All Forum Posts by: Karl Denton

Biggest thing you can do is find meetups in your area and go to them, talk to people and network. You'll learn lots just by doing this and may even seek someone who has a deal or can help. That's how most get started and continue to learn and network. 

Being as car guy, I would say it depends because honestly I have gotten a 2002 Buick regal to go 250k before the motor went and then I drive a 2004 Subaru now with 140k I have maybe done 10k - 15k since iv had the Buick and Subaru. I have made these cars last me 14 years so far and the total cost of cars have costed me 4500k. So all in maybe like, under 25k for 14 years. Not to bad for me but iv done most of the work. So it really depends, if you get a new car like a Honda or Toyota those are the best and least maintenance needed. Good luck, also I thought these forums where mostly for real estate but there's a first for everything!

You would run a bunch of comps in the area to come up with a average price in this current market, then you will have your basis to setup a price per sq foot. 

Read about financing and refinance the assets you currently own to leverage capital for your next deal. I also would research having systems in place or using software to manage your expenses etc. I use Stessa and Tenant Cloud, but read, learn and execute! 

Get a couple more quotes for sure, seems very high. I would also see if the town could be responsible for any of it, on a duplex I have the town installed new piping up to the porch from the street due to its age. I had scale build up which was causing clogs, however the tenants were flushing diapers and wipes down the drain so I addressed that and just cleaned it out for a number of years to avoid the large costs of repairing the entire pipe. 

I would love to know details about any upcoming Units. I have wanted to diversify into Self-Storage units in the future and would love to know any more info on these deals.   

North Carolina is a great place, you may find many great deals near Tennessee area. Just know a lot of these places are in the middle pf no where and I'm not sure how the rental or STR market is in these areas. However there's lots of options in this state for good investments. Good Luck!

They make solar bird chase sonic noise machines that are suppose to keep geese away from the area. I believe it makes sounds like a predator and they want nothing to do with this, iv seen a business use these for seagulls as well. Works well from what I've heard. 

You would be doing a "Subject To", the buyer would then get subject to insurance, which means that the company he picks agrees to the same terms of the loan. If the bank was ever to find out and want the loan closed this company would pay the remaining balance and it would be under the same exact terms. Most of the time the banks will not find out and these companies bank on that and make there money but in the case they do, they just take over the loan. Being the buyer its very important that you get this insurance. But this is a creative way of purchasing a property and works well. There's a great podcast on bigger pockets talking all about this on YouTube. 

If you are starting out the real way to get a low down payment would be to "House Hack" it. This means you would live in one of the sides for a year and rent out the other. Then you can move on to the next property, other then that you would have to do a creative financing deal which Brandon Turner has a good book about called, "Investing in real estate with no (and Low) Money down". Its a good read and helps with mindset and thinking about over options especially if its off market.