All Forum Posts by: James Wilcox

As looks to be the direction, I would look into a credit union because their focus is about building wealth for their members. They usually have the best ROI for saving. One thing you might look at is what is called a Money Market Account. This is like if a checking and savings account had a baby. You usually get a bit higher interest than savings but do have limitations.

Features of a Money Market usually are:

• No monthly service charge
• Higher interest than savings
• Free Notary Service
• Checking account privileges
• Access to your money when you need it

Disadvantages of a Money Market usually are:

• Limit on amount of "free" withdrawals you can do a month (usually around 6)
• Minimum balances
• Maybe direct deposit required

Sometimes there are also types of savings account that pay better as well. Like a "vacation savings account" that is meant for a vacation trip that the CU will give a bit more interest for. Just a thought and hope this helps. @Joel A.

I am looking to pick up my first duplex. Both sides are currently rented out and I was told the rent was the following.

Unit A) 850/month

Unit B) 800/month

However, this seems high to me based on the area. Not saying it is not possible, but my first impression is something like the following. ($100 difference)

Unit A) 800/month

Unit B) 750/month

My question is how do I "confirm" what the rent actually is? I don't want to just take their word for it. Can I ask to see the rental contracts or past rental prices? Place does look like it may have been renovated recently so that might explain for a bit higher rent.

@Joe Marcum Awesome! Thx I will maybe check it out.

Hey! My name is James from Lexington, KY. I am new to the game of real estate investing. I have one rental property in another town that I sort of fell into. I worked really hard on turning it around and turned it into a nice income stream. I am now looking to focus on getting some properties in my now hometown of Lexington. 

Can't wait to be a bigger part of this community because BP seems like a great place to be! 

If you are looking to hire a new property manager for your real estate what are some of your top questions you would ask them to see if they are right for you? I will start out with one.

How many properties do you currently manage and how long have you managed in those areas?