All Forum Posts by: Davey Davanoski

Because i want to think to much and long term, i want to plan everything as much as i can. 

I am interest in single family homes, and i want to get as much as possible investment rentals in my time, i am 34 now. 

Is it late to start investing?

I have decided to self manage my first single family property. And my goal is when i grow to more properties, i would like to start my own management company if i can't find proper management firm to manage my properties. I want to learn good lessons from self managing properties and to see what i want, how is done and what will i need from other PM to replace me in future.

Now, how would someone go above the first property? I found a new term - refinancing - and using equity from investment property to get a new one. Is this how people grow their portfolios pass the first one? 

Should i get in partnership? 

Please share your personal experience and tips:D

I hope i won't get flagged as a spammer for asking so many questions. Instead of opening new decisions for everything i want to know, i decide to get this questions in same thread.

I have been thinking and planning to invest in single family homes for some time, couple of months. I decide to invest in single families, because it kinda easy for me to start of as a newbie in real estate investment, before that i was very interest in  multi family  units, because can get very good cash flow and higher, as far as i understand. 

I have been working full time for 6 years and i earn very good salary and every 6 months, i get constantly new offer for higher salary. 

i want to invest 150K euros, it might be small, but this is what i have at the moment. Half of my salary and other is from a apartment, that my parents sold it and split the money with me.

I have an eye of couple of properties in my area. I would like to know what steps should i take before investment.

Should i contact the firm selling this property letting them know that i am interest in? And what should i expect?

When to approach bank for getting investment mortgage? Before or after contacting  that firm?

What steps should i expect to get this property before someone else:?

What is the process of getting mortgage and making the down payment?

Do i need LLC before i get this property in my possession or after ?

How to setup a bank account that the tenant will pay online, so that money should be used for the mortgage, expenses and ect?

I would really need some guide for steps i need to do or to expect when approaching a investment property and closing it down.

I have no idea about financing, mortgage, rentals, interest rates. There are so many terminologies, that i come when listening to podcast and read about investment in real estate. Is there any book out there to learn this thing? To better understand and to know some secrets on the way if possible:D

 My goal is to focus 100% to investing, like you said, finding properties and investing in them. I am not even sure how does property management work. 

When you buy a multi family building for first time or when your decide to grow your portfolio with second, third and so on multi family building. How do you do property management? 

Do you do yourself, and if you do how:? 

How should i choose property management firm? 

Is it bad move to do it yourself? 

What skill or experience i need to have to do it myself? 

Is it worth it? Or its better to assign firm until  your rental portfolio start to grow and to open my own property management firm?

Sorry, too many questions :D

Hey  people 

I would like to brush my math skills for real estate investing, to better prepare myself messing with numbers, etc etc

What kind of math theory investors/you use when dealing with real estate investing?

What do i need to know? Algebra, Calculus, Probability, Geometry? Something else?

I have some many questions, but instead of spamming the forums, i decided to go with this universal question as a title.

I am learning so much from this site about real estate investing. But i still don't understand 1% of real estate and how does work anything, but i will get there, hopefully.

Before i start with endless questions, i will write, right of the bat, that my goal and desire, is to invest, buy/hold in rental properties, (residential), long term.

So. Questions.

Q.1:When planning to invest in a rental building and buy it. Do i need to have LLC entity before i buy/invest in rental buildings, instead of having in my name?

Q.2:When is time  to invest in more rental buildings, and i have previous only one. 

- Do i need to register again LLC for different rentals?

- Can i have all rental in one LLC entity?

- Is it possible to create a entity, that holds all LLC in one name but, still be separated from each other? Like something to hold all those rentals under one roof?

@Christopher Phillips

So all the money you own in rental properties, goes in your Income bank account?

What about to have LLC entity, and i am owner of that entity that poses many residential properties?

I am  very interest   and eager to start in real investing. I just started to read some books, because i  like to read, and maybe i will learn something valuable.  I have seen many articles, saying to start in one thing and become good at it. 

If i ask myself what i am interest in, is multi family ranters.I could have passive income from more people, than going to single family homes. Might be harder, but that is what i am interest in. For now, i am just reading books and watching people thoughts on investing in real estate, pros and cons and different markets. 

But, i am not really sure, how someone gets paid monthly or somehow when investing, let's say in multi-family buildings. That X person have Xs units around the country or a city, so how that someone earn money? Do i need to have LLC business entity, and pay myself employee salary? Or, as a owner how much someone pay himself/herself?