All Forum Posts by: Johnathan Alesso

I recommend that you seek references from experienced investors.  I've had very dismal experiences with a property management company and hope to never endure another similar ordeal in the future.  Be aware that many companies do not attempt to engender smooth relations with the tenants; many simply collect rent and badger the tenants when payment is late. 

I personally have had success with individual property managers who do not work for a larger company.  They tend to foster harmonious relationships with the tenants by getting to know them and their situation.  By simply understanding the tenant's payday schedule you can structure your bill collection accordingly and avoid a tremendous amount of headache.

I try to save as much as possible for future real estate investing.  I did not start out with much cash and while I have more of it now, I still retain the natural desire to save up.  That said, I make sure to spend on personal health and preventative medicine.  If we don't have our health, why are we planning so attentively to the future, right?

I've also accepted that I do best when I strike a balance of current enjoyment and future investment.  I spend a good amount of my disposable income on travel, but I pinch pennies on food, clothes and, really, everything else. 

There's also the idea that living on less is actually more fulfilling.  I find this to be true for me.  The more I buy, the more I think I need.  The less I buy, the less I seem to need. 

Great posts here!

I find that Zillow is off-base for low-end properties that need to be rehabbed. 

Hi there,

You may want to consider learning about tax lien deals.  You could plausibly purchase a tax lien property for under $10K without the need for financing.  You can then either flip and sell or flip and hold.

If you have a bit of capital, you may want to look in the investor marketplace for low-cost deals in bargain cities such as Cleveland, Memphis, Milwaukee or Memphis.  If you can locate a quality property manager you can easily invest from out of state. 

Good luck!

I'm new-ish to BP and look forward to connecting with all of you!

I own multiple rental properties that currently generate $1,500/month in cash flow after all expenses are accounted.  I am quite frugal and try to keep my non-housing expenses to around $2,000/month.  I feel like I am getting close to that magic "financial freedom" mark.  I plan to begin "house hacking" within the next year. 

That said, I am wondering how the financially free among us reached this point.  How long did it take, and were you able to quit your day job?  Did you maintain a separate retirement account?

Thanks for your thoughts!