All Forum Posts by: Kim Stofan

@Justin K. Looks like you are looking to hit a home run on your first deal. To find a cash cow right off the bat will probably require to use some more creative strategies like other have mentioned (direct mail, tax liens, driving for dollars etc.) Don't really think you will find what you are looking for on the MLS. A lot of people like to brag about their best deals but don't mention that their first couple deals weren't quite as exciting. My four midwest properties cash flow between $160-$250 after all expenses, including capex, repairs, management. Not super exciting but I'm fine with that.

Could anyone please share a referral for a licensed/insured and reasonably priced tree trimming/removal service in Roseville, Rocklin, Citrus Heights area.  Thanks so much!

Don't neglect saving for those cap ex expenditures!  I know several people who have bought new construction properties and had several major items fail, some right after the warranty period expired.  There are definitely people who choose to manage from a distance and have set up good systems to do so.  It is doable, but you have to weigh the pros and cons of doing that.  It comes down to knowing yourself and what your goals are.  You could try it for a year and see how it goes.  Is selling the property out of the question?  If the numbers do not work out well for it as a rental then maybe you could use those funds to find a rental closer to you that makes more sense cash flow wise.  

Hey @Pete Tam, I'm familiar with the Folsom area.  My husband and I went to high school there.  Folsom is a very desirable place to live which would explain the steep home prices.  Are you looking for a home as a primary residence or an investment property?  No one can predict the future of the housing market, so waiting around for the the market to "slow down" might not be the best strategy.  Have you looked at Citrus Heights, Orangevale, or Roseville?  There are some nice neighborhoods in these areas with a more reasonable price tag.  

Hey Kris!  Welcome to BP!  Reading those books will definitely give you some great education and a strong foundation.  Don't let it be a substitute to getting out there to start meeting investors face to face!  There's a couple Real estate meetups in the Sacramento area and another that meets regularly in Roseville.  Where are you hoping to find your multifamily property?

Hi Marci!  

I'll echo the advice to get out to meet ups to start meeting people face to face.  It's one thing to read the forums and interact there,  but meeting people face to face will help you start forming those relationships that will help you through your whole journey.  

I'd also narrow down your niche so you have something that you are focusing on.  That way you can really become knowledgeable in that area and you won't be as susceptible to the shiny object syndrome.  You will also feel less overwhelmed that way. 

Start analyzing properties every day.  You could use the BP calculators and just start running the numbers.  If you analyze a couple properties every day then you will feel more confident when you are ready to make your first move.  

Best of luck to you!  

Thanks for the tips... I have gotten a couple quotes and average price is $200 for setting the traps, $60-$80 per animal that is removed and $100 to fill holes with cement!  Jezz, I wish I lived closer and I could buy a trap and catch it my dang self!  

Hi all!  I have a tenant complaining about a ground hog burrowing under my rental property in Independence, MO.  Property management company quoted me $375 for inspection and removal of said critter.  Was wondering if anyone had experience dealing with these pests.  Any concerns about foundational issues with the burrowing under the house?  I do not believe she has tried any remedies of her own.   Would love to hear your thoughts!

Hey BP community. I'm looking for help/insight on a dilemma my husband and I are having. We bought an expensive primary residence in 2014 before I knew anything about REI and pursuing financial independence. Even though we love the neighborhood and school district, we are going back and forth on whether to sell the home and rent or buy something more affordable. We have a bout 275k equity in the property. Our PITI on this home is $3200. This payment is severely limiting our ability to meet our real estate and financial goals. My heart is telling me to sell but I already have 4 other rental properties with mortgages on them. We might rent for a while but I'd eventually like to buy another primary residence in the future. My fear is that we would have a hard time getting a mortgage on another primary residence with all the other loans I have. Any thoughts or insights? Thanks!

I loved this interview with Ashley.  It's always awesome and inspiring to hear from women out there kicking butt in real estate investing.  Thanks!