All Forum Posts by: Michael K Gallagher

@Joe Miller welcome and congrats on jumping in!  persistence and consistency is for sure the recipe for success.  Hope to see you around cbus sometime soon!

@Nate Secor I'd agree with @Marc Rice and @Steven Foster Wilson about Columbus OH.  In that price range you can get into duplexes as well here and increase the gross monthly rent over a single family.  Depending where in the area you buy you can get into a nicely rehabbed on market duplex for that price range, that should fetch in the $950-$1200 per side range (that's fairly conservative, depending on the area you can push 1400 per side), again depending on the property itself and location.  

@Keenan Steverson I agree with the sentiment here. My application criteria is as follows:

- 620 credit score

- 2.5-3X gross income to rent ration

- no criminal background.

If they meet all of that, and the references/information checks out...they are automatically accepted and I present them with a lease.

If they do not meet 1 or more of the above, I work with them to get additional documentation and references if they are still interested.  I

@Steve Baldwin Count me in!  I have a pretty large fenced-in back yard in Franklinton, and would be happy to host one of the meetups if that would be value added.  

@Anthony Buccanero if you are a project manager and are comfortable with processes and "following the lease" and it sounds like you are treating this like a business from the beginning so I'm sure you all will do very well.  There is a ton of uncertainty in the beginning but trust me, if you are comfortable with those things, thats where most people fall behind and get into trouble.  I think you'll find that you will become very comfortable with it all very quickly!  I can't wait to follow along in your journey and hear more!

@Brian Keegan honestly, if your attitude is "any realtor can sell it" just FSBO it. If you see value in a realtor and they are not getting anything on the "buy side" because you are moving out of state then pay the full commission. In my opinion you get the service you pay for. Discounted cost gets discounted service.

Totally just my opinion though.

@Corazon B. Honestly it’s the simple stuff....run them through an application process like on Zillow where they have to pay, that filters the not serious ones out, and then just actually call references/jobs/employers to confirm the info. I set some some guide lines for my tenants...example: 600 credit score, 2x income to rent multiple, and no criminal background. If they meet all that and the references check out, it’s an automatic application acceptance and I present them with a lease. If they don’t meet one or more of those I’ll ask for additional documentation and or references and take another look as a whole. But you need that standard in writing and published and to follow it to avoid any discrimination issues.

@Ryan Thomas agree! I mean they were ok books but “Sold” was far superior in my opinion.

@Grady Benton one of my favorite businesses authors is mike michalowicz. His book “Fix this next” was amazing and so was “pumpkin plan”. Very enjoyable reads. For sure in my top 5 from last year.

Hey @Anthony Buccanero congrats to you both on jumping in!  My wife and I are also an investing team...still in the beginning stages.  We started with a house hack, and now have moved onto another single family but still have that duplex.  I also self manage it so I would be more than happy to connect and learn more about your goals and help in anyway I can. I worked previously as a manufacturing engineer so I live and breath processes and documentation so I've got lots to say on those topics if interested!  Feel free to reach out here, via DM or my cell is also in my signature.

Cheers,