All Forum Posts by: Tomer Shani

Education is super important. No doubt. However, I've seen some people who are not investing due to a giant student loan they took so if you can avoid major debt while getting your degree, I would recommend that. The other thing (which is the thing I think more important), I do believe you'll be getting your RE "education" upon your first deal/flip. For financial literacy (which is vital) you can acquire the knowledge in many other ways (books, seminars, YouTube etc). But nothing will teach you as much as actually going out and doing a deal. (In my opinion)

I'm new at this, but one of my rules of thumb is that appreciation is NEVER more important than cash flow. Positive Cashflow has to be the order of the day. Appreciation, tax advantage and loan pay down are important, but if I had all 3 without a positive Cashflow, I'll never go into that deal. Might as well buy a huge house to live in. If I had millions in liquid (which will convey an outstanding staying powers) sure. I'll speculate. Cashflow makes a purchase an investment. Remember Kiyosaki: Assets pus money in my pocket every month. V

Thank you so much Sue K. ! Great input. It's clear to me now that I'll have to pay for the fridge. I'll just look at it as a cost of education. I'll document the condition of the apartment a little bit better for the next tenant and a check list of what to be expected at the end of the lease.

I can definitely point to gross negligence. It wasn't plugged in when I got there and it was full of bugs and crap like that. Took a looong time to clean it. The smell is still lingering. Does that count?

Hello BP people! I have a newbie question: My tenant moved out and I've found the brand new fridge I bought unplugged. When I plugged it I discovered it's not working. Can I just buy a new one and deduct it from their deposit? Or do I need a third party to look at it? What are the proper process to deduct without having to worry about lawsuits

Thanks for the input @AndrewJakson Sounds like one has to choose btw taxes or interest.

Not sure how you concluded t to be a negative cash flow. Don't you see any value and the peace of mind of having at least one asset paid off?

Thanks! That does help. My first tenant just moved out and I was wondering how much can I pull out and how much to leave in the account. I wanna pay off my first deal before taking on multiple mortgages.

Hi Cain I'm from NYC but invest in Philly. I bought 2 SFH over there and I think I've learned some valuable lessons. Bought them for about 130k each and the income is 1,600+1,250. (One is lower cause I didn't know how to market it. It will go up once I turn the house over) I invest around Temple U where there's a great cash flow potential but a high turnover. It's a good place to start in my opinion if you want to get to know the rules and regulation Philly has on real estate investors/owners. However, I would recommend to check out some of the multi units north west of Upenn. I hear the prices are great over there. My account has a client who bought a four plea for 110k (needs some work, but still..) Anyways, if you have any questions let me know.

Hello everybody! My very first BiggerPockets question: I know that the method that goes around here is to save anywhere between 5-10 percent for vacancy each month. I was wondering, if I managed to save 6 months in operational funds should I still be allocating money for vacancy? In other words, how much money aside is enough for vacancy? #askBP Would love to hear your thoughts!