All Forum Posts by: Michael Eastland

I am a new potential investor. I'm still lurking, reading, learning here. My long term goal is to take early retirement from my company within the next 2 years, and buy a couple of multi family properties to supplement my income.

My situation is that I currently live in CT and have a get-away place in New Hampshire. I am considering making my investments up there since the long term goal is to live there at some point but I am staying in CT for the foreseeable future due to family obligations.

My questions is, is it wise to try to be a long distance landlord? Especially since it would also be my first time? I have connections up there that could handle minor repairs and stuff like that and I am close enough that I could run up there if something big came up or there was a major tenant issue.

Any thoughts?

Wayne, I think this is his way of getting the lowest price by offering the seller a way out of a frustrating sale with no questions asked. If I am understanding everything he wrote.

isn't the property usually under contract by the time you have an inspector in place? wouldn't the seller be committed to that sale unless the buyer backs out because of the inspection results?

@Mike Hurney I know, that's why I am halfway to New Hampshire, will get there full time some day :)

all the more reason to avoid Massachusetts. sorry, just venting

this is very interesting reading, especially for someone like me who has not taken the plunge yet. I am still researching and learning. As they say in some of the seminars, Experience is the best teachers, but someone else's experience is an even better teacher if you take the time to learn the lesson.

It's April now so I assume the ugly tenants are gone and you can get your own better tenants this time around.

Thank you for sharing your experience.

ME

wow, very traumatic experience for you, sorry you had to deal with it all. I think you did the right thing by giving your other tenants the option that you did. I'm not a LL yet so I don't have any experience or advice to offer but I did want to offer some moral support.

Good luck as you move forward. ME

Thank you @Brandon Turner , great info indeed, I have read 2 of your articles and downloaded the beginners guide and will be listening to podcasts rather than watching TV. The more I read the more I get into this. Thank you everyone for your support. ME

thank you everyone for the warm welcome and feedback, it is appreciated. @Paul Timmins what do you mean by not having to own a property to control it? I'm intrigued.

Best,

ME

wow, that was a quick response, thank you. I have a lot of reading to do and a lot to learn but it looks like this is the place for it.

I'm a little unclear, what is the benefit of tagging someone in a message?