All Forum Posts by: Ryan Schrope

Hi Pam,

I highly recommend you guys read "The Book on Managing Rental Properties" from the BP bookstore. In it they discuss regulations for handicap tenants and a ton of other very useful information! I would check with your area but in general you have to be willing to accommodate handicap tenants if they pass all other criteria in your tenant screening. However if they need any accommodations it should be up to them to pay for what is needed. Also always be careful with someone saying they need to move in quickly, making sure to do your due diligence and background checks before proceeding!

Depending on what exactly you're referring to as Jax, there is STR regulations beachside. However as of now Jacksonville itself is fair game. I myself do not currently own any STR here but am working towards it as well!

I would recommend writing out clear goals for where you want to be in the future. This means looking at your job, credit score, spending habits and more. Once you have done this you can start looking at small improvements you can begin making to get to that next step. Spend a ton of time reading and being intentional and before you know it you'll be ready to get started!

I wouldn't work off of your fear of the market crashing soon. If you find a deal that works well and plan to hold this as an investment, it shouldn't matter if there's a dip in the short term. Also, I wouldn't consider it to be a rushed decision if you have spent your time doing the research and putting a plan into place. As long as you've done all of that, the best thing you can do to start your investing journey is get going!

I would use it to fund a major apartment complex deal! Best to get the actual cash out of hand and get huge cash flow going ASAP!

Well you could always try to move into the duplex to lower your downpayment. Otherwise I personally wouldn't recommend it simply because using all of your cash in one deal would probably not leave you in a very good position as far as further growth and reserves. If you can use that same money on more deals with lower down-payments (House hack, BRRR, etc.) you would probably get much more experience in a shorter amount of time!

I totally agree @Jaron Walling! That's what has been tough, because I'm ready to go but am just moving too much at the moment to find a good way to get started. Basically I don't want to be another one of those people that reads every book and never takes action. I do expect to settle somewhere in the next year and then I will definitely be off to the races, it's just this in between phase that's getting to me.

Hey guys! Been following this community for a while now and very excited to get started! I had always planned on starting with house hacking and go from there, but I have a bit of a unique situation. Since graduating college my wife and I have been traveling all over working seasonal jobs so we can explore! Because of that we don't stay in one place for more than a few months and can't really get our own place. I've been thinking of trying to do a long-distance BRRRR but am not sure how smart that would be for my first REI. Any suggestions? Thanks!

Hey Anshul!

There are many great ways I've learned about scaling your portfolio quicker! While it's true it takes a lot of capital to buy investment properties for 20-25% down, there are many other ways to get going. One awesome method is called the BRRRR method, which you can read way more about all over this site or in the book by David Greene. They also talk a lot in BP podcasts about creating a scalable income in your niche for stair-stepping your portfolio up to keep it from staying stagnant or having very slow growth. Hope this helps!

Cheers