All Forum Posts by: Solomon Morris

@Ernest N Belser this is not always the case but most established contractors are not going to come give you estimates on properties you are not at least under contract on.  Good luck

@Lane Kawaoka Blanket statement many such as myself would disagree with but to each their own

10 units under management.  Sounds like you are already waist deep!

@Clyde Wellman Welcome man.  I'm house hacking in capitol heights myself. There is a meet up in DC tonight if you are looking to network in person.  @Russell Brazil 's DC REI rockstars meet up. check the events page

@Pablo Simmonds many will turn down business in bad areas. Where is the property located?

@Adnan Dizdarevic stick to your numbers. @Mike Dymski is right. It might take numerous offers to win a deal if you are strictly working off the MLS. We are experiencing the same thing here in DC/Baltimore area. Some are simply willing to overpay for properties.

@Web A. I recently closed on a duplex with both sides occupied.  Check your local laws or ask a local reputable property manager operating in your area.  Here in MD (from my understanding) we are able to approach existing tenants with the idea of signing a new lease but they have no obligation to do so during a sale/transfer of a property as long as they are in good standing.  

I wouldn't change a thing!

I canceled date night 5FEB because the last one was THAT good. She totally understands.....

I think you should post more details on your personal position. Are you looking to live in denver? Is there outside help you could receive (i.e. help from family or partner with a buddy)? Nice work saving 11k but I would be hesitant to empty my cash position entirely via FHA financing to get into a property. If I were you... I'd strongly consider renting

When I lived in hawaii for a few years, I rented a room with some buddies which allowed me to continue to build my cash position before buying my first property upon relocating to the DC area. Despite zero equity, I put away a great amount of cash by living a modest lifestyle in one of the most expensive markets in the US. 

Build your personal position and continue to accumulate cash.  Study your intended market so you can learn to recognize real deals as they come around.  When you are in a stronger position (both mentally and monetarily), you'll be less hesitant to take action as opportunity presents itself. Personally, the peace of mind of renting, saving and self educating more appeals to me more than forcing myself into a deal with my ENTIRE savings leaving me zero in the bank to obtain a property. 

I think you should read scott trench's book "Set for Life"