All Forum Posts by: Joel Fine

Does the water company feel guilty for turning off the water for non payment?

Does the bank feel guilty for foreclosing?

Does Walmart feel guilty for arresting shoplifters?

...

Why should it be different for a landlord?

On the lighter side...John Oliver of late-night TV fame does a segment on mobile homes and the investors that buy and operate them. His humor is definitely of the leftist and snarky variety, so...trigger warning, it definitely won't amuse everybody.

https://www.youtube.com/watch?reload=9&=&v=jCC8fPQOaxU

 Hi Ezana,

I do have one wholesaler sending me off-market deals. But, I'm always open to looking at more.

Hi,

I have a couple of small apartment buildings in Cleveland, Ohio. I'm looking for an agent who can help me insure these buildings. Preferably one who returns calls & e-mails in a timely fashion. Please DM me with name & contact info.

Joel

Congrats, that's an inspirational story. Can't wait to hear how the next chapter turns out, when you turn $150k into $1.5M!

Here is my suggested course of action. Do these three things (in parallel, not one after the other):

• Educate yourself.  Finding this web site is a great start. Next read the Bigger Pockets book list, beginning with The Ultimate Beginner's Guide and then Brandon Turner's The Book On Rental Property Investing. Then move on to the rest of the list: The Best Real Estate Books for Your Investing Business. Follow up with the Bigger Pockets podcast - listen to every episode you have time for, then listen to them again. Try a Bigger Pockets Webinar or two for good measure.

• Connect. Network. Find and attend every Real Estate Investor meetup within driving distance. If there's none in your area, start one. You will learn there, but you will also meet people - learn what they are doing in Real Estate (and how they got started), and you will start to discover what YOU really want to do. And, you will know people who can help you with the next step which is...

• Partner. Find someone who has money but no time. You have time (and hopefully energy) but no money. If you've got the hustle, you can bring value to the relationship. Maybe you can hunt for and find a great deal. Maybe you can analyze a few dozen deals, identify the diamond in the rough, and bring it to your partner. Maybe you can cold-call owners of distressed properties and find someone who is willing to sell at a great price. Maybe you can manage a property from rehab through rental; deal with tenants, termites, and toilets; run the business. Do this in exchange for a piece of the equity (don't expect a big piece, this is your warm-up act) AND to further your education, so in the next deal you can bring even more value (and get a bigger piece of the deal).

After you've done these three things, come back and update us on your progress. (Spoiler alert: you'll never actually be done with them. You'll be more knowledgeable, connected, and valuable than you are now, but the journey never ends.)

Let us know how it goes. We'll be cheering for you!

You sound like a very thoughtful and conscientious PM. If I ever buy an investment property in San Antonio I'll be giving you a call.

I copyrighted the letters "t" and "e". Both lower case and upper. Also the ampersand as well as the number 7. You are all infringing, I will send you a bill.

Great story, thanks for sharing! I hope you keep us updated as you progress.

Just curious, have you considered AirBnb as an option for one or more of the rooms? I hear the cash flow can be even better than long term rentals. Especially given that you are already planning to furnish the rooms.

I agree with this reasoning. Your initial offer should have taken into account any items that would have been observable during your walkthrough, as well as any items the seller disclosed in advance. As a seller, I would only consider concessions based on what was discovered on inspection but not previously known.