All Forum Posts by: Account Closed

Hey @Martin Warren 

It sounds like you and your wife have made smart decisions financially and you have done lots of homework to prepare for investing. I say you make your move when you find the right deal. You especially want your first investment to be as low risk as possible. Start searching for deals and when you find one that looks like a sure win, go for it. Just be sure that you've done lots of due diligence.

Deedee

I agree that Facebook is a great tool. It's pretty cheap and works. Post some good photos and pay to boost the post a little. You will see people liking the photos, tagging their friends who may be interested and asking questions. If you're just starting a Facebook page or don't have a large fan base, pay to promote your page and run some contests that require page interaction to grow your fan base. This will make the posts even more effective. You can see a big benefit from spending as little as $100 advertising on Facebook every month.

Hey Tommy,

The occupancy rate is concerning. I wonder if you could work out some sort of agreement with her to fill the property first. If the market is no problem for leasing and all the units are in good condition, it shouldn't take her long to get tenants in all the units. She will certainly attract more investors if the property is fully occupied. I'm not sure how much interest she has in the building but if you can have her lease up the property with qualified tenants first, you will be taking a lot less of a risk.

She does not need to deny applicants due to children. She could get in some trouble here.

As for the furniture, I would buy it without. I am no expert in antiques but I do not imagine it will help you with leasing and the value of each piece is only worth what you can actually find a person willing to pay for it.

Overall it sounds like you may have found a great deal. Do your due diligence. If you reach a point where you think you've researched too much and asked too many questions, you've probably just done enough.

From my experience, the majority of the time they rent because they can't afford otherwise. Their income and possibly self-discipline prevent them from saving the money they need to buy a home. They don't look very far into the future. They're simply trying to make ends meet and get through the month. I certainly cannot complain about a long term tenant!

Hi Wes,

Sounds like you are involved in lots of projects. I work within the Birmingham metro area specializing in property management. Let me know I can help with anything!

Deedee