All Forum Posts by: Logan Graham

@Yonah Weiss I got my degree in Business Psychology. Some days I wish I focused more on finances but when it comes down to it I am am glad I got the degree I did. I believe any degree is better then none of you learned something.

@Mark Franks I am not sure about the PM jobs. I just took a PM a year ago because I wanted to learn more about it and that has been great. But I think any classes that you take that help you learn more about money and business will help.

When it comes down too it one class isn’t going to teach you everything. To really learn something you have to do more research and studying after you finish the class for you to really learn it.

I took a real estate class in college and honestly the best thing I got out of it was learning about BiggerPockets. They don't normally have a lot to offer that isn't already on this website (and networking). I think the best subjects that would help with real estate would be business and accounting classes. Those are hard skills that you will need to run your real estate business. 

Great job! That is exciting that you were able to try out a BRRRR and have it succeed! I am hoping to move to NC in the next few years and it is good to see success stories down there.

I am not 100% sure about the Syracuse area for buying a house but if you do make sure you understand the NY landlord laws. NY state is very tenant friendly and will eat all of your profits if you don't know the law. I live in Rochester and work with these laws everyday. It's not impossible to make money here you just have to be smart about it. 

https://legislation.nysenate.g...

Here is a link to the new law. Should be a fun read...

I am also interested in getting more involved.  

What I would do is buy the cheaper house and rent it out and start looking for the other house soon after to keep growing your portfolio. 

1. This will help you get your feet wet with having a tenant and understand how everything works

2. I think in the long term you will be better off buy more houses earlier and then holding them for a longer period of time 

3. If you ever want to rent out the whole house I have found it easier to rent 2-3 bedrooms because I have a better demand for that. However, that depends on your market though it could be different than mine make sure you look into that 

Don't be held hostage by your tenants. In regards to the dog you do have to make sure your insurance allows that type of dog first (I like to blame my insurance for a lot of dog related issues). You also have to come up with a pet agreement that tenants can sign that way in the future you can avoid this. For now you have to think if you want the risk of the dog ruining your apartment... Some times tenants will say if you don't do what they want they will move but it is just a bluff but not always. What is your policy now on if they break their lease?

I am not sure how they check but they are on top of it with an FHA loan. Also, by not living in the house for at least a year with an FHA that is mortgage fraud. My best advice is always to obey the law.