All Forum Posts by: Michael O.

I think @Nathan Gesnerencapsulated it brilliantly but I would add Integrity as the most important quality. 

It depends on your risk threshold because you have to factor in the cost of extra flood insurance which might cut into your cash flow and also if the property is in a flood zone and there is a flood, your property may be flooded which may lead to lost income due to it being evacuated and an extra cost to rehab the property when the flood abates

Hello Lawrence, fellow newbie here so take my advice with a huge grain of salt. I think you should ask your real estate agent to refer a good property manager and contractor, they usually know people or you can go to the bigger pockets forum for the area or city you are investing in and ask people who are already investing for referrals for a good general contractor they have used before. If you get good referrals I would advise that you still thoroughly vet them and hope for the best. As for vetting them you may want to use @Steve Rozenberg`s exhaustive checklist as I think it covers everything. Congrats on your 1st investment and really hope you crush it. 

Good on you Robert, hopefully you will get your own deal soon. Keep increasing your knowledge and looking for good deals. Good luck

Hello Ethan, I am a newbie like you and I am in the phase of trying to learn enough about RE investing and educating myself. I think that if you have educated yourself and find a great deal that cash flows you should go for it as time waits for no one. I would also advise you to find people that you know who are in to real estate and have done some deals and have some experience and ask them what they think about whatever property you are thinking of buying. I think if you get a great property for the right price and you manage it well with good tenants with decent cash flow (easy right, ha ha) you can ride out economic  cycles. You basically answered your question at the end, I think you should go ahead carefully and as they say just do it. Good luck