All Forum Posts by: Erik Hitzelberger

Thornton's is excellent as long as you are self-driven.  (You need to be as an agent).  It is interactive and they cover the material in different ways so that can learn it well.  You can find info / sign up for the program at realestaterenegade.com and greatwaytolearn.com 

Does the house have a door 1/2 back on one side?  Most of the shotguns in our area do.  The residents use the front room as a br and enter through the side door.  I've also seen people create a hallway from the front door to the kitchen.  (The front door is usually on one side).  This makes the LR and BR smaller, but it creates separate spaces.  I have a hard time believing that moving the kitchen is a financially sound decision.  That's quite an undertaking.

I can't speak for your area, but two of the hottest areas in my market are predominately shotgun homes.  People have been making the layout work for over 100 years.  Don't panic. 

Hi @John M Anderson,

Welcome to BP and, more importantly, to the journey towards financial independence.  My partner and I regularly train local investors.  PM me with the details of what you are looking for and we can talk about whether anything makes sense.  In the meantime, good luck!

PS. I encourage you to join KREIA as well.  It's an excellent place to learn and make connections that will benefit you as you grow your business.

Welcome!  Good luck getting started.  KREIA is a great place to meet other investors, find deals and learn good local information.  I encourage you to join.  I'm more than happy to answer any questions you may have.

Kevin initial question is valid and deserves some thought.  To clarify the 30-day notice, you need to send it 30 days or more before the next rent payment is due.  If you want them out in August, you need to send the notice no later than then end of June.  Once you get into July, your notice would be for September.  Notices do not require signatures.  I recommend you verify this with an attorney.

The only Rule-of-Thumb worth remembering is that all Rules-of-Thumb are worthless. Sort that out later. The point is that you have to invest in a manner that supports your goals. You have an extremely well-paying job and have the stated goal of long-term well accumulation. Purchasing good properties in appreciating areas supports this goal. The PITI payment leaves $400-$650 for reserves (vacancy, maintenance, repairs) and PM if desired. This should be sufficient. Your tenants will eventually pay off the note and you will have a very nice income stream. Under most conditions, you will also have a very nice asset.

Purchasing a series of $40K properties that generate $800 per month with limited to no appreciation does not really support the goal.  Additionally, the management effort will be higher.

The only pushback I have is to reconsider your Prop Mgmt strategy.  Yes, you can manage the home, but isn't your time worth more than that?  Do you really want to deal with tenants on the weekends or while you are on vacation?  Does your job allow you to take time and deal with maintenance issues or showing vacant houses?  Let someone else take care of it and spend your efforts looking for other deals or enjoying your free-time. 

Congratulations on your purchase and good-luck!

Freedom Property Group is expanding and looking for a Property Management / Marketing Assistant

Responsibilities include

1) Administrative - Accounting, Filing, System creation, photographing homes, creating ads and documentation
2) Property Management - Lease preparation, Tenant training, Tenant relationships, property turn-over
3) Property Acquisition - Finding and analyzing deals, completing repair estimations, preparing Scopes of Work, Getting quotes, Submitting offers
4) Marketing - Social Media Management, Direct Mail Campaigns

Training is available for all of the above. Depending on the candidate's level of interest, additional training on landlording, rehabbing, and/or investor marketing can be provided.

Requirements:
Must be organized and detail-oriented
Must have a valid driver's license and reliable vehicle

Preferred:
1-5 Years of Property Management Experience and/or a degree in Marketing/Commmunication/Business Administration
Knowledge of Microsoft Excel and/or Powerpoint
Interest in Real Estate Investing

PT and FT applications will be considered. If interested, please submit a resume or list of qualifications.

Freedom Property Group is a rapidly-growing Turnkey Property Management Company based in Louisville. We purchase, renovate, lease and manage homes that are sold to local, national and international clients.

Welcome Jerry!  Now is a great time to be buying rental homes in Louisville. There are a lot of good deals for both cash-flow and appreciation. I encourage you to get into the game sooner rather than later. 

@Jami Morton - I manage Freedom Property Group -- a turnkey company here in Louisville.  What can I do to help you?  (Feel free to DM).  Regards, Erik

Hi Lakita and welcome to REI! Good luck on your wholesaling efforts. Feel free to add me to your Buyer's list. We are always looking.