All Forum Posts by: John Leake

I use State Farm for my longer term rentals and Farmer's Insurance for my flip houses. I always make sure I have a good umbrella policy but I would also be interested what other folks are doing for insurance. Sometimes I wonder about shopping around every year but I believe that could become a significant amount of work as the portfolio grows larger. I thought I heard on the podcast recently that maybe Brandon Turner was using a insurance Broker to handle that process for him now so that could be the best way to start.

@Tanveer Ahmed I usually do my listings on Facebook and get a fairly good response rate. Advertising is also cheap if you want to boost the post. I would be a little careful about Zestimate's looking at comparable sales is the best way to get an idea of what your property is actually worth!

@Ryan Barone I appreciate the fact that you responded to this post!

Awesome work! I hope to be at this level some day, making big value add plays that can be an example of what can be done with the experience and the team. I'll be keeping an eye out for whatever you have to share with us next. Thank you @Ben Leybovich!

I would be more looking for a roommate. The house hack is such a powerful way to save money and start investing. If that doesn't appeal to you then you can do what you are talking about but I would assume that it will be difficult to keep the same standard of living that you have now in an apartment. Hope that perspective helps!

I've always been a fan of the house hack! As far as criminal records I usually exclude felony applicants I know a lot of people have turned their life around but typically their are so many applicants that I can find a better option. You should be able to cash out refi regardless of a renter status. I would talk to the bank(s) as far as options on that. 

@Steven Tawresey Thank you for the response/ review! I think this is part of the reason I have done everything by hand up till this year. I am really looking for the automation portion of sending them invoices, applying late fees. The few folks that pay late I think is based solely on forgetfulness.

For a little background I am the Fixed Operations Director at a Chevrolet dealership in Illinois. I have been with the dealership since 2007 when I started in the detail department. I then started working in our sales department selling new and used vehicle. From there I moved into the parts department as a counter person and then the manager. I've built two ecommerce stores for us on Amazon and eBay. I now oversee all aspects of selling parts and providing service on vehicles. I have experience in almost every area of the dealership and would be happy to try and answer any questions you might have!

That is also what I'm seeing as far as reviews and nice work on getting started! 

Having a partner would be the most common way. If you can find someone with excess capitol but not the desire to be the workhorse it could be a great match! If you have significant assets you can get a pledged asset line of credit basically a loan secured by an asset other than real estate. You may also be able to do a hardship withdrawal from a retirement account to use. Last thing i can think of would be a syndication of some sort! hope that helps!