All Forum Posts by: Mason Weiss

This is definitely normal. If you can have your living expenses be less than what they would be renting a primary residence I see it as a big win.

Hey @Travis Bohling, we cover utilities including internet in our monthly rate. It is easier for the owner and the tenant. 

For furnishings, we try and limit all concerns to over $25 items. No need to negatively impact the guest experience over one dish or mug. 

I think home with a view is a better long term asset, but my guess is also a higher entry cost. However, there is no better investment than a happy wife. Either option will make you wealthy over the long run so focus on getting aligned on what you both want in a primary residence. 

Hey @Shelby London, I started as an agent when I worked a W2 as well. Lean into utilizing your work place connections and circle of influence for your first deals. More than likely, these people will be looking at residential real estate which is why I think it is the better route for someone new. My first deal as an agent came from a referral of someone I worked with at my W2. Get your license, and then tell everyone you work with currently your new passion! If you are building good relationships, these people will be happy to support you with referrals. 

Hi @Elizabeth Conklin, I use Zillow to find many of my MTR tenants. Even today, I had an insurance company reach out to me for a family that needs a two month stay due to extensive water damage.

Sounds fishy, not sure your relationship with these individuals but I would have an attorney look over it before you proceed. 

Congrats on closing! Go to www.meetup.com and you can find real estate investing groups in your area. What kind of RE investment are you closing on? 

Very cool to read this! Choose your market and then build your team in that market. Curious why you aren't replicating what you just did to make another large chunk of capital? 

I don't think most renters think through their argument but I would say there has not been a better case recently for renting instead of buying a primary house. You can rent the same house in Arizona right now for 75% of what your monthly PITI. Then throw in covering maintenance, Cap ex, and HOA, you could save a large amount of capital monthly. Not saying this is the right route for everyone, but if you are low on cash reserves renting might me better for those starting out until they can make more money.

Continue to let your tenant pay down the mortgage, the $800 extra is enticing right now but what if you want to use your IRA for something else 2 years from now? There is opportunity cost that has to be weighed and examined as well. I call these good problems to have because neither option is bad and now you get to decide how you want to grow further.