All Forum Posts by: Jason C.

@Brad T.

I am familiar with Lifestyles, went to their 2 day class, and it was very informative. The HML to Conventional route presents an opportunity for more investing with the limited cash we have on hand, something I am sure all investors struggle with.

I am not sure I'd recommend the online option, since the list of contractors/lenders has been the biggest help for me. You call somebody on their list, and they basically understand from the first day what you are planning on doing with the property (because they've gotten several other referrals from the same group). So there is less question on which type of materials to use, etc.

How long is the current lease? Will you be able to quickly find tenants to fill vacancies? I ask because in my area, $2,500 is high for an average rental, and it would be slow to fill. But I am not familiar with your area.

A combination of equity and cash flow is best IMO. I like cash flow, because it is allowing me to grow (or pay bills), but equity helps me to sleep at night knowing I am not as vulnerable to changes in market rent.

You might try Craigslist ads that are less specific about the property. like-ATTN Investors-great deal on 2-1-1 in XYZ part of town near Main St and First St. intersection. Only 25K Call for address and pictures.

If you are marketing to investors looking to rehab, etc. its more important to get them to call so they can go on your list for all properties you have or will have, not just this one.

For your first deal-I would use a buyer's agent. Somebody on your side to make sure all the i's are dotted and t's crossed. When talking to agents, ask questions about their experience working on investment purchases. Of course all of them will probably tell you they have worked with investors before, so listen for more specifics to help you decide who has the right set of eyes that can really take the right second look at your first deal.

Congratulations, and welcome to the world of REI!

If granite is only 1k for this sized kitchen, I would go granite every time. In my area it is that little extra that makes a kitchen pop. Plus, as K. Marie said, the durability is so much better than Formica when you turn over tenants.

I would love to teach my kids the REI business, and the way they can create an estate for themselves and their heirs. I can't imagine telling them, "We tell the tenant we are the property manager, not the owner..." They'd ask, "Isn't that lying?" What am I supposed to say?

Lying is just plain wrong. It's not the example I'd want to set for my children, so I just don't do it. Lying because you're afraid of your tenant is not a good enough reason.

With that being said, I sure enjoy having multiyear tenants who think I'm a breath of fresh air to deal with after having their previous landlords lie to them on a regular basis. So, in that case, keep on lying to them!

I can always tell a tenant is lying to me because I see his mouth is moving.

Do you mean the county tax appraisals? They don't really have much to do with what someone will pay for a given property.