All Forum Posts by: Dan Travieso

Looking for recommendations for a contractor in Fayetteville, NC to remodel kitchen. Need new cabinets, countertop, paint, and vinyl flooring. Who have you used and recommend?

Welcome to the exciting world of Real Estate investing! The great thing about real estate is that there is an infinite amount of strategies and always one that works depending on where we are in the market cycle. Since you are looking at purchasing a rental property I would assume you are wanting to hold it for a few years. That puts you in a GREAT spot because you really do not need to worry about when the market is going to drop since the value of the property isn't important until years down the road when you want to sell. All that matters now is will the rent you bring in be enough to offset your expenses and mortgage payments. Of course some positive cashflow would be awesome but lets say you buy a property now that is cashflowing ~$200 a month but the rental market crashes next year and rents drop $50. Doesn't matter to you because you are still building equity by using your rental income to pay the mortgage and are STILL cashflowing $150. 

Analyze your leads and focus on the numbers. Don't worry about when the market is going to cool off.

I wouldn't raise the rent quite yet since you are getting calls and are scheduling showings. If you weren't then you would want to drop the price a bit. However, since we are approaching the beginning of the month folks will be making their final decisions this weekend so you may have to drop it after this weekend if you don't get a bite.

@Dianna Giraldo

Dan Travieso is inviting you to a scheduled Zoom meeting.

Topic: Fayetteville Investors Meet-up

Time: Apr 29, 2020 07:00 PM Eastern Time (US and Canada)

Join Zoom Meeting

https://us04web.zoom.us/j/76660891813?pwd=ZFB5cGwzRFdTY2hYY09Ha2JUb1BaQT09

Meeting ID: 766 6089 1813

Password: virtual

First virtual meetup of real estate investors in the Fayetteville, NC area. Connect via Zoom:

Topic: Fayetteville Investors Meet-up
Time: Apr 29, 2020 07:00 PM Eastern Time (US and Canada)

Join Zoom Meeting
https://us04web.zoom.us/j/7666...

Meeting ID: 766 6089 1813
Password: virtual

April 29 at 7pm

Don't let COVID-19 stop you from networking! Join us for the first Fayetteville, NC Virtual Meetup and meet others like minded individuals. This meetup is for new and experienced investors alike and will have an open format to allow folks to ask questions. No sales!

Fayetteville, NC investors only please!

The right answer would be to direct your contact to your agent. You don't want to get the label of cheating agents. Perhaps you can negotiate a lower commission with your agent since you brought the lead to her. Most agents are flexible but none of them like to be backdoored.

Take the opportunity to educate yourself via books, podcasts, and forums (such as this). Too many folks are too eager to dive in that they rush and jump on horrible deals. Education and developing a system is needed to build the foundation of success. Remember, it is not just about investing money, you need to invest your time on activities that will increase your ROI. Education is step 1.

You should be able to go to any real estate attorney in order to have them provide a lease. For an additional fee they will usually put together a template you can use for all future tenants so you don't have to go to the attorney every time. I did my own research and created my own forms for the other documents you may need as a landlord (rental application, move in/ out inspection form, orientation (rules, expectations, etc.), late notice, etc.