All Forum Posts by: Neal Stanfield

@Chris Bounds t te bank you. Great point. Any local PMs you have had success with (you can message me directly if you prefer).

I’m moving out of my home and would love some advice about turning it into a rental. My goal is monthly cash flow. I have the capital to buy another home for us to live in, I don’t need the equity out of this home.

- do I first get renters in before I buy a new home or does it not make a difference (I can just go live in an Airbnb until I find renters and identify a new home to buy)?

- should I hire an attorney to get paperwork/contracts in place.

- advertising it (Zillow enough?)

- do I need to change my loan so it is under my business Llc?

- best practices?

- hire a management company or not?

The numbers:

- 4b/4b (+ two rooms in the finished basement).

- 3,600 sq ft (included basement)

- mortgage and insurance monthly costs: $2300

- monthly rents in my area for similar home size: $3,100

-

Can't miss annual REI conferences you attend... I mean watch (#COVID19)...

I am new to real estate Investing and always want to have a “rookie smarts” perspective by continuously learning.

Can you share your top annual conferences you join?

Thank you

Hi, I’m looking for an attorney who specializes in real estate investing and has more or less 20 plus years experience in the Colorado market.

The context is I am starting off my RE investing in Colorado and want to make sure I have great partners/relationships here locally. I also need to make sure my contracts and business organization is set up appropriately. Lastly, I’m looking for insights into trends they see locally from a professional legal standpoint.

I’d love any recommendations.

Thank you,

Neal

@Neal Stanfield *Shopping

I'm about to buy a property (3/2, $95k) in Indianapolis Indiana that is already rented and recently built. I'm shipping mortgage lenders with specialized experience with REI properties in Indy.

Let me know if you have time to chat this week as things are moving quickly.

Neal

@Sherwin Gonzales

Hi sherwin, thank you. I just added my name to the meet up.

Next week I’m only there Feb 4th, so I’ll look for the next meet up.

@Neil Goradia Hi Neil, interesting enough, I live in Denver but am targeting Indianapolis now for REI. I'm new to REI and would love to hear your story (I read your profile about doing a 41 home development project and then moving to Asia).

I’m free for coffee or lunch tomorrow between 12-1pm.

Cheers

@Cory Lucas this book changed not only my business but my marriage and relationship with my kids.

Crucial Conversations: Tools for Talking When Stakes Are High https://g.co/kgs/gy2rSW

YouTube 5 min summary: https://youtu.be/EFaXx3pgaxM

@Neal Stanfield I’ll be out there in February.