All Forum Posts by: Tim Puffer

How did you get to your $100 cash flow? I'd like to see your thought process. 

Also, definitely get insurance on it. With it going to sit vacant for a short time and you doing renovations to it you definitely want to have some coverage on the place. Murphy (Murphy's Law) can show up at any time!

@DeShon Cromartie

Definitely listen to the podcasts. Tons of good info. Also, find a local REIA and talk to people who are doing it locally and learn from them. I'd suggest finding someone doing what you want to do and take them to lunch!

@Joel Florek

Awesome man! Way to jump in. When did you decide that you wanted to get into RE?

Dru - what area is this in? And why does one of the 2/1 units rent for $800 and the other $550??

@Nick Cassidy

Welcome Nick!

Read the Ultimate Beginners Guide. It gives you a great overview of REI. Also, listen to the BP podcasts. @Joshua Dorkin and @Brandon Turner do an awesome job of putting them together and making sure they are full of great content

@Brandon Johnson

That's what I would have suggested as well. What company did he put you with?

@Jessica Lentine

Hi Jessica! I actually just got my RE license about two months ago. It gives you good information and the basics of RE. I have found since then however that I've learned more of the actual investing side being on BP, listening to podcasts, and asking questions.

Also, try to find a local investor who would be willing to talk to you. I just recently met with one and it was a great experience. Take them to lunch or dinner for their time and start a relationship. 

@Stephen Hundley

We're you responsible to pay the back taxes the prior owner owed? 

Brandon Johnson If Foremost won't take it you will likely need to go to the Excess and Surplus lines market; which has companies that will insure high risk. Your agent should know how to access these companies.

@Andrew Michael

Not too bad! Are you taking 8% for Cap Ex, vacancy, maintenance each separately, or 8% overall for all three?