All Forum Posts by: Terry Hershberger

Marcin, 

It depends on the increase and what you were paying him. That is a very vague question. I believe if you build a great relationship with your contractor, he will treat you fairly. You must remember, people do like raises as much as you do. Every year, things go up. Like insurance, food, gas,....I am sure you get the point. So if his wages don't increase some, he will starve. Now if he is price gouging you, by all means, your relationship means nothing to him and I would replace him. But again, I believe building a greta relationship is critical for both of you being fair with each other. It helps if you have a lot of properties and he gets all the work. that usually helps keep them honest as misty don't want to loose all that work. Whatever you decide, i hope it works out for ya! Happy Investing!

Jason,

If I were you, I would study everything on BP before wasting any money on any seminar. There is more than enough information and people that will help you on BP to get you started in RE. After you do one deal successfully, just repeat it many times. Also, it would be a good idea to find someone in your local market to help you, maybe you can find some local rein's to attend. Definitely no need to spend thousands of dollars to learn the RE business. Education is important, some just charge way too much for it. You would be better off spending the $25k on your first few rental properties. One most important things you have to ask yourself when it comes to those that charge for training, are they actively doing the business and whose best interest do they have in mind when charging you?, theirs or yours? Whatever you decide, I hope it works out for you! Happy Investing!

Welcome to BP Juliana! You will find a mountain of education on this site. This site is the premiere site for REI, from the Forums to Resources to Podcasts!

What attracted you to wanting a rv park? By the way, I  own a rv park. If I can help in any way, let me know.

Happy Investing!

1. About 60 days.

2. Part Time

3. MLS

4. 2 miles form my home.

5. About 9 years, 24 Properties. Holding 23.

6. Part Time.

She could easily be an independent contractor for her duties. Just look up the independent contractor guidelines and don't cross them. It's easily accomplished.

Secondly, is that a good deal for you in your area for her duties? If so, I wouldn't rock the boat initially. I was taught very young, " if it is not broke, don't try to fix it." If you don't like the situation, you can always change it later.

I would not be afraid of her doing lockouts either. Remember, her dad owned the building and if she is good people which I am assuming she is since her dad owned the building, she would probably continue doing the same job for you without any issues. She probably also has pride in the building since her dad owned it before.

Whatever you decide, I hope it works out for ya! Happy investing!

No.  Bankruptcy  5 years ago, unemployed, and sizable savings? Hmmm, wonder if the sizable savings came from not paying a mortgage, living there for free and saving the money to get a sizable savings? And unemployed? Very risky. If this is a good rental, you should definitely be able to find a better tenant! Why settle for such a risky tenant. As with all investments, if you manage risk well, you will definitely end up making more. So again, I would never rent to someone unemployed, just too much risk to make sense for me. From all my mentors, they have said if someone comes waiving cash and offering many months of rent up front, they are desperate! RUN is the word they used. Whatever you decide, I hope it works out for ya! Happy Investing.

First, you must learn as much as you can about the market you plan to invest in. Home values, different communities, school districts, average rents, are just a few things you will need to learn. Educate yourself! You work hard for your money and the last thing you want to do is make a bad investment that could have been avoided with some simple education. So educating yourself is very important to do first. 

I buy my rental properties based on cash flow, cash on cash return, condition of home, age, and location, location, location, are all important. You can use the BP Calculators if you don't have a financial calculator of your own to figure out what your cast flow and cash on cash return will be. Everyone has to decide what kind of return they are happy with. Personally, I prefer 25% or more cash on cash return. Sometimes you get lucky and will hit a grand slam, but base hits will get you there! 

Also, as far as the type of home that seems to be what I call "the bread and butter" properties, I prefer 3BR 2BA 2CAR Garage in "B" or "C+"  areas with a good location in that community. However, we own 2BR-4BR, 1BA-2BA, No garage to 3CAR Garage. 

Ashley, I hope this helps! Happy Investing!

You should be able to do both, make offer and agree to a land contract deal.

Paul, I have gone through this situation before and the Bureau of Motor Vehicles in Ohio is where you need to go.

Go to Ohio DMV and explain what has happened in regards to the trailer and they will explain the procedure for Ohio.