All Forum Posts by: Theodore Arzt

I don’t remember the specifics, but it was only one company that was having issues and there was a timeframe associated with it. If you can find out when it was built you may be able to rule out any issues.

It took me a little bit to figure it out but I can talk you through it 

I use the RECalc app. It's good for getting used to calculating the PITI.

@Mack Bailey I have heard that many times on the Podcasts. You have to remember that when  these guys talk about their time being a very valuable that they have many projects going on. I just finished my first project. I scraped enough to get it started and had to get it finished with a minimal amount of money spent. I don’t have anything bringing in cash flow but I do have time. I went as far as making my  own molding  with a table saw and router bit because the stuff at Home Depot it was too expensive. Down the road when I have cash flow coming in I would certainly consider doing some things differently like having someone else paint and stuff like that.  But I had to have the humility to understand that at this point in the game my time is not all that valuable. Maybe someday

 I started with an agent that was recommended off of the forums here. It did not work out at all and I had to fire her. It seemed like my cheap multi family houses were not worth her time.  Also, she wanted me to make a list of properties to view and I only had one at a time that the numbers worked on. What I ended up doing is finding an Agent in the town that I was looking to buy in. The reason this worked out well  because if I only had one property to see didn’t take her much time to get there and open up the door for me 

My agent just asked me for parameters and what I wanted to see. Location price multi family stuff like that. Then set me up on the MLS. I did my own work and looked up deals that I thought I wanted to see. You'll start getting emails anytime anything new comes on or price drops. Even if there's nothing you like you can analyze the deals that come in and get good at it. It doesn't take any work for the Agent and less you actually want to go see something

I’m relatively new but own a multi family in Bristol. Feel free to message me or send a colleague request. 

 I just rented out my first multi family. One thing I would like to mention is that I spent way too much time listening to BiggerPockets.  Let me clarify.   It’s been very helpful and I learned everything I know from it, but I got this idea that I would find a great tenant in a reasonable amount of time. In reality nine out of 10 people no call no show. The people who liked my property the most and would pay whatever I’ve asked had criminal records and 500 or lower credit scores. I started Thinking that I would never find anybody qualified. I did have to lower my standards a little to fit my neighborhood. But I only needed two qualified tenets.   This may take longer than you want but  you want to do it right. 

I’m confused. I’ve been under the assumption that the property manager works for you?   I have no tolerance for an insubordinate employee. 

 Make sure you read it carefully. I’m very new to this so take this with a grain of salt. As I’ve been doing the screening  I see a lot of evictions filed on the credit report and then I see another  file for restitution of premises.  It seems like the general practice start filing as soon as they’re late but that will show up on the report as an eviction. I don’t think I would hold that against them if they made it right  and are  still living there. But if they were actually evicted then I really don’t want to deal with it