All Forum Posts by: Sarah Brown

Refi is expensive.  Do you need the cash to be able to do the rehab?   I am wondering if there is a way you can do it once and accomplish all the goals?  Does it still cash flow well if you do a full cash out? 

Call  CPA.  Rent received should be taxes the same regardless of income/loss. 

I encourage you to reach out to a real estate agent in your area to partner with.  Not all markets are the same.  The market I am in is crazy with no sign of a let up. 

I use TransUnion through my PM software.  Before that I have used Rentprep and they did a pretty great job.  Not the cheapest though.  You will still need to call references and verify employment.  

Actually I would call this a sizable problem :)  Writing checks is time consuming.  I only cut checks once a week to help save on time.  I use QB desktop version, and I cut them in order of entity.  I know it' a pain to have multiple company checks, but it's the easiest way I have found to keep things straight.  I also like all my numbers to sequence in a company.  If they don't it indicates a problem, which I may or may not know about until much further down the road.  

It is usually cheaper to do the repairs yourself.  There is a premium to be paid when you let someone else do them.  It's not for free.  There are benefits and drawbacks to each, and it will depend on your individual situation which is better.

Your best bet is to have him carry and do a wrap.  That being said, I would never pay more for a house than what it is worth. 

HATE the online/virtual thing.  There is so much more to being in person than just listening to the speakers.

I agree with @Marcus Auerbach.  Jump in!  The best learning is on the job.  Find a good agent you can trust that also understands investing and move forward.  There is a lot to learn that isn't in a book or podcast.

Make sure if you are using "guesstimates" when the contractor isn't there that you allocate some funds to "surprise repairs."  There are always surprises in rehabs and they can make or break your deal.