All Forum Posts by: Michael Fitts

Won't be able to make it. I have class Monday nights through November. Hoping to make the next meet up!

I closed on my first duplex in August of this year. It's owner occupied so I'll be house hacking. My first tenants moved in today to start the year lease. It was only a few weeks between when I closed on the property and when they moved in. I started showing the unit the day after I closed so that process went rather smoothly. The unit was pretty much turnkey but still needed some work. Like many first time investors I worked late many nights to put finishing touches on things to get the unit rent ready. I missed out on a few events with friends to focus on the house and I wouldn't have it any other way. During those times I was lucky enough to realize that I was doing exactly what I wanted to do. All those hours studying, reading, and learning about REI, finally buying a place, and moving tenants in was a long time coming. I've now gotten the real estate bug and once I've got this place under wraps I'll be excited to start looking for the next one. Just wondering how others felt when they finally got started.

Hey guys. Unfortunately I won’t be able to make the meetup tonight. I have to pack tonight for traveling tomorrow. Hope to make it to next month’s meetup.

Mike

Hey BP community. I'm currently closing on my first property in August (an owner occupied duplex). I heard on the podcast that this is going to be a BP conference in October where 1,000 individuals interested in REI will be attending. Since I don't have any experience yet, I was wondering if it's worth going to the conference now, or after I get my feet wet and know a little more. I want to grow a rental portfolio and learn different strategies for financing properties and pulling in partners/investors to fund deals. That way I'd go with the intention of learning how to best grow a portfolio. So question is, should I go this year or to a future one?

@Michael Craig One thing that came to mind was to require the tenant to still pay the currents months rent in which they move out. It may be up to you whether you want to prorate that rent value based on the day of the month they move out. For my lease I was thinking of requiring 2x rent should they terminate early. This can help cover your expenses should it take longer to find your next tenant.

My offer was recently accepted on my first property. I'm trying to get all my ducks in a row before I own a property such as people, lease agreements, general knowledge, etc. One person I'll need on my team is a handyman. I'm pretty handy myself but I don't know everything and it may be more convenient to have a professional take care of some issues. My question is: how do you find a handyman in your area and how do you know if they are good or not? Trying to be as prepared as possible for when I own my first property. Thanks!

Jason there’s a monthly Albany meet up at the Pump Station and Glens Falls meet up at The Queensbury Hotel.

I'm looking at investment properties about 40-45 minutes away from where I currently live. The properties are triplexes and 4-plexes. I grew up in the area so I'm familiar with the good and bad areas around where I'm looking to invest. Property managers are always an options or partnering with someone who may be closer to the properties or be able to go there more often may be a way to go. The deals appear to be good for cashflow so the question is where I keep looking at a distance or look for something closer.

Hey everyone,

I'm in the Saratoga area and new to the BP forums. Looking forward to attending this event and meeting other investors from the area.

Hey everyone,

I'm in the Saratoga area and new to the BP forums. I'm hoping to make the March meeting and meet up with other investors in the area. Hope to see everyone there!