All Forum Posts by: Ron Drake

make sure the Mentor is worth the money first. Plus, everything is negotiable, so ask for a lower fee if they check out as someone worthwhile. Do your due diligence here.

I have invested far more than $7,400 and it was the bones of my business. I had the Guru in San Diego plus paid to go to other seminars just to see what other had to offer.

If you were in San Diego I would tell you to go see Ward. His class was if I remember $6,000. It didn't cost it paid. Big time.

Since on scenario #1 you don't start making any profit/return until you have paying tenants that is hard to measure.

Scenario #2 sometimes less sometimes more, sometimes quite a bit more.

It is hard work just like any job

Good to see things are working out and you are keeping a positive attitude. Something to be learned from every deal you do.

the plifering grandmas...I love it

Wow! Good stuff Michael.

I would double check on the abandoned property procedure though if you ever have to go there. That seems um,...to good to be true lol. In CA you have to store their stuff for 15 days if it is valued over $300.

Thanks Jennifer, Michael and Stephen

All helpful information. From what I could find on my own it looked like LA was pretty landlord friendly. A lot like Las Vegas and a whole lot better than California. I am looking at the Lake Charles / Sulphur areas. 

Can any of you clue me in to the flood zones and insurance for that area. Property is designation X.

Also, are parishes like counties in other states?

I think I figured out a little bit. Any landlords from Louisiana?

Brandon, Rick & Jon, Thanks for the welcome.

Sometimes less is more. Meaning, buy less but nicer properties in better areas.

Have you driven by these houses? Not sure, you said you weren't comfortable doing it. I would not feel comfortable investing where I wasn't comfortable going. If you can't get a solid handle on condition of each unit, then you may always get taken advantage of. You don't know what you don't know.

Your property management company and their contractors may not like these areas either and charge accordingly for going into the war zone.

The Renters Insurance we require also must include $300,000 liability insurance. This way, if our tenants or one of their guests is injured on our property, any claim will be against their insurance company.