All Forum Posts by: James Barnes

Haven't read the rest of the thread besides the original OP's post but I would like to mention how BP mods and speakers have switched from "get creative" and "how to invest with no money down" to all of a sudden putting an emphasis on " Cash Reserves" and not to over leverage yourself...I hope no eager rookies got in over their heads with such advice. I'm sure those topics seemed implied but to a rookie investor its nice to mention over leveraging and being ready for a downturn which I rarely see on here besides just before the storm...

On another note, to be a seller right now the market is insane and in your favor..as you all know I'm sure.

@Nish Desai Sure, shoot me a pm.

@Nish Desai Rental demand is very high here. We have a Naval base that is driving growth. Although, finding deals is very competitive at the moment, especially On the MLS. If you have opportunities such as the one your mentioning and you can get a great deal on it...then jump. You do need to be cautious of the areas you choose to invest in. There are a couple that come to mind that are no-gos....atleast for me.

Let me know if I can help.

Southern MD here, Saint Marys County.

@Christopher Villa I feel as if our auctions around here have a ridiculously high reserve price that is never met. Numbers don’t make sense, I’ll keep at it but for now, no luck for me on auction sites.

My question is how do you follow up with the properties that don’t sell on the site/meet their reserve?

@Scott Donahue Self manage for now. I very much liked “getting a vibe” when I interviewed tenants. As I grow I will no doubt hire PM but for now it’s self manage. Save the 10-12%, although I do believe in making your life simpler and stress free. If hiring a PM does just that and you still have an acceptable amount of cash flow per month then hire out!

@Daisy Ferreiras Aaa-mazing 👊🏻.

@Jerard Graham I keep 10k in my rental account at minimum. That may change once I grow and spread my risk over multiple units but for now, that’s what I keep.

@Daisy Ferreiras What are your numbers after the cash out refi? Cash flow?

Sounds like a great deal. Good job 👍🏻

@Christine Krizenesky

Sounds like your mind is made up. If I could make the same amount with less work I’ll go the less work route every time. Just my .02 cents.