All Forum Posts by: Isaak Brown

Originally posted by @Andrew O'Kane:

@Richard Sherman @Isaak Brown all great info guys and appreciate the resources as well.. lot of digesting to do tonight! By the way, love the comment about lowing expenses typically is a habit that sticks w/ you long term.. I fully envision that being accurate w/ how my mind works. Clearly worked well for you Isaak, would not have believed $25k was possible in the Bay!

 It is part personality, part clarity. I definitely had a low-consumption personality already, so the low-expense thing really worked for me. But then when I understand the math and the opportunity, it made it even more powerful.

The other thing to remember is that we make plans, God laughs. On paper you may be absolutely right about the number of properties you can purchase and they money they'll bring in...but then find that you hate it, you can't do sales another 5 minutes, or whatever other fun chaos life will provide. The best thing that worked for me was to plan for everything I could, then pull the trigger. I'm sure we all know guys who have things worked out on paper for years... and never pull the trigger. Once you have a plan that feels exciting, test it out!

Originally posted by @Richard Sherman:

@Isaak Brown Look at you!  NO way you can buy in a crazy market like the bay!  ;)  JK, it is funny to hear all the reasons people cannot buy...when they just have to work to find a deal.

That's so right... read a forum post here recently where folks were apoplectic at the idea that you could get a cash flowing property in the Bay. But hey, what you believe becomes the truth, even if you don't like it!

I know I'm such a Californian to love Portland! I am PM'ing you now, definitely want to connect.

@Richard Sherman Nice resources... excited to check out 1500 days. Yes, I am lucky enough to have two rentals here, looking for a third. I was just in Oregon last weekend drooling over the prices up there. I hadn’t considered distance investing, but reading your post and seeing the market... maybe I should!

@Andrew O'Kane.. @Richard Sherman is giving you phenomenal advice. Have you read any of Mr. Money Mustache? Www.mrmoneymustache.com I used to worry that I couldn’t have any fun living on $25K a year so I could save $75K for investing. I thought, like most people, I needed to spend money to reward myself for working a lot. Like Richard says, you can and should have an awesome life... you just don’t need to give up early financial freedom for it. I saved aggressively (living on $25K) in the Bay Area. Rent included. I now own two rentals that are cash flowing and cover my living expenses. Now I work for fun. I got super fired up about financial freedom, and suddenly spending money seemed crazy in comparison to getting another property sooner. In my experience, mindset is key. Also, the awesome thing is, if you reduce your living expenses, they usually stay down... it’s the best long term investment you can make. I can afford to spend more now, but I know it doesn’t make me happier, so I just keep having plenty of money to spare.

@Wiley D'Spain You could look, but I think you’d be happier with an entry-level job. Find good people who you like and like you. Internships tend to be for places that don’t have lots of entry-level opportunities, but I think you could find some easily. 

@Wiley D'Spain The great advantage to being young is you can gain experience while your labor is still cheap. It’s much harder to go back to learning when you’re 30 and expect to be paid $50/hr than when you’re 18 and thrilled for a deal. See if you can assist a local real estate agent. See how you can help, find solutions, and learn. If you’re a good employee you’ll learn and earn and be ready to go by the time you have your license. Confidence is 90% of influence.

@Reggie Maggard I just did a video showing for the first time, but was clear I expected lease signing, etc to be in person. The tenant couldnt make it to the open house, but was eager to rent. I walked her around on FaceTime and she applied, was a great applicant and is now moved in. Her roommate and I met in person to sign the lease, and everything else was digital.

@Jess White Surprised no one has mentioned Zelle. Hits account day of, direct to account, no charge. It’s been great. And if I’m feeling generous, I can remind a tenant by sending them a request. As mentioned, tenants agree in lease. All they need is your associated email address. Only drawback is you must work with a major bank to receive, but I dont think to send.

Hi there,

I have a four unit building. The top unit has 2 tenants who moved in in April. Below them are 2 tenants who moved in last October. Top Tenants complained last month that Bottom Tenants are putting their trash in her trash bins. Bins are labeled for each unit. I responded that it's her responsibility to speak to the bottom tenants about that.

Top Tenants contacted me about a separate issue today, and reiterated that they're having a problem with Bottom Tenants filling their trash bin and she she isn't comfortable talking to them because they have had another issue with them  about parking (I don't know about that). 

My policy is not to get involved in these disputes. I was clear last time I responded. But I want to make sure I'm on right ground not getting involved. Any advice on how to reply?

You’re right - you can no longer reject payments with quickpayor Zelle, but you can return the payment using the dispute center. 

My attorney said in CA, immediately returning the funds deposited by Money order with a letter indicating rejecting rent with suffice for eviction.