All Forum Posts by: Quota Thornton

Hello everyone! Right now I'm saving my money and repairing my credit so that I can secure a property when the time comes BUT the issue is I've been looking on Realtor.com, Zillow, Trulia, and Redfin but there seems to be extremely low inventory in my area! Does the MLS have more listings than these sources? I'm wondering about other marketing strategies such as driving for dollars whenever I'm off. What do you guys think about this? How can I find deals? Thanks!

Hello BP! I have a question. Once I get going as in I purchase my first few rental properties, should I create a website that showcases the properties and/or availability or is that just doing too much? I would appreciate you guys’ input!!

Thanks! 

Ok I see what you did there. I think the mistake I was making was accounting for taxes and insurance twice and also using 10% for the other expenses as well. I’m being a little TOO conservative it seems. I do plan to manage my first property myself so I have been accounting for property management. Thanks for the clarification! 

Hello! 
I know that during analysis to get the NOI you take the rental income and subtract the operating expenses. Then to get your monthly cash flow you take the NOI and subtract the mortgage. Aren't taxes and insurance an operating expense?

So when subtracting the mortgage do I just subtract PRINCIPAL and INTEREST since I already subtracted the taxes and insurance as an operating expense? I would appreciate some clarity on this matter!!

Thanks!!!

Hi BP community! I have a few questions and would appreciate some input! 
1. What does it mean exactly to overpay for a property? 
2. How do you know you’re overpaying or have overpaid for a property? 
3. What negative effects does overpaying have on a rental property? 

Thanks!

 Thanks! I’m definitely going to consider one. I would hate for my first investment to be a disaster due to a lack of proper management :(

 Thanks and I will! I’ll refer back to BP during my search for a good one when the time comes! 

Hello everyone. I made a post recently outlining my future prospects of getting into real estate. What I failed to mention is that I’m an OTR truck driver which means I’m away from home 4-6 weeks at a time. However, an opportunity presented itself for a job where I’ll be on the road 5 days and off for 2. Still, I will be away from home so my question is what is the appropriate approach to investing with my particular lifestyle? I want to house hack so I’m guessing I should probably go with a PM for the days I won’t be home. What do you guys think? Thanks!

Hi everyone. When a lender looks at employment, how long do they prefer you to be on a job? The job I’m at now, I’ve been here a year but I’ll be starting a new one next month for more pay. My goal is to invest in my first property this year but I’m not sure what the length of employment is for lenders.