All Forum Posts by: Jeffrey Berry

I am looking for some advice to help my parents. They have no clue and have an attorney that is apparently no help. Beside getting a better attorney, which I plan to address, what resources can I point them to for getting rid of a free loader? The situation is my Grandfather passed away about 4 months ago, and she was a live in girlfriend and still has not vacated the property. My parents are the executors of the estate and are selling the property but can't until she is gone. Looking for any assistance or guidance on how to assist my parents to proceed. Thank you in advance for your assistance.

Hello BP nation, looking for a little advice or a good article on how to best explain the basics of what a BRRRR is to my non-REI literate spouse. I just recently got her to read Rich Dad to understand "Assets" and we are under contract on our first investment buy and hold. I want to start looking at the BRRRR for future acquisitions but don't have a good way of describing the process in a way that will make sense to someone who is not a numbers person and isn't interested in it. She is on board with getting cash flowing assets but I just don't know how to explain it. Any help or advice would be much appreciated.

Thank you and I hope you all have a Happy Thanksgiving.

Jeff

Hello BP membership,

I have been doing a lot of research on buying and building my portfolio in the last 6 months or so. I have got a good plan on where to go and where in am going to invest. My biggest hurdle right now is the property management in my town is fair at best, I have spoken to a few investors and renters regarding their experiences. My initial plan was to give it to a PM and let it ride, but getting the reviews I am more inclined to self manage. As I have yet to start that research and plan on starting the investment in the next few months, what are some of you best practices for automation and systems for screening and payments of tenants as well as managing once rented. I have a good idea of my requirements for approving applicants, which I was already going to give to a prospective PM. I am just looking for a good system screening as well as management for tenants. This will be my first self managed property(s) and screening process(es). Any advice is greatly appreciated. 

Hello @Matthew H Bullard. I am currently in Fallon, NV. and I am planning on starting my investment portfolio in the near future. I have started to network and build up a few contacts here. If you want to chat some time hit me up. I'd love to talk goals and investing plans.

Jeff

Hello BP members. I am looking at having roughly 20-30k maybe a little more to invest in rental property. I am looking to invest in Fallon NV and most properties come in around .7-8% on the rent ready properties. I was initially looking for rent ready as this will be my first buy an hold for the long term and was hoping for 200+ cf per month but with this market it looks closer to 100 or less. I am now thinking a brrrr may be better as there are some foreclosures that may fit the bill. Anyone have some advice for a brand new rehab investor on big dos and don’t for getting started. I feel this is going to be the route I will need to take to get where I want to be but I want to learn what I can where applicable as I go in to it. Any advice is much appreciated.

I am looking for property management recommendations in Fallon, NV. I know it's a small market but any info both good and bad about the local companies is welcome.

Hello BP community, I am Jeffrey Berry and I found you guys via several Real Estate investing podcasts that I have been listening to lately.

A little about myself. I am currently in the US Navy and I'm stationed in Fallon, NV. I have been in since 2004 and plan to retire 2024-2025ish. I am a Career Counselor by trade and hope to become a buy and hold investor in the long term. I am happily married and have one son that is 19 months old.

Currently I own two properties. I have a townhouse in Hawaii that I purchased useing a VA loan as my primary residence in November 2014 while stationed in Hawaii. It currently nets me about -$450 due to HOAs and lack rent potential. As this property has appreciated close to $100k since the purchase I will be listing in April and reinvesting the money into the northern Nevada market. No need for a 1031 as I lived in it for 2.5yrs and have only been away for 1 year. My second property is a 5 acre horse property here in Fallon, NV that is now my primary residence and I financed that using a 5% down conventional loan.

My current goals are to have 5-10 rental properties by the time I retire from the Navy in 7-8 years to supplement the income I will loose once I retire so that I will not "have" to work again. I will retire at the ripe age of 38-40 depending on when I decide to end my service.

I have already started to reach out to several realtors, lenders and such here but would like to expand that network and be ready to start investing as soon as my Hawaii property sells.