All Forum Posts by: Dave Van Horn

@Brandon Duensing

Biggest expenses to be mindful of are the more obvious big ticket items. So usually the roof, plumbing/heating, and electrical (especially old wiring like knob-and-tube).

The more unexpected stuff is structural or septic issues, asbestos, drybit, things like that.

Got a lot of ideas on this since we buy out of state & bulk REO property/vacant 1st mortgage tapes. We're always trying to find the best of the following, so a (relatively) nationwide database of these types of companies would be invaluable:

- Law firms (Real Estate and/or Foreclosure attorneys)

- Investor friendly Title Companies

- General Contractors (grass and snow maintenance can be difficult as well, so landscaping could be a worthwhile facet of this too)

- REO Agents

- Property Preservation Companies/Mold Remediation Companies

- Alarm Services

- Tax monitoring services

- Investor friendly insurance companies

To build off Mindy's point, there is an Option 3 here and that's invest IN debt :)

Might not be worthwhile until you learn more about the real estate space and get a deal or two like that under your belt, but just to give the thread more perspective, investing in mortgage notes could be a worthwhile fit for a similar situation. Re-performing notes act similarly to hard real estate in terms of cash-flow but without the maintenance or tenants of hard property. You're really just assuming someone's mortgage and instead of collecting rent, you're collecting a mortgage payment for the life of the mortgage (15-30 years, unless they cash out early).

Now it would depend on how much capital or access to capital you have to outlay since notes are capital intensive but in essence it's really just this: instead of using your out of pocket capital to pay down your debt, you buy debt like cashflowing mortgage note and you utilize that arbitrage to make your credit card/loan payments. Then ideally, once the debt is paid off you'll still have a cashflowing asset at the end of the day that you can keep collecting payments on or sell.

@Account Closed

I think the earlier you see a financial planner, the better. A lot of their advice is based on how much earned income and assets you currently have but it also can involve estate planning, tax strategies, and asset protection which can be pivotal early on. It's also important to note that your financial planning needs can vary dramatically with your age and investing timeline as well.

Real estate itself is really just a strategy, one that tends to be long term with a tax advantage piece which is very important but really just one piece of the pie.

For me personally, financial planners compensation can determine the quality of advice in my opinion. I've had more constructive experiences with a fee based/hourly based planner as opposed to on compensated based on assets under management.

Planners associated with infinite banking (which is a technique that can be employed early and help speed up your investing) and real estate investing experience are probably a better fit for what you're looking for too. Just something to keep in mind.

@Ashley Wilson @Liz Faircloth

Meant to comment earlier but thank you both for the opportunity, we're so happy to have PPR be a sponsor for what's surely going to be a great event. I know a few of our team members are excited to attend!

REI is a big arena with a lot of different facets but I'm assuming you're looking to do SFR buy and hold and/or Fix and Flip. It's also dependent on your role of active vs. passive, how much capital you have access to, and what role you're looking to do.

Either way, for fundamentals I'd recommend:

- Buying Real Estate Without Cash or Credit by Peter Conti and David Finkel

- The Landlord's Survival Guide: How to Successfully Manage Rental Property as a New or Part Time Real Estate Investor by Jeffrey Taylor.

@Benjamin Sklar I haven't used it before but at a glance it seems like it's definitely a step in the right direction. But if you notice, even with the amount of transactions they've done there are still many areas (including some whole states) aren't able to utilize their services. The issue is it's a localized challenge since not all courthouses are online.

also not sure if I know any dev shops that focus on real estate companies only but I'm sure they're out there.

The easiest that comes to mind is a more deregulated MLS that's for everyone.

I get they have sites like zillow or redfin but we all know how accurate that is in comparison, thought it's getting better and better everyday.

Another one that's missing is a streamlined one stop shop for online closings, insurance, auxiliary services, etc. No one has connected all the dots, but I think in light of recent events it's likely on it's way.

Speaking as a landlord and a former painter myself, going from B+ to A+ is probably one of the easiest (and cheapest) things you can do that could make a world of difference for potential tenants. It's why nearly every apartment complex does this when they have any turnover.

Remember it's not just appealing to the eyes but it can also give that "new apartment" smell and presents an overall cleaner interior.

Hi @Bradley Ritter, appreciate the interest. No longer offer the course but if you have any specific questions feel free to Private Message me.