All Forum Posts by: Char Tovar

      @Reece Iovine This seems to be the prevailing opinion, although outside of my comfort zone, I will go through with due diligence and try to keep an open mind. Thanks for weighing in. 

Evan Polaski I do think you are right regarding new construction vs older, better built homes. I will give it more consideration. Admittedly it is a fear factor rather than reality.  Thanks! 

great points and I appreciate the offer to check it out. I will mull this over a bit more. Inspection should be in tomorrow so I will give it a chance...  (not sure what is going on with this font). Thanks!

Michael Hajduk The property is in the Columbus Park area of Omaha. The crime info shows it is in an okay area but would love input on that too. 

I have a triplex under contract in Omaha, NE (an out of state deal) that seems to pencil out fairly well. Problem is I just found there was an error in the original information and the property was built in 1884 making it almost 140 years old. I don't own anything this aged and never thought I would, it is not consistent with my investing strategy but the numbers really would be pretty good (not great). Many people have told me that "this is not an issue if the property has been taken care of". I have to say I am really stressing out about it, especially when it is well known that inspections don't always uncover all of the issues in a property. Any words of wisdom (or warning) from the BP group on this? 

Hi All, 

I'd like to utilize my LLC investing company and market it to find, buy & hold or flip properties in a new state where I just got my real estate license. My broker said I could have a separate business and utilize it along with the brokerage's brand, but I'd like to get some perspective here on the best way to go about setting up this arrangement. Do I need a specific contract or arrangement? Should I get an attorney to do this? Any guidance or thoughts would be much appreciated.

In my prior life I spent a few years as a property manager for multiple apartment complexes in different areas of the city. Some areas had more and some had less of Section 8 tenant make-up, but they were all fairly similar in the experience. The paperwork and government interaction can be onerous and time consuming but generally speaking, the tenants were no worse than the regular tenants in that area. I believe Section 8 affords landlords the opportunity to give back to their community to the degree they can. I had pretty good experience with it overall and now that I am becoming a landlord myself, I wouldn't have any issue with having Section 8 tenants. It really is nice to have guaranteed rent and I enjoy the idea of providing decent and affordable housing to those who might not have access to it otherwise.  

I joined the WA REIA group in January of 2020 thinking I would get started with my investing career in WA (I moved to Gig Harbor in late 2018 and had just house hacked my first rental in my hometown before I left). I went to 1 or 2 events and then Covid hit and shut everything down. Not sure why but the group chose to go completely quiet - no virtual events nor communication at all during that time. (I had paid for the full year). Just received an invoice for 2021 membership and notification that they were restarting now that Covid restrictions were being partially lifted, but I have declined as I have found other groups and venues to participate in - so I chose not to renew my membership. I will wait and see what kinds of things the group offers the coming year when they get it organized and will re-evaluate then. Hopefully they are able to get it on track.

Hi Paul, 

Will you please send me the 22 Criteria as well? Thanks!

Char Tovar

I have been analyzing property by property to find deals and have picked up a couple. Now, I'd like to start looking at how many properties I will need based on what I have purchased and then forecast the difference (# of properties needed/cashflow) to meet my goals. Anyone aware of a tool/spreadsheet/etc. that does this in a simple format? I don't want to spend a lot of time on it, just looking for a rough order of magnitude. Any help would be much appreciated!