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All Forum Posts by: James Barnhart

James Barnhart has started 10 posts and replied 212 times.

Post: Advice on finding a good, ethical broker to work for

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

I think I would interview a few brokers and discuss their RE goals and ideas.  If you are familiar with your town, I would be interested in the Brokers that are doing a lot of transactions and getting their name well known.. 

 I use a Realtor in my town, that has a poster on her wall that says, "If you throw me to the wolves, I will come out leading the pack."

She is making a lot of things happen, not just sitting around.  I like that.

Post: Would you Buy This Deal ? 3 Unit Condos in FL

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

I don't think this is a very good deal at all. First, you need at spend $10k as soon as you buy then, so the real cost is $115k. And, you need to subtract the HOA fee from the rental income, because that is not your money. So, where is the good deal? And, you have to put up with the HOA, which I agree is a PITA.

Post: RE wholesaling in Florida is highly illegal?

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

Interesting....  Well, there sure are a LOT of people wholesaling.  And, many comments on BP say that it's a good way for newbies to get into the RE investing business.

Now, i am wondering if doing a lease/option with a property owner, and then as the leasee, doing a lease option with a prospective renter is legal.  (a sandwich lease).

Do you need to have a RE license to do that?

Post: Rich Dad, Poor Dad is a Terrible Book

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

It is a very good starter book to get the average person to open their mind.  I liked it.  But, it is only the first step.  Then, if some is really inspired, they need to move on to MANY other books on RE and on business.  And, I have found that I have never graduated from reading those kind of books.  I learn from all of them, and I learn from reading all of Bigger Pockets.  

Post: Investing from out of state in Dallas area good idea?

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

How will you manage it from 4 or 5 states away?  That would be a real consideration for me.

Post: Hot Water Heater- Replace or Repair?

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

Definitely get another plumber. That sounds like you are being taken advantage of. And, if you are handy, you can you a replacement element and do it yourself. 

 I know a plumber that says," it's actually a cold water heater, because hot water doesn't need to be heated."

Post: 14 Reasons You Must Consider Owning Rental Properties in 2017

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

This was a very well written post.  We probably all agree completely with this.  Thanks for writing it.

Post: Federal Pacific Panels

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

Yes, I had to have my FPE panel box replaced because we were having short power outages almost daily.  They were the problem.  My wife was worried that the house might catch fire.  

Post: How do I reject a tenant who meets minimum standards?

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

Can't you just select a better qualified tenant?  I always get several applicants and choose the one with best quals., and that I get the best feeling about.  

I had a man that wanted to write me a check immediately to rent it.  I told him that I had other applicants coming and I would decide tomorrow.  He said ok, and the next day, I did chose him.

Post: Inherited tenant says no to rental increase

James BarnhartPosted
  • Rental Property Investor
  • Ocala, FL
  • Posts 226
  • Votes 140

I agree with you, John.  

And, if I was going to raise the rent amount, I would do it for more than $15.   I would explain that since my costs have risen, so an increase is necessary.  They understand that.