All Forum Posts by: Eliott Elias

 Even if that is the case, to have a new contractor pick up where the old one left off is a nightmare on its own. 

 It depends on the zip code, bed bath, sqft, etc...

I am renting mine anywhere from $1,500 - $1,900/m

 Hi Bruce, you are correct. There are many projects that fail due to the investors errors in running numbers and newbie status. I can also tell you that every investor I know has had a contractor run off with their money and ghost them. This may be because the contractor was chosen incorrectly, but to say this is not a risk is naive. 

These are all great reasons. Unless paid off, it takes over 20 rental properties to create passive income (assuming they cash flow). 
Contrary to popular belief, single family rentals are the furthest thing from passive. Even with a property manager involved. They demand your attention constantly with turnover, evictions, make readies, missed rent payments, etc... 

 This is not to shed doom and gloom, this is to set realistic expectations. 

Bird dogs are not easy to come by. They typically don’t label themselves as Bird Dogs either. They are typically neighborhood locals who just understand the neighborhood and have a close pulse on what’s going on.

Hi Mei, I do business in Houston and would love to connect. Hoping to buy some more single-family deals out there!

Let me ask you this, why do you want to get into rentals? Is it the cash flow? Is it the appreciation? Have you heard countless gurus tell you that rentals will make you rich? Just curious.

What causes 99% of projects to fail is contractors with fix and flips. They are extremely inconsistent and require most of your attention. Choose them wisely. There are tons of tutorials and resources on how to choose the right contractor and red flags to look for.

Wholesalers are typically leaving no meat on the bone for investors, you are correct. But what is the profit margin you are seeking? And how are you determining rehab costs and ARV's?

The best partners come about by looking for relationships, not partnerships. If you can get along with that person on a personal level, then you should explore a partnership.