All Forum Posts by: Tracy Ross

Try talking to a title company. If you know the title officer who closed your deal I would call them. You may be able to quit claim the title into your LLC and keep the mortgage in your name. Calling an accountant would be a great avenue as well!

 Don't let anyone try to get you down on here. It's a great start and though not a lot will admit it we all started somewhere. It's hard to find legitimate cash flowing properties right now with affordability low and rates being high. I think it's amazing and a great start to a large portfolio and financial freedom!! Cheers!!

Hi Jennifer,

Reiterating what the other agents have said, this is all part of the job. My one word of caution is try to find the RIGHT realtor for what you're looking for. My team- Boise TurnKey Properties- works mainly with investors here in the Boise, ID area. We get a lot of wholesale and off market deals because of this, and we understand what investors are looking for. My advice is to interview multiple agents in that area and find the one that's going to help you reach your goals. Because once you sign a buyers representation agreement with that realtor you're locked into it until it expires or their broker releases you. 

Maybe get on an REI Facebook group for the cities you're looking in and ask if the investors in that group have any suggestions on agents they like?

Best of Luck!

This is a great thread!

My goal for 2023 is to focus on my real estate business more than 2022. 2020 and 2021 were insane and I vowed to spend more time in 2022 with my husband and traveling. We did that but I have seen my business decline. The goal for next year is to focus on business and pick up at least one more door for LTR or STR. I would also like to refinance an STR to either increase cash flow or potentially cash out to buy another property.

Trust your gut!

I have a bachelors degree in Human Physiology and worked in hospital systems for 12 years. I was never happy and fulfilled but I always saw real estate as a "pipe dream". In 2019 I decided to stop being unhappy and follow that dream and I will never look back. It's been the best decision I ever made. 

I don't think a college degree is necessary to "make it" in this world if you have drive and gumption! If I could go back to my younger self I would say follow your heart and do real estate. Although I probably would have gotten an education on something that can help me on that journey. Marketing, Finance, Economics, or Business. I think always educating yourself about what drives you is important and helpful in your endeavors. And realize with real estate you will be constantly learning and shifting into new areas! 

Best of luck to you! 

That's Incredible! Way to go!

 Hi Roger,

I really think this is PM dependent. Our PM is on site at our condo-hotel and they are very involved in keeping the property held at a meticulous standard. There are a lot of small maintenance items (like a door jam, toilet clog, blind malfunctioning, fireplace pilot light out) that I don't have the resources to cover at the moment they occur. They are minimal in cost for me because our PM has onsite maintenance and it would end up costing me a lot more in time and labor to hire a handyman for every small inconvenience. And that's if I can find one in the small town of Lincoln City to come out and do the work. 

I guess it's a cost benefit analysis. My tenants are always happy that things are taken care of quickly and it makes them want to continue returning. All properties are going to have maintenance issues. I would say determine what you want to spend your time on. If you're looking to scale in this world you will pay people to get your time back for more worthy pursuits. 

I just did a second home as an investment AirBnB. You can check it out on my profile. I was running number on it forever and getting stuck in analysis paralysis when I just decided to close my eyes and jump. 

Per my numbers I figured it would break even every month but would be a great long term investment and also something I could enjoy when I wanted to go to the coast. That property is cash flowing anywhere between $500-$2000/month! And that is after I pay property management 22%. PM is worth every penny to me though as they take care of every detail and I just cash checks. 

I'm sure the market in Oregon is different from that in the Carolina's but I have thoroughly enjoyed watching this property get full bookings and grow in popularity. I hope you go for it!

Hi Alda,

I recently did the same thing. I had previous buy and holds and just changed my investing strategy to an STR. What helped me get motivated was a local Real Estate InvestHER meet up. It's a women's only investment meet-up. It's incredibly supportive and empowering. You could see if you have one in your area, and if you don't- you should start one! Check out the podcast and webpage.

https://www.therealestateinves...

Hope this helps!