All Forum Posts by: Justin Taber

We were wondering if anyone has ever used neighborhood association funds to invest in a property then manage it?  We would like to then use the income we could produce for the association to invest in or fund other projects.  

We would not be looking to build a large buy and hold portfolio for the association but we think it would be a good opportunity to buy a run down home in our neighborhood and get it fixed up.  This would help to make our neighborhood more attractive then we could rent/flip it and reinvest our income into other projects the association is working on. 

We have just begun thinking of this and wanted to hear some thoughts from Bigger Pockets.

Has anyone ever done this? Can anyone think of potential problems/liabilities/tax implications that could arise from doing this?

Any insight would be great.

The finished photos look great! Congrats!

We have used the Bigger Pockets tenant screener for our rentals and have been very pleased with it.  Our tenants said it was easy for them to access and they pay for it right on there.

https://biggerpockets.mysmartmove.com/

I agree with Jeffrey, don't feel that you need to take the first applicant.  Make sure you fully screen everyone and once you pick someone as a tenant make sure they understand the lease and what your expectations are.

Good luck!!

Sounds like an exciting time...GOOD LUCK!!

If you are looking to get any sort of loan from a bank, having a salaried position will be very important.  Also if you make more money you will be able to save more to put towards investing!

I understand what Brianna is saying but I think that may be very effective for general searches, especially online.

Hey Alyssa,

I am a new investor myself.  My brother and I just purchased two duplexes in town.  There are a lot of great neighborhoods but it depends what you are looking for.  Personally I would agree with John and LaTonga  that I would not be looking to much in those neighborhoods.

One of our properties is in Merion Village and we like that area a lot.

I'd be happy to chat with you anytime!

Justin

I am just getting ready to close on my first duplex in a few weeks and I am thinking about what I need to talk with my lawyer about to make sure I am including in my lease.  What has been helpful for you/something you have in your lease that you think is unique and has CYA.

Thank you in advance.

Good Luck, I just put an offer in on my first duplex I have the same feeling!