All Forum Posts by: Nate Fanara

Citibank has a 2.2% savings right now, but there are holes you have to jump through. I use discover bank which is at a 1.80% now (maybe a 1.70%, i cant remember) for my personal stuff. For Business, I just opened account with Ally which have 1.70%, I like my personal finances being at a separate bank than business. It helps me keep things in order mentally.

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Originally posted by @Lori Greene:

@Nate Fanara Some county sites have this info downloadable from their site. Others you can call and ask how to get the info. Some title companies in the area might run these reports for you but may charge you. The other option is to build a power team in the areas where you are investing and partner up with someone asking them to go to the county offices to get it. Again you can get these lists from list sources online but getting it straight from the county can be more up to date. You can find a list of county websites at naco.org or just by googling it.

i actually found the list online on the counties site list you mentioned. i sent them an email to see what options are available since i am out of state. They mentioned that 3rd parties can be used but need to have the funds and ID present with them. in the future i may try to have a friend go on my behalf

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Originally posted by @Lori Greene:

You can buy a list because it's more time effective to get more addresses quicker. But sometimes those lists are outdated. Plus everyone is buying them. We find it more up to date and a little less competitive to spend a little time getting pre-foreclosures from the county by searching or asking for the most recent Notice of Default records (that what it's called here in UT, in other places it maybe called that or Lis Pendens or Sheriff's Sale). You can also get the Tax Sale list and possibly buy a property before the sale happens (in deed states a tax sale is similar to a foreclosure auction, in lien states they're only auctioning a lien to pay off the taxes).

i wonder if i can do this considering i only buy out of state.

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Originally posted by @Charlene Fetzer:

@Sammy Lyon Thanks for sharing your story! I am a new inspiring investor and I love to hear how people got started.

I am curious, what made you decide to invest out of state? I ask because I currently live in Atlanta (where I was raised), but my heart lies in Denver (where I lived for a year after college). I dream of a multi family property there and would like to house hack the property to start. Any advice for someone interested in looking out of state? I know there are resources and books to help with this topic as well, but always nice to hear from personal experience.

Thanks and best of luck!

I invest out of state and the best thing i can tell you would be to network and go meet people. I have a friend who was investing in the are i now buy, i took a trip with them to meet his contractor, wholesalers, people who share the same interest. Since then i have gone back and made the trip on my own and now leverage that same group of people for my investments.

all about networking

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Originally posted by @Joseph Brown:

@Sammy Lyon great job. You want to net 60000 per month net flow. I would think with 30 units the numbers would be better than that? No?

That would be $2,000 per mo (cash flow) from each property. Seems highly unlikely. I think he was referring to 60k per year.

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Originally posted by @Michael Heredia:

Originally posted by @Teresa M.:

I've used both Zelle and Cozy. The problem we had with Zelle was their limitation with how much the tenant could send depending on the back the tenant banked with. Our first tenant banked with Chase bank and had no problem sending $1100 at one time. But the next tenant was with a different bank (I can't remember which one) and had a limit of about $500 a day. It was a problem so we moved to Cozy. I like Cozy pretty good. But I do miss the convenience of getting rent immediately with Zelle as opposed to waiting 5 business days with Cozy. You can pay about $3.00 a month per property with Cozy to get the rent in 3 business days I think. But still not as good as getting it immediately.

Great information. Thanks! I wonder what are the Bank of America Zelle limitations. I'm not finding it on their site. I believe Wells Fargo has a $500 limit.

i know that i have sent $1,200+ through Zelle with BofA when i was having my backyard redone

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Something i am most self conscious of in life is my lack of a college education (although i am working to get one - slowly). I have been fortunate enough in life to get ahead by learning skills that are desired. That being said, the life i have (including the investments i make) would be impossible without a Diploma.

I work now so i can not work later. I invest and i save heavily and hope to be out of the workforce by the time i am 40(ish).

Some people make it without a Diploma but for every 1 that achieves their hopes and dreams, there are 100 that don't. Stay in School

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Photos, especially of the exterior make it hard to tell what i am looking at. Also noticed that some lights have an amber (yellow) glow while others are white (daylight). Id address that, the old style ceiling fans and maybe even the fireplace (if needed).

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Primary residence, Buy. Phoenix continues to be one of the fastest growing areas in the country year over year.

Rental..........I'm not sure. I like to follow the 1% rule and i am not sure if that is obtainable, but i also don't buy investments locally (i'd like to though) so i have no insight with this.

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I'm no pro but I think you should sell and look outside if California if cash flow is what you want. As rent goes up so do other expenses, and I saw early in the thread that in 52 no thanks you will be positive. IDK about you but 52 months is a long time to be paying on an INVESTMENT.

Now if you want to turn around and sell this property in 5 years for a profit or reside in it yourself at some point then that is a different story.

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All Forum Posts by: Nate Fanara

Nate Fanara has started 3 posts and replied 33 times.

Post: Should I Open a Savings Account - Where?

Post: Where do you usually get addresses list for marketing?

Post: Where do you usually get addresses list for marketing?

Post: From teacher to 10 units in 10 months!

Post: From teacher to 10 units in 10 months!

Post: Zelle Vs. Cozy for collecting rent

Post: Dropping out of High School.

Post: My flip isn't selling

Post: Time to buy a house in Phoenix, A?

Post: Negative cashflow on Rental Property .