All Forum Posts by: Farris Gosea

Hey,

I am more than happy to help and answer questions, shot you a DM. 

@Nathan k

@Nathan Killebrew hey Nathan. Great post. Yes this will happen and you will definitely drift away from people not like minded. I am 25 with 8 rental units and half mil net worth and all my friends are between 50 and 70 lol. The people you hang out with will change because you enjoy discussing different stuff than the usual college kid set out to party through their 20s and not work hard. Good for you and good luck with everything. Would love to connect with another young person who loves real estate, so feel free to message me here anytime!

Farris. 

Facebook is the WORST place to find a qualified tenant and one that is actually interested in moving in. Same happened to me. Go to Zillow and post your strict screening guidelines so you don't get people wasting your time. 

If you want the simple guide.

Buy a place where the numbers work. 

Rent out the house to a qualified tenant, screen them - credit /background check. Verify employment and salary. 

Solid lease that is applicable in your state, find online easy. 

Collect rent and deal with problems and repairs as they come. 

Other situations just handle as they come. Different deal with different things depending on what they are renting - type of area, type of building etc.

Main thing is find a good deal on the property and make sure the numbers work. 

Definitely not as hard as people make it sound lol. 

Hey guys!

New to the platform and am enjoy reading the blogs and listening to some podcasts! Myself and my wife are currently 25 and 22 and own 8 rental units, we would love to connect with other young investors on this site and hear other people stories!! 

 I agree one small rental making a few thousand isn't worth the hassle and time, you need 20 rentals and then yes quit your job and keep buying rentals until you have 1000 hire a manager and go chill on the beach. 

Wow, I would not do this deal at all. This is not very good cash on cash, after leverage returns on real estate should be somewhere between 15 and 25% not 7%. I would be scared and also, if your right there, DO NOT waste money on a property manager. Do it yourself. Its 2 units not 200

Find a job and starting working to build income. Need money for real estate. Price tag of entry is not cheap 

Don't buy it, way better deals to be found, just chill and find something else.