All Forum Posts by: Nicholas Wilson

@David Lee Hall, III

I do have some contractors that are family friends that I know have done some flips for other investors so I might give them a call. I’m not sure if they would be willing to front $30k-$50k until it’s done.. also I bought my first deal below market value with no tenants and did some miner updates and now have two paying tenants. They pay more then any previous tenant that I’m aware of. The money I would be buying the second with is the equity from the first..

@Kevin Felmlee

Central pa near state college

New investor looking at my second deal. I currently own a duplex in a rural area of Pennsylvania that is cash flowing. I’m looking at a triplex that is also very rural but still close to amenities. They are asking $25,000 and I was thinking I could pay cash for it but then I have nothing left for renovations. If I pay cash could I immediately refinance it to get renovations done? What are some of my options? Maybe find a contractor that will front me the Reno prices until after it’s done and I can refinance it?

@Pavel K. Do you get notification that the rent was paid before it hits your account? If I have to wait a couple days to know if I got paid I’m behind the game for late charges and possible eviction process.

I am new to real estate investing, I will be goin to look at a SFH this week with a renter already in it.? What are some questions I should ask and anything I should look at besides the basic home stuff?

@Nathan G.

My area is low population and I have browsed around and only found on that advertises for landlord/tenant representation. I live not far from a major university I thought there would be more.. but I will give them a call and ask more questions on Monday. Thank you

I’m looking into buying a rental property in the next couple months. I have been doing lots of research and have heard people saying to get an eviction lawyer. I was wondering should I contact one now before buying a place or wait until I buy a place? Also how do they charge? I have never worked with a lawyer in anyway so not sure how they get paid. Any help or suggestions would be appreciated. I have some friends that have rentals and they have never said to me about getting a eviction lawyer but if they are cheap enough for and can help me relax it is worth it. Thanks all

Hello I have been researching and thinking about buying a rental property for a long time. I currently have a young family, house and mortgage. I have been thinking of buying a place in my area and using a HELOC for the down payment. A family member has agreed to partner with me to help me make any payment that I might get until I get a renter. I'm not sure if this is a good idea or not. I'm very confident that in my area I can buy a house for around 60k and get a renter to pay 700 a month or more. I'm just wondering if anyone has done anything like this and if you would have pointers.. my wife is very nervous about doing this and I need something to calm her nerves. Thanks..