation is to take a deep breath, take a step back, and listen to as many podcasts from bigger pockets as you can, join your local real estate investors association, and network as much as possible. Save as much money as you can in the meantime, so once you are more educated and find a deal, you can jump on it!!

Also, just food for thought, if you are making that kind of money at such an early age (kudos to you!), there is probably pressure on you to perform...especially since it's a new job. Because of that I would be very careful about how much time you are taking away from that job by doing rehabs. In other words, the last thing you want to have happen is to lose that job because your focus is elsewhere.

Anyway, best of luck!

@Nina Granberry

Thank you. The rehab was done right before the pandemic hit, but the refi just closed last month in the midst of the pandemic (portfolio loan). The 5 yr arm is for the 20 yr term on my refinanced loan (if that answers your question?)

@Allan Smith

Agreed