All Forum Posts by: Derek Guyer

Do you think it is going to "burst" down there like some people are saying? or just slow down?

Derek

Rick,

I agree with Joshua. It is great to see you acknowledging your past mistakes. It is obviously necessary.

I own numerous properties, but spend most of my time consulting investors around the country with my mentor. I have missed some hot deals as well, whether from ignorance or dragging my feet, it has varied, and am determined to not do that anymore and to help my current investors avoid that as well.

Are you investing in Florida?

Derek

Welcome, Rick. I'm pretty new to this forum as well. Are you currently an investor and where are you from?

Derek

It depends on whether the cash flow is strong enough to justify the risk and whether you have the exit strategies you need to have. If you give me the purchase price, the rent, and the semi-taxes, I will run the numbers for you. Email me at [email protected] and I will get something back to you asap.

Derek

I would highly suggest paying a property manager to rent it out for you and take care of the needs of the property. The tenant does not need to know that you are the owner and that saves you from having to kill yourself. You are paying rent just like them and I would leave it that way.

You could pay a property manager 10% of the gross rents collected for the one side and setup fees and when you do see problems, you can call the property manager and let them be the bad guy.

It's a small fee for a ton of peace...I would seriously think about this. I would never want to rent to someone living next to me without a manager taking care of it for me.

Derek

I let someone else finance the deals that I find. I do not use my own credit or cash and partner with friends or family to buy properties that I find. I find this to be the best route because I am not emotionally tied to the deal and rather can think through the best opportunities...

I like OPM.

Derek