All Forum Posts by: Jonathan R.

@Emilio Ramirez I agree with @Jacob Henderson that multifamily is expensive by and large here. I buy single family houses and fix them up. Treat tenants well and you’ll do great. People are more important than money. I had an investor offer me more money than I thought one of my properties was worth at a time I was considering selling one and I didn’t sell it to him because I wasn’t sure he was the right fit for my tenant. It was bazaar considering I got into the business to make money, but ultimately it was the right thing to do if you build your business correctly. Buying rentals is a marathon not a sprint. By all means sprint when you can but don’t be afraid to pace yourself. Your family and your health are also important. It’s crawling to financial freedom. Real estate is still the best game in town to build long term wealth; investing will put a few grey hairs on you before you’re done.

@Emilio Ramirez Welcome! Wichita is a great place to invest. There is a supportive group of investors here in town. For me, the key to success is repetition. Once you survive one deal, push for the next then the next. Keep going and keep going and one day you’ll be free of the almighty dollar. 

@Grant Bumgardner I rented throughout college and like six years after before owning a property (I have several now). I’m glad too because it likely would not have been a lucrative money making opportunity considering the stress it would have put my folks through to co-sign.
Considering buying a rental property locally in cash, have 20k? You’re a player in the ICT as a cash buyer if so. Good luck!

Originally posted by @Jill F.:

@Jonathan R. Why isn't he cleaning the carpet on *his* front porch?

 Great question. He says he tried and it didn’t work. I will admit he hasn’t asked for much in the three or so years he has lived there; given the circumstances though I don’t think I need to be moving mountains for a request like this. Crazy.

I had a Section 8 re-inspection today on a property I own and the inspector was in gloves, which was new from last week when he initially failed the unit for minor things. He says the city is days away from potentially shutting their doors. He says the problem is people in the US are still doing business as normal for as long as possible, when in reality, healthy people need to stay home. The only people that should be out are sick people trying to get treatment. My city just banned gatherings of 250 people or more. Everyone seems to be cancelling everything.
My tenant on different property says the carpet we laid to cover his front porch is dirty and asks when we’ll be by the clean it or to change the carpet. I admit I have a spoiled tenant because I would normally go above and beyond and service this unreasonable request, as we too want to be the Chik-fil-a of the industry, but now I’m like, really? This is stupid. My contractor was on-site when this guy freaked us both out. I told my tenant we are bunkering down and staying indoors to try and reduce the spread of this virus and he should too. Am I being unreasonable? If you think I’m not being unreasonable here, where should the line be drawn for tenant requests that get us out of the house in these trying times?

@Darsh Kumar You could buy a big house with many bedrooms (all one level) and turn it into residential assisted living. The baby boomers are aging. The market is going to be hot for some time. Google Gene Guarino, he teaches about it.

Congrats on your deal! Wichita has more where that came from! Best of luck on your deal and cheers to many more!

Welcome to BP. Your story sounds like a lot of us. I started with very little $. Once you find your niche the key is repetition. Best of luck. Stay involved in the forums, and the 300 some odd podcasts should keep you busy. If you can save up 15-20k, you have enough to get started. If you want more info on how I know that, click on my profile and read some of my 500 some odd posts starting with the earliest. Success leaves clues, I've left you plenty on me. Same goes for others you see on BP.

Then out on the lawn arouse quite the clatter. I sprung from my application screening to see what was the matter. Then what to my landlord eyes should appear? A boyfriend, a two foot green bong, and a 40 of beer.

Originally posted by @Jim K.:

Originally posted by @Jonathan R.:

Originally posted by @Jim K.:

As you said, different markets surely require different practices. Just like we are all equal, but some are more equal than others.

Are you throwing Orwell at us?  

No, I threw Orwell at Charlie, in the certainty that it would sail right by his Napoleonic head.

 Lol! I love it.