All Forum Posts by: Grace A.

Looking for a lawyer/firm that handles tax appeals around Atlanta/ Conyers. Please let me know if you have any recommendations. Thanks

Just to chime in— I took the course as well. Mostly to have a structured way to think about the information I needed. BP is great but only if you know exactly what you’re looking for. Otherwise you fall into a trap of moving ahead with lots of blind spots. 
I go back to the course material very often and have found it useful for the hidden/ obscure questions that sometimes come up. 

That said, I’ve augmented the course with just about all the BP published books (Especially Brandon Turner and J Scott’s books) and asking questions or reading the forums here. 

Your first property will probably be upwards of a $100k investment. Spending 1% of that to learn how to do this properly seems reasonable.

At most I learn a lot and augment my knowledge. At worst, I learn a little and still augment my knowledge. 

Hi all,

Question for all experienced investors out there: How did you fund your first multi-family? and what would you do differently if you had a chance?

I want my next property to be a multi-family (~$250k-$300k in GA or TX) and I’m thinking about how to fund it. I can either:

Save up $60k - $70k over the next 2 years (not a huge stretch for me based on current income and savings rate) and then do a standard 20% down conventional loan

Seller finance

hard money lender

I think they all have pros and cons. I’d prefer to be conservative and go with a conventional loan, but wisdom suggests there might be better ways to do this. So my question for all experienced investors out there:

How did you fund your first multi-family? and what would you do differently if you had a chance?

Thanks!

@Joe Cassandra @Bob B. @Todd Ortscheid thanks all. The deal ended up falling through but I'll take your advice into the next one when I'm setting up a new lease. 

To @Larkin Adey's point, definitely start with a Roth IRA (think of all the compound $ you'll get over the decades - i'm jealous!) Also read William Bernstein's "If You Can" which is a free pdf on how millenials can get rich slowly.

It includes a reading plan that has most of the books Larkin's mentioned, but can help you tackle them in a structured way.

Good luck!

Thank you @Joel O. and @Dustin Maxwell. Very helpful. I'll give them both options. $250 non-refundable p/pet or $35p/month pet fee. 

Hi all,

I'm inheriting tenants (month-to-month) in a deal i'm working on. They have a dog but didn't put down a pet deposit when they initially moved in a few years ago.

Wondering what's a reasonable pet fee to charge as well as deposit in Atlanta. Property is SFR with a big outdoors space but the pet was in the home when I did a walk-through which suggests they'll have the pet inside the home pretty often.

Thank you!

Congrats! Would love to hear more about this deal (if you're comfortable sharing)-- I'm assuming it's a housing estate/ something similar rather than 75 across one city?

100% hire a CPA. Many of the big box companies hire anyone, put them through a few weeks of training and boom, they're certified to file your taxes. A CPA will save you stress and $. I filed with H&R two years ago. Turns out they made a mistake with my filing and I ended up paying the govt more than I should have. Had to pay a CPA to refile. Never again.