All Forum Posts by: Nathan Norway

Looks like a general consensus on this! Definitely have separate accounts! Makes it easier to use that money and cash flow to reinvest into your business for more properties or property upgrades along with the benefits listed above with taxes and business efficiencies. 

Kyle, could you elaborate on this? A best practice would be having what utilities they are responsible for in the lease and potentially providing them with the appropriate contact numbers. (Electricity, Gas, Trash (if applicable)). I'd check with your lawyer about it for state specific info as far as utilities and the timeliness at which the tenant puts them in their name.

Annie, you might be able to post in the marketplace seeking a lawyer (and probably tax professional) to better assist you with this. You want the best professional legal advice possible to minimize loss! 

Best of luck to you

Adam, I'm a little more North than you but here's the BP Events link
https://www.biggerpockets.com/forums/521-events-and-happenings

Also you can download the meetup app, there are usually investor groups and meetings you can find on there

Kevin,

I suppose it depends on your situation and how much that 20% would save you month to month on that property. If you could take that money and buy a rental with greater Cash on Cash return, wouldn't that be money better spent than on a down payment? How would you place valuation on that 20% down payment money, and what are all of your options with that money? Best of luck!

@Marduk Mooshoolzadeh well for research starting I'd look at some articles on the blog here or books about real estate investing online (this site, amazon, etc.) figure out which area of REI you want to go after and that should give you enough to determine how much that 10k will get you.

For example, I’m evaluating a single family home as a rental with seller financing where I can put 10 percent down. Asking price is 85,000 so that would be 8,500 down, plus taxes and insurance is pretty close to 10k if that’s what the purchase price ends up being!

Hello! It is entirely possible to start investing with 10k. There are apps like fundrise that you can invest in shares or part of a real estate fund, you could purchase a property and live in flip. You could potentially find a seller financing deal with little or no money down on it. There are a variety of different paths just do some research and see what the best fit is for you!

Nicely Done! Share the details please! Keep that momentum going and good luck on your next deal!

My best advice is just be honest and upfront with what you are doing and what your goals are! A good RE agent that understands investing should be happy to work with you in hopes of consistent business! It will most likely require speaking with multiple agents to find one that is a good fit for both you and the agent but just be consistent and straightforward!

Well I believe there are a lot of factors to consider. There are a lot of younger people that are looking to get rich quick. Instagram accounts of REI's can post lavish lifestyles and make it look easy but reading any number of REI books will show it's about consistency and being able to commit for long periods of time.

I have one property to my name but my wife and I are working tirelessly and have 2 in seller finance discussions and are looking for more to lock down for next year. 

Owning / Running a business requires skills in so many different categories and consistent growth and research. That requires drive that ultimately some people have and some might not in all age groups! 

Verbal communication is such a valuable skill in this field and should certainly be worked on in hopes for success. I love how BP can keep me accountable and keep me on track for my own goals!