All Forum Posts by: Manmath D.

Ok. So here it is. This is my first so to speak rental. I bought a duplex last year and had a tenant in place. This tenant has been good so far, paying rent on 1st of the month (Haven't done final exit inspection yet), no complaints and so far so good. She will be vacating her unit end of September, and now I need to find a replacement. I already have lease from BP. I have sevreal enquires so far (word of mouth) for the place. Question is How do I proceed from here on ? Do I just go to cozy, sign up and it walks me through tenant screening and rest of the stuff. All these enquires have asked me for an application and I do not have one in hand. Do I just direct them to cozy ? I also need to advertise this rental on Facebook.

I could also hand this over to management but I would like to do it myself for few months before I turn it over to mgt company. Any input is  appreciated. 

So I took over this duplex last year. There was 4 ft tall chain link fence on back of the property. Right behind is an easement where there is lot of foot traffic( mostly from low income apartment down the street and bunch of hobos walking around). I also saw that there was bend on top rail which indicated small section of people jumping over my 4ft fence and crossing my property to get to other side. Doesn’t look like heavy traffic but just few kids and who know. But anyway I decided to raise my fence to 6ft using post extensions hoping it will deter trespassing. I asked my friend who is a roofer and does not have fencing experience to help me put this fence up. Looks like a good job but not very professional. I spent close to $ 2500 ($900 labor) to put up 300ft fence.

I just walked around to see how things are and found that people took out the clips holding chain link to fence and started crawling under damaging my chain link.

Just called fencing company and explained them what’s going on. Upon hearing me the lady said it looks like job was not done well and they will stop by to look at it.

Hoping to take care of trespassing issue on the property and who knows how much fencing company is going to charge me for proper installation. 

How are these different than Jake and Gino’s coaching? I’m thinking of joining that group. I’m still a newbie and trying to soak in as much possible. I should have some capital (100k) to deploy next year and see how to make best use of it.

@Reinhard Kurzen I just started looking at Spokane market. I’m still a newbie and trying to learn all the ins and outs of this niche. Last week I reached out to a broker in Spokane and got financials on a listed property. Will run the numbers and see how this works out. What parts of Spokane are you looking into ? I’m trying to understand the city. Good/bad, stable neighborhoods and other data.

@Raphael Collazo after reading ur reply in other post, I’ve already finished reading No 3 book by Brandon and just finished reading “Crushing it”. I should have Multifamily millions in hand by next week and get to reading it. Next step start looking for investment property along with networking. Also seriously thinking of investing in Gino’s wheelbarrow profits elite program.

@Michael Ealy congratulations!!! Being a newbie I’m soaking in as much as I can from this forum and learning every day. My next step will be to take action in parallel to learning from big guys like you and others here on BP. After months of reading I finally asked a broker for financials on a property and plan to find that investment property. Congratulations to you and your team.

@Amber Saulsbury I was just referring to earlier posts. I just started learning about MF and was shocked to read all those low cap rates. But then I see there are other ways investors are getting deals done.

Why would anyone invest with such a low cap rate ?

 Interesting!! Just curious, Only 25k to invest with a syndicator ? Looks like that's such a a low amount to get in. How much return can you even expect to get with such a low investment in MF ? How aggressive can one grow with this strategy ? I have 100k and there are times I feel that's not enough to start with in MF. At this stage I'm more focused on learning as much as I can here and plan to jump in by next year.   

@scott schaar Thanks for the feedback. I've been debating all day if I should go to their bootcamp. Next one is in Las Vegas and not too far away. Frankly I only have 100k in capital. And I feel 3k (Entire trip expense) invested to learn at this bootcamp will help me use that capital wisely. I'm new to REI and trying to soak in as much as possible. Thanks again.