All Forum Posts by: Greg B.

Welcome to Bp Ejaz Syed. Come on over on July 23rd and meet some of the DFW locals.

http://www.biggerpockets.com/forums/56/topics/73260-july-2012-dfw-meetup

Welcome to BP Bill Mckillop

What is it now, 41?

It's been great reading your stuff through the years. Have a happy birthday and wishes for many more to come.

Brian Hoyt, here's a link:

http://www.biggerpockets.com/forums/56/topics/73260

Welcome to BP Jared Vidales.

That question has been debated many times. It is going to depend on your desired standard of living and the location of where you will reside.

It is far cheaper to live in DFW than some parts of the northeast. Also, some of us live a little more simply than others.

I did live on rental income for a while. It was 2008-9, during the lending lock up. Nothing was happening in RE and I was bored. Had go go back to work to break the boredom.

Some things I did learn, you better know what you want to do when you quit working. Also, you better know how to keep growing your income after quitting because you can't go to the boss and ask for a raise. When to property taxes and insurance rise 10% and you can only raise rents 5% your net income just took a hit.

I currently manage 10 active units and I do work a full time job(school teacher). It has all been fairly easy until I just had 5 tenants move out at once. I lost 50% of my customers at the end of May WOW. I now have 3 of those units leased and should have the other 2 rented this month. Talk about a learning experience.

Good luck to you.

Thomas Handy let me know when you are around Dallas. Maybe we can do lunch or supper?

About 3 weeks away. Getting about time to make the reservations. Anyone planning on being there July 23?

Joshua Dorkin, I do share info about BP at any function that there are REI's involved. I was just talking to 2 REI's at a Toastmasters meeting last night.

I am kinda following Joel Owens style of networking. I would rather go to lunch with 2-3 REI's than do a mass meeting. I learn more from smaller groups and feel a little more at ease sharing some of what I know. Also, we compare what we see in local markets and contractors.

I second the poly. It makes old hardwood floors look amazing!

I also do vinyl tile in other rentals.

No carpets in any of my rentals.

Yes I provide a fridge and an oven. I don't like to provide W/D but I have one time to fill a tough vacancy during holiday season.

Also, record or take pics of all serial numbers and list them in the lease agreement to prove ownership if they try to remove them upon leaving. Recently had that happen, called the police, and the the police wanted something that said I owned the appliances. I had old receipts but the serial numbers were not on the receipts. Now pics and signed agreements similar to RE purchase agreements... who owns what and what stays in unit upon end of lease.