All Forum Posts by: Susan Foreman

This is an interesting thread.  I'm a new investor here in BR.  I manage my own property right now.  I have called several PM groups trying to rent an apartment at LSU for my child.  NO RETURN PHONE CALLS!!!  NOT ONE.  I also called the PM on an apartment complex that is for sale to check on the management and NO return phone call.  I think I'm sticking with managing on my own.

Its on my calendar!  Quite excited!  I loved their podcast and their approach to caring about those they work with.  

I agree the insurance sounds low, definitely need cap ex.  Not thinking its a bad deal but the numbers don't add up.  Education in learning to truly run numbers - be honest with your numbers because you WILL have maintenance issues... make sure you have some reserve from day one to deal with them.  

I have had one tenant start telling me why she would be late.  I just simply restated our rent policy to her and assured her that we would not deviate.  The rent was on time. 

Just get it rented and leave it be.  It would probably cost more to you to fight it than just eat the loss?  Im not in NC so my thoughts are worth exactly what they cost you but its my 2 cents.   Keep the deposit.  Hopefully she left the place in good shape.  

My first property is a 4 plex and we are happy with it.  My advice would be if all you have is the heloc you should probably wait.  You need to have cash available for emergencies -  I would say $10K in cash.  The price seems very low which must mean there are issues???    Just my opinion but proceed with caution. 

Thank you, @Chad Mayo.   I live right in your area!  Drive down GS every day. 

I'm in Baton Rouge and would love to hear who is giving you 80% LTV cash out? I've been looking for anything lower than 25%.

We signed the papers on Friday!  Officially REIs now.  So excited and hoping for more purchases this year.  

@JeremyStroud 

Thank you, Jeremy.  I didn't know about this.