All Forum Posts by: Account Closed

Quadrant*

The One Thing by Gary Keller

I really like the Kiyosaki so if you liked those two check out Cashflow Quadreant @Rosston Smith

I have always invested in single family homes and have done pretty well so far. Recently I have been looking into apartment buildings (8-20 unit) in the Cleveland, Oh area. I am trying to get familiar with the market and learn more about it.  I am going to work for a property manager in a few weeks to learn more about it but I wanted to see what the BP community was thinking on a more macro level.

I see a lot of opinions that these investments are at the top of the market and some people are predicting a bubble in the market because people have been blindly buying up these properties. Some still say a great investment. 

Thoughts?

RIch Dad Poor Dad by Robert Kiyosaki

Great book, wish I would have read it when I was your age.

Also the bigger pockets podcasts are awesome, I listen when I'm driving and working out

Good luck

Rob

Definitely suggest putting the property on postlets, I get 90% of my inquiries through that website.

I have properties in neighboring cities but they are two very different markets. Before I got into a new rental market I went to homes that were being rented, pretended to be an applicant, and asked a lot of questions. Helped be find a good price range to list the house I was going to buy, gave me a good perspective on how competitive the market is, and I got a good understanding of what is expected from tenants as far as utilities and lease agreements.

Not sure if this would help you out or not but worth a shot, maybe other property managers are offering something you are not.

Good luck and keep working!

Rob

Congrats! Sounds like you closed a great deal and did a good job finding a balance between doing your homework and pulling the trigger. No matter how much you read/prepare there will always be bumps along the way and you are not going to know everything.

Good luck with #2!

Rob

Financial freedom is definitely a big one as well as building a legacy to pass on to my family. I also just enjoy working in real estate, I like going to seminars and networking with other people in real estate and owning property gives me a sense of accomplishment.

Tabitha,

I have purchased and sold a few single family houses, closing another one this week. I am very similar to the point where I love learning and getting as much information as possible. I am going through a similar situation as you, I am looking to jump over to multi-units and apartment complexes and have been dragging my feet because I am unsure about what all comes with it.

Having said that, I have found the best way to learn is pull the trigger and get into it. You still need to determine if the house is right for you and what kind of risk you are willing to take on but don't let the unknown keep you from investing. Reading, seminars, REIA's are all great but I personally believe the best way to learn is do it.

Good Luck!

Rob