All Forum Posts by: Eric Ippolito

@Andy Basler only 19k per week, huh? 1st world problems! Haha sorry 😂😂

@Will Kenner I’m still learning, and something caught my interest in Your post—you visited the property after your offer was accepted? If that’s true, what contingencies did you put in the offer? What if it needed a lot more repairs than you could tell in the pictures?

Living in LA, I’ve been to dozens of rental properties and most look worse in person than online. I’m interested in out of state rental properties, but worry often about this being the case.

So, when is the right time to fly out without accumulating too many airline miles? 🤔

@Israel Gabriel Martinez

Congratulations on the free college! If you’ve read Brandon’s book, Rental Property Investing, he talks about doing it as a job, or to gain passive income. I’m a Project Manager and love my line of work, and would rather utilize investing as passive income, while I employ the help of property managers and contractors etc. So if you want to do this as a job (doing the fixing yourself, managing the properties yourself, etc) then go that route.

If not, study something for a career that you could do to help you earn capital or that would help your investment leanings. Business Administration, for example couldn’t hurt.

Lastly, the one thing I’d attest to, is figure out what the hell you really enjoy and want to do for a long time or the rest of your life. Sounds like you have a great chance to figure that out now. Discover what your dreams are and make it happen. Who says you can do that and real estate investment?

Good luck, you can do it!

@Mike Franco wow, that’s awful. Did you have to cover those costs all yourself, or is negligence here covered by the tenant or insurance?

@Kevin Wood wow good insight. Did you need to get your real estate license to get access to the MLS?

@Burke Ericson thanks! I’ll give it a look. $60k is a safe price range? Are those generally elder properties?

@Herndon Davis really appreciate the advice and heeding. I’m certainly open to many areas, including cities in Texas other than Dallas. I’m slightly familiar with Austin and Houston, for example.

@Rosaria Pipitone

I’m new so take my comment with that grain of salt. But could you possibly get them to sign an extended 2-3 lease and put money normally for vacancy aside?

@Crystal Smith thank you for the suggestion! I didn’t think of this, but am in the process of getting pre-approved for a house here in LA. Will I need to do a different pre-approval loan application for rentals?

Reading Brandon’s explanation of the multi-family triplex plan and it all sounds great, but where do people even find duplexes and above? Especially for 100k-200k mentioned in the book? I’m using Redfin and Trulia (Zillow doesn’t really show multi units), but most of these are half duplexes.

I’m mostly looking around Dallas, Indianapolis, and Chicago, but aren’t really seeing it.

I’m new and doing my research and super open to suggestions. Planning to fly to Dallas or Indianapolis and meet with some realtors and would love to scout of multifamily homes as a possible first investment. Suggestions?