All Forum Posts by: Alex Olson

@Daniel Lozowy how big is the list? I would call all of them on that list. If you get a mobile, sent a text a day or two later. Follow up every 3-6 months.

@Parag Doshi not sure where you are located. But usually 20% down unless FHA owner occupied or vacation home. Sometimes 25% depending on loan type and if it is a MF deal.

@Michael Wegner make any tenants who are having pets pay a hefty deposit and make sure they get renters insurance.

@Jade N. No one knows. Best comparison is 9/11. Short blip and then back in business. People will need a place to live. Government assistance programs will be available. Planning for some vacancy is normal. Bump that up a bit and you will be fine. Assuming that your modeling is good.

@Connor Streit the town of wahoo!

@Michael Morin You would need 20% down for investment property. Maybe even 25%.

@Michael Morin Hey - you would have to sell your other house or rent your current house and buy a duplex, creating your house as an investment property and then living in the duplex under an FHA loan. Talk to a creative bank in your area to get it done. If you can cash flow your current house based on rent, you should be able to make it work financially especially if you buy the duplex right.

@Michael Morin My advice is to either a) save up money to buy a duplex and live in one side and rent the other. That is the best way to get started. FHA has loans that you should qualify for. If not, keep working on your credit score and keep saving. If that is not an option for you, if you have a friend or family or anyone on your linkedin network that has done it - take them out to lunch, get drinks, coffee, or whatever and do work for them for free to learn how they do it. From there,

@Christopher B Leab I would make it part of their rent as a bill back - a flat rate though. That will at least cover some of the rediculous cost. Also charging s higher rent in general helps. Finally, you can have water company come out and audit water usage. Maybe a leak some where.

I would suggest saving up for 20-25% down payment on a duplex or fourplex. Live in one unit. Then rent the others. Over time, cash out of that property and refinance into a new FHA owner occupied fourplex until you reach a point that you can no longer self manage or can't live with neighbors :). This will put you on a path to great wealth. Be a bit patient in acquiring your first property to where you know that the rent from the other tenant(s) will cover your entire mortgage on that building. This is the advice I wish I could have given myself 15 years ago.