All Forum Posts by: Jay Oldham

@Eric Belgau is exactly right. I'm a former insurance agent and I partnered with property management firms and landlords b/c the renters insurance was a win/win. The customer gets his/her property taken care of in the event of a covered peril and the property owner is taken care of in the event the tenant is at fault. With prices starting from $4 up to around $20/mo, it's a no brainer. You can require it, it's additional paperwork to review annually but it's well worth it.

@Arthur Banks it's a good idea to require them to get renters insurance because a lot of policies come with a personal liability and if you're the named payee in the event of a liability claim, you are able to recoup losses in the event of a judgement where they're liable (i.e. damage to the property b/c of grilling wings on a balcony).

@Bill Mitchell

I did that math in my head and it's wrong. That's why they make calculators :). I checked it in the Bigger Pockets investment Calculator and here's where I messed up in my considerations:

Rent Amt: 800

Years Held: 6.5

800 x 12=9600 x 7 = 62400

I didnt take into consideration the loan costs, of the remaining amount. I said putting 20k down on 60k houses. there's still a 40k loan. Sorry if I mislead.

C.

I think buying five rental properties at, lets say, 60K w/a 20K downpayment would get me a decent return. If I could rent those properties for 800/mo I'd make my money back in 2.2 years and pay off the loan in 6.5. If at any time before that the property appreciates, I could sell the properties for a profit.

Not sure if this is what you're looking for but try this:

• Real Estate Finance I - iTunes Video - Joshua Kahr, Columbia University
• Real Estate Finance III - iTunes Video - Joshua Kahr, Columbia University

Hi Chanel,

I'm getting started as well as a wholesaler. I plan to get into fix n flips, as well as rental properties but I'm learning the game this way. I have previous business experience as an insurance agency owner for 4 years and am using some of my marketing knowledge to apply here. I'm doing this part time but hope to have a deal or two closed in the 1st quarter of 2014. Good luck to you.

Good luck! Let us know if you close that sucker down!

Hello Nashvillians! I'm in Nashville as well and a budding investor/wholesaler. Always looking to connect with others!

I'm quite new to REI. Has anyone ever considered wholesaling tax liens prior to the sale? Of course, that's given that the tax lien is the only one on the property.