All Forum Posts by: Dennis Wayne

This seems rather unattainable to repeat in many ways best I can tell . What kind of careers did you two have and what your income like ? I assume you had no children and lived frugal ? What are you paying for these vacation homes ? 500-600 grand ?

You dodged a bullet with this idiot ! Covid must have fried her brain . It’s not surprising tho I mean have You ever asked your wife where she wants to eat for dinner as your headed to town ? She will tell you the 15 places she doesn’t want to eat at and a horror story about each restaurant..instead of the 1 she does want to eat at lol indecision is part of how they are wired .

Geez lady just throw a coat of paint in it stop worrying about silly things and move on , yes in a perfect works the tenant would pay for a lot more than they do ..but sometimes you need to just chalk it up to speed bump and move ahead

Your over thinking it and appear to be too risk adverse . You are basing your parameters on a 10 minute drive which is silly to me . Your afraid of buying in blue collar areas makes no sense . Who’s going to get laid off first the office guy calling in the orders from a desk or the fella who actually drives the truck to get the orders ? Who will get laid off first ? Just Get the right folks in during screening and you won’t have many of the eviction issues you are worried about .

Having credit lines goes a big way but you should have liquid cash too which is tough starting out

When your small you’ll need plenty of money I’d say 3-5k per house then

As you grow you can get by with less this is why I tell people if your going to landlord just go big as fast as you can . Get to 10 as quickly as possible ! it actually is less risky contrary to popular belief because if a furnace dies you can absorb the hit if you have over 10k of rental income coming In , if you have a duplex it really hurts dropping 4K for a furnace ! There is safety in numbers

Do this all the time , i usually have the new tenants coming in to clean the place too! Just give them a little discount on the security deposit .

I have found the reality is it doesn’t actually matter where it’s located there’s an ocean of folks in that area that need an apartment unit in every city and it’s only growing by the day

Interesting rise up the ladder ! Just remember to buy right ( that is the key) and you’ll be fine regardless of the strategy . Have many tools in your tool belt . Of all you have is a hammer everything will look like anail . That’s where education plays a key role into success ..Be willing to change strategy like you’ve been doing even if it’s scary and uncomfortable. You should probably be at a point where you should be on the hunt for mobile home parks or larger commercial apartment buildings

I enjoyed that post ! We think the same . Well done sir