All Forum Posts by: Greg Rusianoff

I bought a trailer for 4k. I thought it was an inexpensive way to get my feet wet and not a lot of risk of capital. The plan was to rent the land for about 300 and lease it out for 700. 

I learned a ton about crappy tenants, unexpected maintenance issues, dealing w/ a regime, etc... 

I think I lost money on that one, but got back a ton in experience.

For me a good/bad school district is usually not a game-breaker. I usually focus on finding good deals first. If the school district is good, chances are the property will be more expensive, and your yield/cap rate will be lower (if you're renting). It is easier to find tenants in a good school district though. 

If you're fix/flipping - finding a crappy house to rehab in a good school district can be a good indicator.

I would recommend working with a property manager for the first few properties. Someone who has experience in that area and has dealt with the type of tenant before.

I have enough cash flow to quit my job, if it was just me (about 2,500). But with my GF, it will definitely take longer. We spend 5-6k a month combined. 

How much did you rent it for?

nope. If it's unsold at a tax auction, it goes to something called the FLC (forfeited land commission). Periodically FLC properties are offered for sale. Which county is the property you are referring to in?

Hey guys, 

Decided that it would be too much of a headache and sold it. Wish I had a more fun story. 

Started when 26. Now I'm 30.  Currently have 6 SFRs with rent roll of 4200. Take home is around 2100 --> Big believer in the 50% rule here ;)

I don't see a problem with this. Some people have jobs that don't have bi-weekly paychecks. So it's hard for them to prove consistent income that most landlords require. Actors in Hollywood would be a prominent example. Doesn't mean that they are broke - in fact it shows that they're responsible with the money. They just get their income in large chunks.

Do you intend to sell it, or rent it, or keep it?