All Forum Posts by: Dennis Nemitz

I have one in Bridger and one in Forsyth. I might be interested.

Billy, I really like your gumption. I would recommend an employable degree when you start college, so probably accounting. I think it is a good way to begin, but the most important thing is that you just begin and don't give up. And I really likes these books: 1.Who Owns The Ice House by Clifton Taulbert 2. The Millionaire Fastlane byM.J. DeMarco 3. Rich Dad Poor Dad by Robert Kiyosaki   They are not real estate books, but help you think about business and money in a whole new way.

The rental business from my experience has many parts of it that are very repetitive and you still work for other people (Tenants, bankers). I have spent close to 30 years in the nursing profession, and believe it to be one of the least boring jobs available. Also it is a great way to network, and the skills learned there serve you well in real estate. Stick with medical, save your pennies, keep reading bigger pockets and other resources and learn all you can. Then when you have saved enough for a down payment you will be more ready than most.

I did not do an LLC. I have found a couple of advantages. 1. It is easier to borrow money without an LLC. 2. I had to file an eviction suit and was able to represent myself, with an LLC it is required to have an attorney, at least here in Montana.

I am thinking about monthly RV parking. The problem is that people kick up a bit of a fuss about the screening.

Contractors tan, from home depot.

Israel, my two cents is that the first year or two has such a steep learning curve, and so many mistakes to make (and learn from), that I would really try to buy locally so that you have a little more control. I bought two properties, one 45 miles away, the other 100 miles away,  getting the boots on the ground that I need (plumbers, electricians, handymen, etc.) has been a huge challenge. If you have plenty of operating capitol it will be much more doable, but much less profitable. That being said, this whole thing is kind of like a treasure hunt game, so enjoy the game.

I have a 5 spot mobile home park in a small town in Montana. One of the lots is too small to put a mobile on. Does anyone have any creative ideas about how I can utilize the area, 30x50 feet?

It is the nicest park in that town. Mostly filled with older long term tenants.

I have a small mobile home park under contract. The lot rent has been $85 per month for decades. It was just raised this month to $120 in order to sell the park. The rent should be between $225 and $300 to be competitive in the region. I am looking for wisdom about how fast to raise the rent in this park.