All Forum Posts by: Ryan Denman

@Patrick Ng Great news!  Best of luck with all of your landlording adventures!

@Peter Stur

I have used Pentagon Federal Credit Union for up to 80% LTV on rental properties. My property was in Oregon. They are a national bank, so most states should be available.

For Texas or Colorado, check out Security Service Federal Credit Union. I have not done rental properties with them, but have done 100% LTV on primary residences through them.

Good Luck!

@Kevin S.

Hey Kevin,

Two strategies for tax liens in real estate are to earn a return on the tax debt or foreclose on properties. Which are you going after?

If the company is selling you the lien cert, then they would not have foreclosed and your are essentially buying a note.

It would probably be good to do some due diligence on the properties which generated the liens to find out:

-Is it likely the lien will get paid off by property owner or first lien holder?

-What return are you expecting on your investment?

-What are the conditions of the properties? (If no one is paying taxes on a property because it burned down, the lack of a structure, or a severely damaged one, would have a big effect on how much one would pay for a note on that property.)

-If you want to foreclose, what is the timeline for when that can happen?

I went to a good meet up in Boulder by Dan Murray a while back. Dan does lots of investing in tax liens in AZ and FL. I'll see if I can dig up his contact info and maybe you could consult with him before making a purchase.

Ryan

@George Kamerzan

Hey George,

Diving in head first, nice! I would go for Set for Life by Scott Trench. It is good for developing a mindset and does not get too bogged down with details that you may not need yet. The Book on Rental Property Investing would be my next, as it surveys the whole landscape of real estate.

After that? Pick a niche you are interested in and dive deep into specifics there.

Happy reading,

Ryan

@Lance Marshall

Hey Lance,

Maybe 332?

Ryan

@Nathan Coldsmith

Hi Nathan,

Sounds like you've got a double edged sword here, by which I mean two edges cutting in the good direction! I have dabbled in an MLM before and it did not work for me at the time, so great job there. I think I was not good enough at talking to people (a bit introverted). To me, success in real estate and success in an MLM would come largely from growing your network. So many people get started because they find a mentor, or a private money lender, or other team members simply because they talk about what they are doing in real estate to everyone around them. I would not approach it as trying to sell your MLM folks on investing in real estate or vise versa, but talk about what you are doing and let anything that flows out of that come naturally. Contractors, real estate agents, and many others are all out there to help you get stuff done, and you can share your success in MLM with them.

Good luck!

Ryan

@Patrick Ng

Hi Patrick,

I list my rentals on Cozy (where I also do background and credit checks, and collect rent), Zillow and Craigslist. I have not had any issues with posting on all those sites. You could also try Facebook Marketplace.

Ryan

@Alyxandria Welch

Listen to all the BP podcasts and check out/request their books from the library, that is how I got started. Then I bought a property with an ADU and started renting that out and doing the PM myself. It was a slow process, but now I am much better at all aspects of real estate.

Keep learning, analyze deals, and most of all take action and buy a property! Even if it is not the best deal, you need to get hands on to accelerate your learning.

@Michael Temple

Unless required by law, or providing washer/dryer are standard in your market, don't do it. It is one more thing to maintain, unless providing them gives your rental a competitive edge in the market. I would say the same for dishwashers, a very easily abused appliance that can cause headaches.

@Michael Sepe

Fees do depend on the area, but also he PM company. Generally, you get what you pay for. I had a flat rate $85 per month company and they did squat except collect the rent and yearly inspections. I changed to a 10% per month company and they were much more involved with the management of the property.

Check out Steve Rozenberg on BP Podcast episode 343 for some ideas about how how a property manager should operate and questions you can ask a PM company when shopping around for the best for your needs.