All Forum Posts by: Dan Guenther

@Ben Sauer

Welcome to the community! I admire the ambition. What are your motivations for lending the money vs buying your first property? 

@Brianna Tardi

Congrats on the first deal! If you're anything like me, you are definitely overthinking things. As for marketing, FB market place my top recommendation. Once you post your listing you can join other groups in your area and share the listing there. Legally you will need to keep security deposits in a bank account separate from your personal as mixing business funds with personal funds is called "co-mingling" and not a good practice. You do not however need a separate account for each property, that will depend on how you want to organize your business. 

Depending on the demand in your rental market, I wouldn't worry about paying for professional photos. Just make sure to clean everything up nice and make a clear description of your place and requirements to secure the place (being conscious of fair housing and not to discriminate). 

Good luck, I hope you fill it fast!

@Gustin Schumacher

Welcome to the BiggerPockets community! 

I'm originally from Minnesota and will be missing that classic Minnesota fall this year. Are you planning to invest in Minnesota or out of state? 

If you haven’t already subscribed to the BiggerPockets podcasts, do that ASAP. Look for meet ups in your area (virtual), attend free webinars, start reading as much as possible on any and all topics related to investing and real estate. Use the forums to help you search for the answers to all of your questions. If you can’t find your answers, then create your own post!

Feel free to DM me with any questions.

Good luck and get educated!

@Erick Salmeron

If you are going to be serious about investing, the Pro membership is going to pay off in the long run. You can unlock endless resources including all of the property calculators and the added ability to connect with other investors.

Definitely don't feel like you absolutely need it right this moment especially if your finances are very tight. One step at time and take advantage of all the free resources out there also!

Good luck and let me know if you have any questions. 

@Frederick Robinson

Nice work! Such a good feeling when everything finally comes together. Best of luck on your due diligence process and hope it all works out well for you. 

@Kyle S Ripley

Welcome and congrats on all the accomplishments! I'd recommend determining your average utilities and just including that in the rent. Just explain in your listing, rent will be $700 per month plus $50 for utilities or however much it works out in your area. 

@James Leffew

Welcome to BP!

Use the network tool up top to find professionals in your area. Investing in a PRO membership unlocks more abilities to connect, but you shouldn't have a problem finding local help either way.

Good luck getting that first property!

@Kristi Troy

Welcome to the BP community! I'd recommend getting onto FB groups in your area, also check out the meetup app. 

@Adrian Suarez

I definitely feel your pain. My wife and I just finished our rehab a few weeks ago and finally have it rented out. We were both working full-time 50+ hours a week, coming home and working on the house, and spending every weekend for a few months on the house. We got very burnt out, as your describing. You've got to be honest with yourself and find some balance. For example we set specific goals for a few days a week with a few days during the week completely off from working on the rehab. We also forced getting out of town every other weekend to reset. If your forcing the rehab while burnt out you are sure to start making mistakes and just not enjoying investing in general. Be patient, the house will get done eventually!

@Alex Morehead

Welcome to the BP community! Looks like you have made a great start. I'd recommend you start analyzing deals in your area so when the time comes to take action you already know your market. Keep in mind there are multiple ways to house hack. Duplexes/Small multifamily are great but also can be harder to find. Keep an eye out for opportunities to create more space or add on to an existing property. 

Good luck and keep at it!