All Forum Posts by: Joe Ellis

@Oliver Martin, I'm still quite new to all of this as well and will be monitoring this thread to learn how to "project" or "forecast" a market. The only insight/opinion I can impart is that when I was shopping for and eventually bought my house in Q3 2013, it was the same story. IIRC, I made 4 offers and 3 of them were under contract by the time I had made my offer; I had been outbid by cash investors every time. 

-Joe

@Tina Chen, I think you should definitely find out how many evictions they have within the last couple of years, how many properties they manage and how many people they have working for them just to make sure there isn't one person trying to manage 500 properties and yours just becomes another that gets managed "so-so" instead of a PM that does a great job but has less properties. Also I think that you should find out what kind of process for tenant screening they have and to see if that fits with your ideals and if it doesn't, would they mold themselves for your properties to your specific criteria. If not then I think you should pass on them. There is a podcast (I don't remember which episode, sorry) that spells out very well how to search for a good PM. 

Because of your background in construction I think Fix and Flipping would be perfect for you since you know how to do the work and probably tons of people nearby that can help you. To be honest I don't know much about condos but I'm sure someone here in Las Vegas that is good with condominiums could chime in and help out. 

@Brandon Bozarth, welcome to BP! There is TONS of information here on the website; the forums, the podcasts (my personal favorite), the blogs. It's everywhere, and the best part is that it's all FREE! (As long as you don't count your time, haha.) I am actually on terminal leave right now as I did 6 years and some change in the AF as well and I'm starting my new job as a realtor today! I hope that when you get here to Nevada we can link up and maybe chat about what your goals are here in Las Vegas. Good luck and I hope to meet you! 

Welcome to BP! I would suggest getting started by downloading all of the free books that you can from here and buying the book on No and Low Money Down to help you with your journey! Read Read and Read some more! Also, start listening to the podcasts as those are a continuous "gold mine" of information! (not to mention hilarious.) If you're still wanting more do a little digging around Invest Four More and Cash Flow Diaries. Both of those websites are great for what you're looking for! Good luck in your ventures and always keep in mind what you're trying to do and don't give up! 

@Lauren Baker First off. Welcome to BP! Get started reading as many blogs and forum posts as you can. Get your keyword alerts set up to help you find new forum posts when they become available. And listen to the podcasts. @Joshua Dorkin and @Brandon Turner are hilarious and they have tons of great info with their guests. 

What do you mean by "affordable housing"? And if you're not stuck in the dorms I would suggest finding a duplex or triplex and learn how to manage property and get your housing paid for at the same time while doing so. It may be a little added stress now but it'll be worth it in the end once you move on to other or more properties. 

-Joe

@Anthony Ceraldi, I would suggest bringing up out-of-state investing to your father and brother and possibly deciding to take a trip to a few places that you might want to invest in. Shoot, you don't even need to go out-of-state; if you just drive a few hours north, south or west I'm sure that there are plenty more deals than where you are in LI. You just have to look for them and spend a little more time driving. 

@Joe Abughazaleh, that sounds terrible! I will definitely put that in the memory banks for later use, haha. I appreciate you clarifying! 

 How do you mean "have the utilities in their name"? I understand about having your tenants pay the bills (or include them in the rent) but would you mind clarifying whether you mean to have the tenant put he utilities in their name or do you suggest keeping the utilities in your name and billing the tenant? 

Thanks in advance! 

Looks great! Just goes to show that it CAN and IS being done! Congrats!