All Forum Posts by: Ryan Billingsley

@Nick Doria@Account Closed

Please do share your thoughts once you get a chance to watch it.

@Patrick Maynard IMO I would definitely leave your investment property leveraged. You get a better ROI with it leveraged and interest from the loan provide tax advantages.

Paying off your primary residence is a different story. Most would consider a primary residence a liability so this would lower your liabilities that you owe each month. You could always open a HELOC if you need to access that money in the future.

@Emmy K.

I am using Cozy.co

I just started using their service and tomorrow I will be receiving my first payments from tenants.  It is a free service for landlords.  It is also free for tenants to use if they pay using their checking account information.  If they chose to use debit or credit there is a charge.  

I just watched this movie last night.  It is available through Redbox.  It was actually enjoyable.  Michael Shannon's performance as the crooked investor/broker was great with some great dialogue throughout.  He made some great points about not getting emotionally attached to real estate.  Shannon's character was the villian, but something about him made you like him anyways.

Definitely worth watching.  It was nice to see a movie with real estate investing even though it portrayed him in a negative light.  I heard it is based off a true story.

Anyone else watch this movie?  If so please share your opinion! 

@Mindy Jensen Thanks for sharing!

I was curious to know if bigger pockets keeps statistics for the members that use the site.

For example:

I would love to know which state has the most members on bigger pockets, which state has the most plus and pro members.  Which state has the most active members etc.

It would be informative to see how many investors / entrepreneurs are taking advantage of this site from each state.

@Brandon Turner @Joshua Dorkin

Is this possible or available?

100% direct mail off market

@Thomas Gray

How to Invest in Real Estate without Banks by Marko Rubel.

This is a good book that explains subject to.  You will have to overlook the guru part of the book, the author does a bunch of advertising/selling for his guru services.  You can get in kindle format for a couple dollars and its a quick read.

@Christa P.  Most important thing is the #s.  Does the property need any work to make it rent ready, if so how much will this cost?  What is the condition of all the main systems and expensive items such as roof, windows, heating/cooling, electric, plumbing, etc.  Will they need to be replaced in the next couple years? 

When analyzing the cash flow you should account for vacancy, maintenance, property management (even if you do not use this you should still account for it to pay yourself or for future management), insurance, taxes, and mortgage (principal and interest).

Have you done your homework on the area, ARV of property and rent amount?

You will most likely have to pay for an occupancy inspection with your local municipality before it will be rent ready, have you called them to see what it cost and what they look for? Some municipalities require a landlord license as well.

Do you have a plan for marketing the property to find potential tenants once it is ready to rent out?  Do you have a tenant vetting system?

These are a couple items you need to be prepared for when buying a rental.

@Marco Santarelli

My condolences for your loss.