All Forum Posts by: John K.

@Charles Craggett

Only you will know when you are ready. Like I just read in another post be someone who takes action rather then someone who talks about it. I am still a newbie myself, but I will soon be taking this advice once I am able to move back to the states. Continue to do your research until you find a deal that works for you. Good luck and I hope to hear a success story from you ASAP!

@Jordan Decuir

Is this what you are looking for?

http://www.biggerpockets.com/renewsblog/2014/03/12/questions-for-hiring-property-management/

I am curious on this topic. I am doing my research and reading a book in regards to a real estate license and in that book it talks about this a few times. One sentence that i want to point out is this 

"

For instance, a friend may want to give you a fancy restaurant dinner to thank you for your help, but someone at your state licensing agency may decide that the meal is a fee. If you intend to start collecting fees for your work, you definitely need a broker’s license or be a licensed salesperson working for a broker.

"

Can anyone elaborate on the legal issues that may arise from an incentive program?

@Derrick Atkinson

I figured I could add some since no one else decided to talk. I have not started my self, but I do read a lot! I guess you can do searches online and look for reviews like discussed above. Start networking using social media such as linked in, facebook, BP etc... A lot of people will recommend joining a local real estate club. This will allow you to talk with other investors and hopefully give you the reccomandations you may need.

I agree with most on this topic. Although I am still new and have not even started I still am very open about it. Ever since I started talking about it seems I have a lot of people in my circle who are interested or are already in the business. Some even offered deals, and oppurtunities. I am still waiting though until I am finally stateside after this deployment before I get started, but I feel networking has already jump started my future.

I guess with a boss it can be tricky, but either way just do what you feel is right. I do not see why your boss would think any different of you unless you started to not care about the job then that's a different story. Great topic by the way.

To my understanding you should be able to depending on your financial situation. Considering you have rented out the duplex for more then a year you might be able to use this as income for financing a VA loan. You have to show proof that you have the income to support both mortgages otherwise no one is going to lend to you. Also with a VA loan you have to occupy the house I believe for one year which is similar to an FHA loan as you already know.

I do not understand what would make you pay 41,000$. For one you are apart of BP, and whatever you cant find here you can find online, in books, local real estate clubs etc.. Also bashing the company is one thing, but you also signed a contract without reading what you just signed. Well I am not reading the 20 pages of replies so I do not know the updates, but I hope you are able to find what you are looking for.

@Nathan J.

I have a friend who started in philly, and now has around five properties. He generally looks for lower quality to attract section 8 tenants. At least that is what I understood from us talking. If I see him at work tomorrow ill ask him exactly where he invests.

Awesome work! Do you hire a contractor to do the work or do you work together with your brother? Also how is the neighborhood I have been looking around NJ online and mainly find areas with a lot of crime. Either way that is some good work, and I wish you the best when you finally put this house on the market.

I am interested in understanding how others on BP evaluate a good deal. You are talking about taking home 400$ a month. Does this account for vacancy and maintenance?

I ask this because I read generally people usually include .05% for vacancies and .10% for property management. Unless you obviously managing the property yourself. I am assuming this is an SFH. With that is there generally less maintenance to account for then a multi family?