All Forum Posts by: John Knappmann

Welcome Joseph!

You mentioned your family. Any chance they could take care of those little things at the house? More reliable and less hassle, usually.

Welcome to BiggerPockets, George. There is a ton of stuff available here. Seeing you're from Phoenix, I got say part of me thinks you hang out with those guys at the property auctions on tv and all. :)

Have not had any yet, but I have been told to make sure they have already been approved and for a specific amount. If they are just on a waiting list, they are wasting their time trying to find a place. And wasting your time. But they may or may not realize it.

I have seen a ton of single-pic or even no pic listings in my area. I attribute it mostly to poor marketing. Even foreclosed houses with squatters can have a couple of pictures from angles that make them look good.

Welcome to BiggerPockets, Joel. I'm glad your first deal worked out so well. As for going forward, do your due diligence, think about your options, and when the time comes you will know what to do.

Just remember that wealth in real estate is usually not made overnight and you will need to keep your long-term goals a priority if you want to achieve them. It sounds like you are off to a good start, though.

I also note that, having been in the family for 50 years, it should be owned free and clear. I would wonder why they are selling.

Welcome Dave to Bigger Pockets.

Jon, impeccable financial calculations, except that the purchase in question has 15 units, not 4. So average monthly rent would be about 7500.

Welcome Alexander. I would agree that your first property should not be one requiring a lot of work, as you will probably find out that it still requires more work than you thought when you bought it. Be VERY careful screening your tenants and definitely follow the advice of Mehran and Kenneth on evaluating your first purchase.

Welcome!