All Forum Posts by: Jeremy Lewis

Would this be a good event for someone who hasn't purchased a property yet?

Not to mention that if he doesn't have the serial numbers for (lets say) drills or saws, he's just yelling in the wind. However, I would give them back to him and cut your losses.

I am not a general contractor, I am a Handyman as such I can not do HVAC, Plumbing or Electrical (anything that would require licensing), however if you need someone to paint some rooms, or finish some drywall. I provide great quality work, at a good speed and price point. Also, I am in Tempe.

Edit: I don't only do drywall and painting, I do a lot of finish work such as hanging lights and fans, towel bars and such.

That is a super interesting question. I would assume you can. I am going to be starting my investing journey in 2020 once I finish building my stable foundation and that was my hope; to buy a handful of properties with cash, let them cash flow for a while and then utilize their equity to cash flow a larger property. Hopefully someone with experience in this situation can shed some light on this for us.

Like others have said; don't give them a dime, and take any advice with a grain of salt and do your due diligence to make sure they're not leading you on.

When I am working or eating lunch or whatever situation and I have something that pops into my head (whether for my business or RE ideas) I always pop open google and type in "BiggerPockets [question]" and more times than not someone somewhere has asked the same question and has gotten a ton of great advice. Since Real Estate Investing is run as a business the bigger you get I can not tell you how often I utilize the real estate advice for my non-RE business its insane how much overlap there is.

Anywho, welcome to BiggerPockets and good luck on your journey and with your phone call with the GURU.

It seems like a no-win situation with a month left of bitter-sweet circumstances. On one hand you're getting your money, on the other hand it is late and every contact is confrontational. I would collect the last months rent and then inform them that you have no intention of renewing their lease and that they should take the time to find somewhere that better suits their housing requirements and wish them the best. Albeit with more tact and perhaps help from your Attorney. With it being so close to the end of the lease I probably wouldn't go for eviction just due to them being out in a month regardless.

Where I am from (Ohio) I believe the only requirement is a minimum size (sqft) and has to have a closet. I do not know about Georgia though.

The steps I am taking before Real Estate Investing is simple.

1. Pay off my vehicles ($900/mo in payments)
2. Purchase Personal Property with Cash ($1,000/mo in payments)
3. Streamline my business (I am a business owner, so streamlining only increases my income)
4. Find Duplex or Bigger, buy with cash (I want my first handful of doors to be paid off from the start, gives me more equity to play with when I am going for bigger items)

With my first two steps, I drop my living expenses down to 15k a year for a three person family. Which means even if I made 67k I would still have 52k a year to play around with for down payments and renovations. Plus, with the type of business I own, I don't have to sub out most of the renovations.

 Cheap property isn't bad property. Where I am moving to in May has a median house cost of $80,000, and they're not bad houses. Even the ones in the 30-40k range aren't bad, just need a little bit of a face lift and some TLC. This is where having a strong cash flow comes in handy in my opinion.

 You read my mind. If I had $25k right now I would have paid down all of my high interest debt and freed up over 35k a year in expenses. Savings = Earnings