All Forum Posts by: Blake Preece

How do you usually come up with rent price? I figure look at properties in similar area then add up cost per square foot etc. Do you have the tennants pay all utilities? I figure I'll set back three months vacancy to be safe when planning. How do you estimate taxes and insurance per year? Thanks!

I used to live in Louisville and Lexington KY. Both were growing areas. I took a really good job but had to move to Eastern KY which is one of the most povern stricken areas in the US.
Any ideas on how to crack into wholesaling when you live in an area with very few investors and a lower number of home buyers?

Looking back this is pretty funny. I typed from my phone and it changed a couple of words such as thunk and multiple lol. Looking forward to learning from those of you with experience.

I'm looking at buying my 1sr rental property. I thunk I can get it in the low 50's. There is an older gentleman that is a multiple millionare here in town that I'm going to try to get my loan through. I'm hoping to get around 62,000 from him. That would give me a little nest egg if something goes wrong or if the place doesn't rent for a bit.
How do I legally go about asking for the extra money or is it ok to get more than what I'll be paying for the house?

I live in KY. I'm in pharmaceutical sales but have a desire to get into the real estate investment business. The area I'm in is probably one of the most povern stricken areas in the US. I feel like there's a lot of money to be made here because there are tons of renters.
Starting off I want to work around here but the idea of buying and holding with the shape our economy is in is intriguing to me. I can definatly see where you could have problems if you don't have good property managment. Seems like giving them a percent off net income might be the way to go if they will do that.

Are there any of you out there that rent properties in other states? I am interested to learn from others that might target some of the growing areas in the US such as the traingle in NC, Birmingham Al, Dallas TX, Pho Arz etc. I'm curious if any of you go out of state to growing areas to buy rental property then pay for somebody to manage the property. If so I'd love to here lessons learned good and bad. 1st post and I look forward to learning from you all.