All Forum Posts by: Jack Poole

My wife and I turned our vacation area home into a rental 3 years ago and found great success.  The only thing I would prepare you for is that associated expenses of Insurance, Taxes (property, local and state sales), utilities and property management will most likely be higher than expected.  For example, most insurance companies will not insure a short-term rental and the number of companies offering short term rental insurance is extremely limited and usually 2-3 times the cost.  However as long as you perform your due diligence ahead of time it can be a great way to get started in real-estate investing which is how we got our start.  We now have 6 long-term rentals as a result of our foray into vacation rentals. 

I'd be interested as well.

Hi @Adrian Williams.  I've been targeting areas in 8+ schools where SFHs fall in the 180-210 range, class A neighborhoods.  Usually that means for Atlanta far north suburbs in Gwinnett and Forsyth counties.  

Jack

Thanks for the encouragement @Wave Taylor, @Ron Olivera, @Anthony Nici, @Mark Graffagnino, @Phil Earley & @Charlie Fitzgerald.  It's both exciting and quite a bit scary.  Ready for the adventure though.

Jack

Hi all.  I'm a newbie, been looking for prospective real estate deals for buy-and-hold strategy for about 6 months now in the (far) northern Atlanta area.  Finally found several in one weekend that I thought were prospects and finally crossed the threshold of action and put bids on two.  We've agreed to price and now procuring the loans for both  Feels really great to to move from wanting to get into real-estate to taking those first steps to make it a reality.  We'll see how it goes and wondering if it ultimately turns into "why did I get myself in this position" or "this is the greatest move ever".  :)  

I went with CBIZ after USAA (who I dearly love) indicated that they would only insure through a partner of theirs for about $7.5k/year.  CBIZ was approximately 1/2 of that, but still quite a bit of money.  I would love to know if there are other carriers besides CBIZ/Tudor just to keep the options open.

Hello!  I just found this site after doing a little "real-estate" digging.  My wife and I recently put our lake home on a vacation rental site back in March and were blown away by the response.  Now we have are looking forward to seeing how we can take proceeds and invest in other areas of the real-estate market.  

I've started listening to the BP podcasts, downloaded a book from one of the guests and will complete the UBG this weekend.  Our goal is to get to a point where our money is working for us instead of the other way around and we can leave an independent business for our children.

I'm totally in a learning mode and hope to be for life so I look forward to learning as much as I can from others out here in BP.  I would love to get to a point where I can become a mentor to others after we have lots of great experience. 

Jack