All Forum Posts by: Mike H.

Yep I agree with the others. Do not buy real estate with your/their inheritance. You don't have enough to diversify and you should be lower risk with this money. 

Thanks Jay. I don't have an attorney lol. Don't see the point of an llc for us we have liability plus umbrella. 

Brian, in the example you used with the guy who loaned his car. Do you know if he had umbrella policy? I just got a geico umbrella policy for 1 mil. Wondering if I should read the policy lol. We have less than a mil in real estate equity , cash, retirement etc. 

I thought we'd be pretty protected with 300k in rental policy insurance and 1 mil on the umbrella. 

After reading this thread I'm not so sure now 

Stayed in East Nashville with some friends on the way to this music festival in Franklin. I was looking at listings around their place and saw quite a few price drops and 75 days on the market. I think it may be that people are putting that 'stupid' price up and not finding a sucker, more than indicator of the market. Driving around I was amazed at the amount of inventory on the market. 

I agree with some on here about college being a waste of money. For you that may or may not be true. I got a degree in finance and MA in construction management. This opened a lot of doors for me in my career. 

What you need to do is set goals then work backwards to where you are now and plan out what you need to do to achieve those goals. 

You want to be an 'investor'. Typically you will need cash, credit history, and verifiable income to obtain investment properties. 

Some jobs you could work to gain experience and money : real estate agent, construction manager or asset manager/analyst. 

Good luck 

Hi William, 

I use Trulia to list the rental. Then talk to a few people, tell them to drive by and let me know if they want an appointment. Then talk on the phone and get to them. If I agree to take their application they go to cozy.co and do the 39$ application and I review it and either approve it or not. 

I think I'm lucky because my properties are very close to campus and downtown so I always get many applicants. Believe it or not but I've only had about 2 months of vacancy total in 12 years 

Awesome. Thanks.

Ok that sounds great. Does he do the repairs? I'm not looking to hire someone that subs handyman work. I already have the subs like hvac plumbing pest control etc. Thanks for your help! 

Does anyone have a handyman company to recommend in Gainesville? Have one now but they have been unreliable. I have 2 sfh that I manage and need a handyman service long term. 

Thanks

I manage 2 sfh in Florida I've owned for 15 years. Now 1 condo near where we live in Brooklyn. So the two in Florida I've managed long distance for 10 years. I have a handyman, pest control, plumber, painter, carpet installer that I have developed relationships with. I call them and they call the tenants. I like managing them myself. The turnovers are painful and expensive. But it's worth not paying 2400 a year to a property manager plus all their extra fees. Good luck