All Forum Posts by: Debbie W.

I don't know the answer but does it make a difference if it is commercial v residential?

Success certainly takes time. All overnight successes put in years of work to get there. Listen to the podcasts and read everything you can. Take notes. How does the advice line up with your practice? Look at your network. Where is there room for improvement? Are you attending meetups? If not or there aren't any local to you, set one up. Keep it up and you will improve. You have the pieces to make it work. I recently listened to a podcast where the guy was off and running when it occurred because he had all the pieces in order like you do. You'll never win if you quit but if it doesn't work as is then figure out what needs to change. Good luck!

@Brieer Doggett,  BP has great webinars to watch that show how to work the #'s. THe books by Brandon and others are invaluable. Scott Trench's Set for Life has his story of starting out house hacking. Lastly, the podcasts are great. YouTube has lots of the videos plus many others. 

I personally like the idea of house hack if its costs are less than renting and the cashflow covers the bills. You will be building equity. Make sure your credit is good enough to get a decent rate on your loans. I like the creative choices above also. Good luck. Keep us apprised.

Interesting - Following

Interested. Will email

Grade school math itself isn't difficult. i think the questions come up when you are unsure which numbers plug in to the equations. THe BP calculator is helpful. Watch @Brandon Turner webinars and and @Matt Faircloth YouTube videos - They do a great job of breaking down what you're looking for and how it applies. The book "What Every Real Estate Investor Needs to Know About Cash Flow ..." by Frank Gallinelli  breaks down all the abbreviations and #'s. It is a bit confusing at first but helps a lot. Good luck - Don't be nervous - Anyone can learn to do the math.

THank you for your post. I learned from it and the replies. Very interesting. I went to see a house with a finished basement. I mentioned to the realtor doing the open house that they needed a dehumidifier down there. It smelled musty. She said the owner said it was fine. I don't want to go through your scenario.

Congratulations on your first property. Here in NY, the tenant pays for the realtor on a rental. I list with a great local realtor and he handles everything. I show up for his open house and many of the showings just to keep my fingers on the pulse. I let him know if someone feels off so he doesn't bother running them (like someone who had an armed robbery tattooed on her leg. I didn't ask lol). My unit is above average but for average rent. People swarm to the open house but only a few apply when made aware of the financial qualifications. You probably need to lower your rent a bit. THankfully, I've had great tenants since I learned my lesson with my first one. I hadn't known about BP so broke every rule I didn't know about. Stick with the rules. THey are there for a reason.

Looking forward to it. My husband & I will both be in attendance

@ Tzvi Ausubel  - THanks for the offer and I look forward to the blog post. Enjoy your weekend.