All Forum Posts by: Dan Travieso

Madood - Welcome to the real estate investing world. I would strongly recommend that you attend meet-ups, REI groups, etc. to network. Nothing beats face to face interaction when it comes to growing one's network and learning from others. Louisville, should have plenty of options. You can simply google "real estate meetups in Louisville, check Facebook, Instagram, and even the Biggerpockets site has meetups listed.

You can find network/ mentor opportunities much more efficiently by doing a bit of research versus posting a question and relying on others to give you the answer :-)

Wow! Looks like great numbers! How much did you have to spend in repairs?

Well said. I am not sure whether it is inexperience or laziness (perhaps a little of both) but I see too many investors simply take the word of another investor or seller versus developing their own "Buy Box", conducting their own estimates, and only buying if the deal fits within their box. 

Attend local REI or real estate Meetups. Should be plenty of investor friendly real estate agents present for you to network with who will be the best resource to learn.

May not help you with your current situation but may for the future, especially if you start growing your portfolio and manage more of your own properties.

One of the many advantages of networking by attending REIs, etc. is to find out who other investors and property managers use for handymen, electricians, plumbers, etc. As I hear who folks are using, I add them to a spreadsheet. Now a days I have hundreds of vendors.. everyone from electricians, to trash cleanup, insurance carriers, HVAC repair, landscaping, etc. Whenever I receive a workorder I look at my list and start calling. If the first repairman is not available I go to the next name on the list. A little bit of up front work now makes it very simple to deal with maintenance issues as they arise.

Good luck with your current situation but don't wait too long to start planning for the next.

Welcome Richard! Take a look for real estate meetups in your area as they are an excellent place to network! Good luck in your career.

depends on your investment strategy. If your strategy is high cash flow then refi may not be the best option since the cashflow will decrease. If cashflow is not the priority right now but acquiring more properties is, then a refi may be the best option so you have a nice chunk of cash that be used to purchase something else.

If you go the refi route ensure you do the math to ensure the new monthly payments don't result in a negative cashflow on your property.

Historic districts can definitely be tricky when it comes to insurance. Simplest solution would be to contact the owners of other properties in the district to learn who they are using and rates. Usually owners in historic districts are close knit and are willing to help.

My OPINION... Now is not a good time to mess with Adjustable Rate Mortgages (ARMs) because interest rates will continue to rise. With 9% inflation there is no telling how high interest rates may go. The safest bet is to lock in a fixed interest rate so you don't have to sweat every month when the Fed raises the rates.

Jacob - attend local REI/ Investment group meetings. You can network with many investors who may be able to provide you with opportunities to learn.