All Forum Posts by: Jordan Thibodeau

Pass. Ditto to what has been said before, plus I don't allow animals in my rentals due to the risk of the property being damaged. I might allow cats, depending if the tenant has built trust with me.

HI John,

I used mysmartmove.com. It doesn't require you to ask for the tenants SSI#, bank accounts etc, and the tenant pays directly for the background check so you don't have any out of pocket expenses. Also, it will advise you if they think the tenant will be able to pay rent on a regular basis.

@Bryan L. A realtor spun it as a "Customer Loyalty program" and he wanted me to pay $525.00 document processing fee (Because I guess he needs to be paid twice for doing his job), and and I promptly responded.

It's unethical that buyers would two time their agents by trying to skirt the commission via side negotiations, but I think it's even worse when some realtors lock clients into these programs and fail to perform. Being that you're experienced, I'm sure you do a great job, but it's sad that others fail to produce.

One realtor tried to trick me into signing one of these buyers agreements, and I promptly responded.

The upstairs tenant sounds like trouble, to say the least >.>. Besides the repair issues, he's now making you risk losing the good tenant. Based upon what you've said, waiting until September gives the upstairs tenant more time to frustrate the downstairs tenant and to destroy your property. I would try to move the bad tenant out ASAP.

Also, don't let your tenants boss you around, you own the property, your money is at risk, and you have a responsibility to the downstairs tenant to make sure he or she is being treated fairly.

Hi Raymond.

As a fellow Bay Area resident, I understand your pain with the astronomical prices we're seeing in Silicon Valley. I started investing in Sacramento because the home prices were affordable and I was familiar with the area.

I recently went down to Stockton to look at Duplexes. Being that I'm inexperienced with the area, it can be daunting to find the best areas. Also, I don't know how the city will resolve the bankruptcy issue (Fed/State Bail out? New Parcel Taxes?)

As far as investing out of state, start instate, being that your advantage is your familiarity with Stockton. Investing in state allows you to hone your property management skills, because if you invest out of area you have little or no control over your properties.

I came across a great realtor when I was in Stockton and he was able to show me a few duplexes, what's nice about him is that he is a buy and hold real estate investor so he has extensive knowledge of the Stock RE market, if you need a referral, please PM me.

5. And, speak a banker at a local credit union to see what types of loans you qualify for.

Great. Well, you said live debt free, do you currently have debt? If so, In my opinion I would pay that off first before doing anything else.

As far as the market, you have numerous ways of gaining experience:

1. Start a simple zillow search to see whats available in the market.

2. Contact a realtor and provide her with criteria for an MLS email update.

3. Connect with your local real esate investors group in DC.

4. See houses in your area and see as many as possible before pulling the trigger, don't fall in love with the first deal you see. I thought I wanted to invest in SFHs, but after seeing about 100 different SFHs, my criteria changed to Duplexes (not saying you should do that, but it shows that through the repeition of seeing different pieces of real estate you begin to develop your own criteria).

@Glenn McCrorey @Michael Seeker Excellent posts. Agreed.

Also, once your determine your desired RE monthly income number, include ample wiggle room for unexpected invents (Market Down Turns, Mass Vacancies, Personal Expenses etc).

Hi Damien. That depends on upon:

1. What Real Estate experience do you have? (Property Management, Rehabbing Houses, Trend Spotting in Markets..etc)

2. What are your personal financial and life style goals?

3. What is your desired return on investment?

4. What is your market offering?

5. What Niche you want to focus on? ("He Who Defends Everything, Defends Nothing)

I would definitely check out the BP ultimate guide on real estate investing and then check out blogposts and podcast until your head explodes.