All Forum Posts by: Jimmy Dudley

Your PM is the problem. Find a new one and take the hit. Don't use premium paints on rentals either, a nice light color will make your turnovers much easier. 

Of course he doesn't think its a big deal. It would be your problem not his. This doesn't smell like a deal. 

You work a W2 and eat what you want. You have to refi for more than you have in it. Furthermore, you have to learn to be comfortable with leverage. $1,000,000 is not a big deal if your tenants are paying it. Cash flow is king!

I think just get out there means going beyond the podcast and creating your systems. Meet people, ask questions go looking for deals. If you are hasty you lose, if you wait for the next market cycle you lose. Welcome to the game. 

They aren't that bad online. Yes they should be hardwired. Call an electrician and bite that bullet. It really does keep people safer so I don't mind so much. 

I have been across the country. Appliances yes, washer and dryer no.  If you expect the tenant to move a refrigerator then you expect to replace your floors when they leave. 

People think it's a get rich quick scheme. It's not. 

Quitting your job and losing that W2 is a big deal. Loans become much more difficult to qualify for. 

Plus what if you decide it's not for you? 

It will work, but not today and not tomorrow. The algorithms are constantly improving but they are still no match for a person with some experience, yet. 

What are your goals? What horizon are looking at in terms of timeline to reach your goals? One option puts you into more properties and at maximum leverage. One option is more conservative. Your timeline probably answers your question. 

Nope don't need to. Provide other utilities depending on type of property but never cable or internet.