All Forum Posts by: Kevin OBrien

@Evan Polaski That is good to know. I have had multiple people say they think that there should be a market correction or similar coming and to really make sure the property cash flows and is on long-term financing. 

With the properties that you might have to pump money into. Are you talking about older/ more distressed properties?

@Collin Chan We are thinking of this someday as well. Did you use a realtor to help identify what areas of town were good to get a rental in?

@Ricardo R.Great thoughts Ricardo. I see from your side of it, that even though you may have nearby properties, every trip over to them doesnt mean you're going to be able to time fixing multiple things and it may not equal less expenses on your part as the management. 

Would there be more chance of negotiating if the unit number was a larger number than your typical clients?

@Kase Knochenhauer Thats a fantastic idea. Since I'm new to the rentals, is this something that is common in your experience?

@Anthony Dooley I know that some markets have extremely low appreciation. Would you say that the buy/hold strategy is market dependent? As much as I would like alot of equity someday, cash-flow is very helpful in the 10+ years until that equity builds up. Whats your opinion?

@Joe P. Joe did you have CAPEX repairs that you didnt know about come up? Were there any inspections that didnt show these issues?

We found a few rentals nearby to eachother in an area we have been looking at for a while. We were thinking of seeing if the property management would reduce their fees since the rentals are near to eachother. 

I was wondering how others talk to their property management about reducing their management fees.

Thank you

Hi everyone,

  I had a friend talk to me the other day. She was saying that her first rental was a house that she and her husband picked up from a neighbor they knew who was moving. But she said it didnt cash flow much for a while because they paid more than they should have.

What are others experiences with their first rental property? Did it cash flow well? Did it take a while? What are others experiences?

@Aaron K. Thats a great point. I dont think I've read much on that. So not every market is around the same cap rate for most properties. 

How do you figure out the"middle ground" for cap rates for a market?

Hi everyone, I have been contacted by a few people looking for a broker to help them find potential properties. I was wondering what are some ways or suggestions that we can give to these newer potential buyers to help them have successful conversations with agents or advise that can be given before they call a broker.

- One thing I was thinking was to not tell the broker you just want a "good deal"?  Maybe this is just me. This is just to vague since everyone has different criteria they are looking for.

Thanks BP community!