All Forum Posts by: Elizabeth Colegrove

Congratulations !! That is amazing and super exciting. 

Sorry you are dealing with these crazy request. Don't you love this part of landlording. Honestly the best thing I EVER did was strengthen my lease. I have 38 addendum's and its over 16 pages long. I have in my lease that keys are my tenants responsibility, that they have to pay for the first $100 of any repair etc. It is amazing when they have skin in the game thing get a whole lot better, and they stopped asking ridiculous questions. It is almost like they respect me more, and I get less of these crazy questions. 

Why can't you get personal mortgage? What is the banks reasoning? We have bought 8 houses in 4.5 years at 28 and 29. we have learned there is almost always a will and a  way. So before I gave up would definitely see why and ask a few more places. We personally have found mortgage brokers have lent to us much more easily than banks. although wellsfargo will buy our loan no problem.

 You are very kind. We are heading to Whidbey Island, Washington end of April. I will be in and out of the area since we have 5 houses and than I manage another 4 for family. I will definitely come whenever I am in town. 

PS- I am always happy to give a presentation and help in any way. Just let me know how I can. Only thing I am bummed about was I didn't find you guys sooner ;)

My husband is active duty. He and I got started investing in single family homes. We are currently working on number #9, and are goal is a multi family or mix use. The goal is to live in one unit and rent the other out. I am also looking into vacation rentals. Honestly, our end goal has alway been the same (early retirement when my husband can retire from the navy (god/navy willing of course) ). From there we have just wondered the path given to us. From self management to single family home etc. 

We got started as 23 and 25 year old on the VA loan. We very little funds, just enough for a rehab if needed so we put nothing down. We ended up being able to fund the repair on our own salary but that wasn't something we anticipated in the beginning. 4.5 year laters after lots of dedication, some lots and loads of crazy we have 8 houses and are working on our 9th.

We buy single family homes so I cannot help with where to look for them but I can say location and elementary school are really important. As too managing our tenants, are lease has been our key to success. The 38 addendum's has helped us keep it from being a discussion to "what does the lease say". 

Here is the blog article I wrote for BP on it. Hope it helps. https://www.biggerpockets.com/renewsblog/2015/10/1...

Congratulations on your success in both real estate and as a CPA. That is super exciting. It is amazing how the things we love can truly blow up in ways that we never expect. I never imaged all the wonderful people and opportunities that would come to me by simply participating in this wonderful group. I know if our current venture we are working out turns out to be a success it was all thanks to this group.

Love you post and thank you for sharing!

@ralf those are crazy rents and purchase prices. sounds like there is expense and liability too!

 Hey bummer I missed out on the Fresno meet ups. I will have to join up with you next time. What nights do you guys meet up?

Very interesting perspective on the cold weather. All of our houses but one is in areas that don't free, the other one is just slightly. It certainly makes long distance landlording much easier.