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All Forum Posts by: Ian Walsh

Ian Walsh has started 8 posts and replied 2623 times.

Post: How to find partner to form an LLC

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

You can go to meetup groups to find other investors but a partner is like a marriage so it is something to consider when entering one.

Post: First Post: Overwhelmed and can't figure out where to invest

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

I always found staying within a drives distance to a property reduced an element of risk.  Learn your market and identify your farm area.  Once you do the 50 house rule, you would have a very good idea of what a deal looks like and you won't feel overwhelmed.  

Post: Hard money lender

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

Sometimes but not by much and it is usually for experienced investors or higher loan sizes.

Post: Proper way to send notice to pay or quit

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

When we used to send them, we had our eviction attorney send the proper wording for our area.  We just used that.  

Post: Inheriting $400K, what would you do?

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

Pretend you don't have it. Learn your market and learn to market.  Wholesaling is a great place to do that.  Once you do enough deals you will know exactly what to do with 400k.

Post: Lending Options for Foreign Nationals

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

You will want a local lender in that market.  I have someone there that I know if you wanted to contact me.  I can put you in touch.

Post: Hire a property manager or not?

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

It depends on your goals.  If you choose to hire one, be very particular about their processes , knowledge and how they operate.

Post: Does a 40% Down Payment Ever Make Sense?

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

40% can make sense to keep leverage low.  It just depends on your goals and resources.

Post: Feeling overwhelmed and discouraged

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746

Keep going to your local real estate events and focus on the basics. Learn your market and learn to market.  Don't get overwhelmed by complex shiny strategies.  Find the one that fits your personality and pursue it.  

Post: Boost your profits while reducing your property count

Ian Walsh
Lender
Posted
  • Lender
  • Philadelphia, PA
  • Posts 2,669
  • Votes 1,746
Quote from @Arda Bircan:

I don't want 100 or 50 doors. I want the least amount of properties that's making the most amount of revenue and net income that I need for my cash flow goals. It's all about strategic acquisitions for organic business growth. Quality trumps Quantity in STR business. What are your thoughts?

Yes. Less deals and more money.