All Forum Posts by: Cole Baker

Jorge, Thank you for this insight. As simple as this sounds, I particularly loved your encouragement to "get all the answers you need to make an educated decision". 

Quote from @Bjorn Ahlblad:

Screen your tenants scrupulously. With new tenants my wife inspects at day one, six months later and annually after 12 months. We keep hot water tanks, hoses and some fixtures and hard to find stuff on hand.

Try to deal with the same trades so you get to know them and they get to know your property. Have a handy/woman/ man within easy reach. Our handywoman is a great asset; painting, tiling, caulking, cleaning etc.

 Incredibly insightful with the specific items to keep on hand and how actively your wife screens the tenants. Thank you for this, Bjorn!

Quote from @Spencer Gray:

We have increased our organic marker rent growth in earlier years to account for current inflation and have also increased our expense growth assumption from 2% to 3%. We're also starting with higher payrolls and higher rehab costs. 

We're also looking at more lower leverage fixed rate agency debt vs. floating bridge at the moment.

Spencer, thank you for this.
 
Question for you: Are you looking at lower leveraged fixed rate agency debt because bridge lenders are "scattering" (not lending), or because of the opportunity for risk mitigation against rising inflation with fixed rate agency debt? 

Hello Sean, 

I am in the same boat as you. An individual I have gravitated to for knowledge (who was on "Tribe of Multi-Family Mentors") is Robert "Rob" Beardsley. 

His content is more "in the weeds" so to speak; however, the content is digestible and immediately applicable. 

Caroline, thank you for your response! Incredibly insightful. 

Hello! I am starting my real estate investment journey. I am beginning to learn about pricing a rehab for a flip. Based off past experience in the Fort Wayne area, what do you all expect the cost for a contractor to remove wall paper and subsequently paint the walls? 

If you do not know, has anyone found the rehabbing book that BiggerPockets promotes helpful? Other resources?