All Forum Posts by: Tracey G.

@Sharlene Burch. I'm 53, a single parent with two in college, and just started RE investing four years ago! My goal is FI no later than 60. I see at as I have less years to invest but a bigger nest egg to get started with. I have an SDIRA with a JV and some private lending going on. And outside my retirement funds, so far one rental but ready to jump into more. I'm very optimistic about reaching my goal. Go for it!

@George Morales Jr.  If you are looking for an attorney/agent/whatever in Newark, feel free to PM me and I can share names of folks I've worked with in buying/maintaining my rental. Also, if you are looking at properties there to rent out, you need to be very aware of the rules around student rentals in the city - number of tenants allowed, distance between student rentals depending on area of they city, etc. Good luck!

Hi George and welcome to BP! I'm a Blue Hen parent. My son is a UD2020 Computer Engineering student. My first investment property is the rental he lives in with a couple friends. With the university looking to grow, I'm bullish on Newark's future prospects. 

@Arta Montero NNN is triple net. Meaning the tenant is responsible (directly or through reimbursement) for taxes, insurance and operating expenses. I work for a REIT where that is all we buy because they require very little management. Leases can also be double net or net, meaning the landlord is covering one or two of the three items.

@John Moorhouse. In 1924, my grandfather's parents made him go out to work after 8th grade. He wasn't allowed to go to high school, even though he wanted to and his four older siblings were allowed. He did ok for himself, but his greatest regret in life was that he didn't have that education. Make the most of the opportunity to go to school.

@Svetlana Ivanova. In 1993, I was a healthy 26 year old who woke up one day to find out I had a liver tumor that required treatment at an out of state, out of network, cancer center. Fortunately it was not cancer and I had fantastic insurance. I leaned early that health insurance is a non negotiable.

@Paul Kennedy  You.should be able to find the Inbox under Notifications and the create a message there.

Currently, I have one rental in DE. My other investments are a JV and some private lending. I plan to do more of all of the above.

@Paul Kennedy Paul, welcome!

There are a few Meetup REI groups in Monmouth County. The CJREI group has a meeting this week if you want to start meeting some locals. I haven't been in a few months but there have definitely been BP'ers at meetings I've been at. The prices here are tough so my investments so far are actually out of state.

@Michael Ryland. I actually have a good story. My parents had friends who about 30 years ago made a terrible summer rental investment. The end result was bankruptcy. It was dinner table conversation for like a year as it dragged on.

When I told my Dad that I was staring to invest in real estate, I thought he would say 'that's a terrible idea!' Instead he said that's a good idea. Your mother [who passed in 2003] would be proud. And BTW, I put an offer on the house next door a couple years ago when it went up for sale. I was shocked!

In general though, I have learned not to talk about it too much. Too many responses of, 'That must be nice but I live paycheck to paycheck.' Like it's a badge of honor.

@Axel Meierhoefer I'm an accountant (private industry, not CPA firm) and I believe that for every LLC you will need a bank account. If you don't and you mix with other funds, you risk piercing the veil, thereby negating the risk management you are trying to achieve by setting them up separately.