All Forum Posts by: Tom Chen

@Dave Charron, I'm not sure who is hosting, but @Will Chamberlin invited me...

hope that helps

@Ronald Starusnak

I believe the place is Coleman's and it will be at 7.

What if the tenant gets hurt while doing these repairs?

@John Kaftan

I definitely will be...my contractor that I use for my primary residence probably won't travel 4 hours for a job...LOL

Will you be going to the meetup on the 2/2?

Thank you for the info by the way!

Originally posted by @Raymond Chan:

@jacob, let's just say on one floor, there are 2 bedrooms and a living room. Would that legally be 1 or 2 units

That would typically be 1 unit. 

Think of it this way...every separate lease signed is what I consider 1 unit.

From what I could gather...a rentable apartment. So a unit could be 1, 2, or 3 bedrooms... A 2 family house is 2 units. A 3 family house is 3 units. If you take a 1 family and legally separate t into a 2 family, that'll be 2 units.

My wife was originally against the idea of real estate investing. However, the way to overcome the fear is to be prepared. Have a few properties evaluated and make sure the numbers work, then talk to them about it. Be prepared on questions like how you will mitigate bad tenants, asset protection, financing, etc. Being prepared is key IMHO.

@Joshua D., thanks. That tells me I haven't switched my thinking yet. 

great advice!  Thank you all!

Danny F. Thanks very much for the article!