All Forum Posts by: Justin Kalieb Bartram

I am looking over numbers for a potential first property (I went very conservative I.E. inputting their asking price and a below market value rent). What are some average (I know it varies state to state and market to market) expense percentages I can expect to see?

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*This link comes directly from our calculators, based on information input by the member who posted.

@Tyler Kress I’m sorry but I honestly stopped reading after you started in about what your uncle said, and skipped to the bottom. The reason being IM GOING THROUGH THE SAME THING! Everyone acts like they know what there doing. My boss at work ridicules me because since he rented out his house after he moved for 4..? 5..? Months and had a bad tenant (completely his fault) that I’m going to crash and burn. All my coworkers also go on about how you don’t even make any money until after a few years (obviously they don’t know about rental analysis and cashflow) and parts of my family either think it’s the worst idea ever and others I don’t even mention because I know for a fact they will get jealous and tell me how much of a failure I will end up being.

Here is my honest opinion and what I do. I personally have been through crap like this most of my life from one (or many people at once) person or another. Keep your head down, keep making those babysteps toward your goal, to paraphrase millionaire real estate investor (highly recommend reading) set big goals to get big money created by big actions! Don’t listen to the haters. Like they say, haters gonna hate! When your at the top they will always ask why and how.

@Joe Prillaman okay thank you for the clarification! If I may ask, what is your cashflow on these seven properties now?

@Joe Prillaman please correct me wherever I am wrong, but are you saying that you have increased your net worth 100,000$ or are having cashflow of 100,000$ annually?

@Robert Higdon I completely agree. Anytime I carry is concealed. You stick out like a sore thumb if an assailant is making a quick scan of a place to attack.

Hey everyone! I am new (completely) to REI. I've been looking into establishing an LLC before my wife and I begin our journey and I intend on seeking professional help of a local CPA who has rentals in his own established LLC. At what point do you consider too early to start an LLC however?

@Matt Geving my wife and I are in our mid 20s starting out. We feel most comfortable going into single family homes, however when we actually go to purchase our first REI that may change. Over time I am sure our goals and timelines will change as well. Everyone is comfortable with what suits them. Don't let someone decide for you what fits you best, when you know you the most. However be open to guidance and keep an open mind to new things. That key concept has helped me tremendously.

Hello! Beginner investor here! I am going through the book on rental property investing currently. I've read a few books before this and have numerous lined up after. Already a huge fan of the BP podcast. Recently plugged into a local real estate group on FB and have asked millions of questions. For those who have read this book, my wife and I are on the plan model 2 taking the year to learn read and learn. We are both ready to jump into REI but I myself am currently in school full time and work full time swing shift so we hardly have time together as it is. Once I finish next may we will have properties already lined up analyzed and numbers crunched (capex, PM, vacancies, maintanence, everything) I just wanted to introduce myself as well as ask YOU all what are the most beneficial real estate and business books you would recommend?