All Forum Posts by: Justin Fantazier

All five units are currently rented. I have financing and insurance in place all five will cash flow 150-200 a door as is. I am going to manage these properties myself. I guess what I am looking for is input about what I should know/do with my first deal?

Again, there are hundreds of things to talk about. Do you know how to conduct due diligence on the property? On the Tenants? Are you working with an agent? Have you considered all expenses in your calculations or do you consider cash flow to be anything above PITI? Are Tenants on monthly leases or term? Will you be verifying their information with an estoppel? is the seller sharing application and screening information, payment history, copies of the leases, etc? What do you know about Landlord-Tenant laws? Do you have leases and forms ready to go? What will you do if a Tenant stops paying or communicating? What if they add a dog or five roommates?

I could do this all day long. If you want answers, it's best to ask specific questions. If you don't know enough to even know what questions to ask, then I highly recommend you start reading some books and educating yourself because there are literally 472 ways this can go wrong. It may not kill you, but it can certainly make your life more difficult.

BiggerPockets sells a book on managing property. My personal favorite is "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them. It's updated every year and is the best $40 you'll spend as a Landlord.

Thank you for that advice. I had already started reading the Bigger Pockets Property Management book. I guess I should have re worded the post as tips for closing on 5 doors and what to look for. I have verified all the tenants with a make shift estoppel. I did this before fully understanding the definition of this. I will look into that NOLO book. I like reading and consuming all the information I have. Looking back now I probably should have got into the forums before jumping head first. Thank you.

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I am about to close on 5 doors in the next few weeks. Three single family homes and one duplex. Just reaching out to for thoughts on items that I might not have thought of. Thank you for any input.

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let’s say it goes for 200k. I couldn’t come up with that kind of cash so would I want to seek a lender that would give me a mortgage for that amount?

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Richmond, Virginia

Hello all.

I am pretty new to the real estate investing world. There has been an apartment complex of 8 units that has come for sale in my neighborhood. The location is great and they will rent just fine but my issue is financing. How can one finance these units with a loan if I can get them at the auction? Thanks for any advice and info. Have a great day.

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Richmond, Virginia

All Forum Posts by: Justin Fantazier

Justin Fantazier has started 2 posts and replied 5 times.

Post: Closing on 5 units soon

Post: Closing on 5 units soon

Post: Closing on 5 units soon

Post: Apartment Complex at Autcion

Post: Apartment Complex at Autcion

Justin Fantazier has started 2 posts and replied 5 times.

Biggerpockets Logo Post: Closing on 5 units soon

Biggerpockets Logo Post: Closing on 5 units soon

Biggerpockets Logo Post: Closing on 5 units soon

Biggerpockets Logo Post: Apartment Complex at Autcion

Biggerpockets Logo Post: Apartment Complex at Autcion

Post: Closing on 5 units soon

Post: Closing on 5 units soon

Post: Closing on 5 units soon

Post: Apartment Complex at Autcion

Post: Apartment Complex at Autcion