All Forum Posts by: Eva Machicado

I'm toying with the idea of selling. Just had a real estate agent tell me "there's no indication that we are in a bubble." What say you to this statement? Just curious.

Interesting discussion and points of view. Thanks everyone for their honest perspectives. Lots to think about.Thanks @Rich Lennon for pointing out which page of the Heroes act to look at. I just read it. 

Yes it is a time to be grateful and compassionate as the the others have said in this thread, but I see no harm in your also also feeling and expressing the outrage of having your rights taken away from you (even temporarily) after all the hard work you put into building what you have. I for one have mixed emotions about everything going on.

Hi Damian. I am a newbie investor in the Tampa area. Glad to have you around!

Hi BP Family. I am a newbie who wants to learn more about Residential Assisted Living (specifically). I just missed Ral Nat Con, darn it. If you have any books, conferences, meetups, etc. that you highly recommend, I would appreciate it. Thanks in advance!

One think I learned after making a lot of mistakes on the two rentals I owned in the past - do NOT be in a hurry. If you're getting the real estate fever, just sloooowww down. Trust me, it's super super easy to get yourself into a lot of debt and trouble otherwise. Keep learning and keep saving. I know everyone talks a lot about buying with no cash. It all depends on your comfort level with risk. One thousand is a good start on saving, but I wouldn't be comfortable trying to do anything with that. Having cash to cover your mistakes and keep you out of trouble should be on your list of priorities as a newbie. Personally, I think that's something people don't talk enough about in this business. And when it comes to rehab ... you never know what's behind those walls, better make sure you have the resources or some kind of plan on how you are going to deal with things that come up. That's just my opinion and it's worth what you paid for it. LOL

@Shannon Ludlow hi Shannon, I only briefly saw the details before they got deleted. Yes, send them to me via PM please.

Sure, sounds good.

I agree with what others have said here. You will get a tenant, that is for sure. Making it an experienced property manager's problem instead of yours will help with your fear because they will have the experience and strengths you lack to get it done. You fear because, right now, it is something you haven't done, so your lizard brain will naturally panic because it doesn't know what comes next. 

On another note, if getting a tenant (or not), is going to make or break the difference for you being homeless then perhaps you have over leveraged yourself? If you bought the property 100% cash and had emergency funds aside from that, and had plenty of money for you yourself to live on, then you wouldn't really be worrying at all, right? Just food for thought on the next one maybe?

If people are agreeing to do it, and you've clearly explained everything to them, how can you possibly be taking advantage of them? If your model is working for you, then who cares what we think? (That's 2 cents from a novice. LOL)

@Nick Rutkowski oh wow! Ouch. Sorry to hear that. Yeah, once you make those mistakes you get a lot cannier. I suppose I'm glad it happened on a relatively small scale for me. I have a whole different mindset now.