All Forum Posts by: Vlad B.

 Real estate is also micro. Some markets are hotter than others and homes are still selling really fast because people want to live there because of great market conditions. KC is one of them. 

@Vlad B. Real estate is local, don't forget.  Prices haven't done diddly in the teeny farm town where I grew up, and I won't buy there as population is in decline.  In the cities where my houses are located, we have a large enough population base, diversity of employment and brick/block houses for longevity of investing. 

I have rules of thumb for the market in which I buy and the kind of property I buy.  Demographics come into play, and jobs are critical, as I want a diversity of employers so the tenants can pay their rents.  If your local area doesn't float your boat, find another market.  Then develop your own avatar tenant and investment type.  Lastly, take action.

To me the most important thing in REI is not the interest rate it is being forced to sell. If an investor gets foreclosed on or can't make it through a dip. That's when people lose their shirts. So always plan your money and arrange for lines of credit when you do not need the money. I have had a heloc for 25 years and have used it as needed.

In the 90's we had the dot com bust, mostly affected Silicon Valley where we lived, and we almost had to sell a property to generate some cash. Most we could have got was 225-240k, and our equity was maybe 50% of that. We almost sold it. But instead we hung on, found some money elsewhere, and later sold that same property in 2015 for 1.2 million. So, learn to underwrite and never be forced to sell!

I buy year in and year out regardless of market conditions. Ia it easier to buy now than 2 years ago because rates are higher? Absolutely. Does that hurt with the rate Im paying? Absolutely. But Ive moved to putting 35% down to compensate. But Id much rather pay list or a little over at 7%, rather than $125k over list at 3%.

Tenants trashed Rental before they Moved out this past July 1.  What should I detail in filing Claim w/ their Renters Insurance company?  They trashed the floors (carpet & LVP), damaged the washing machine & dishwasher ; trashed the deck stairs risers; poop in yard; trashed one bathroom vanity, left tons of their clothes, fridge & pantry closets full of food, didn't maintain the yard, deck stair risers were damaged.  The lease already stated that $900 would be deducted for deep cleaning carpet (this is what last cleaning cost when previous tenants moved out & we needed to get out pet smell & stains) but these carpets are trashed & need to be replaced. In the 20 months they rented, they never washed the carpet with their dog & cat stains.  Several people helped clean out which took nearly 20+ hours with 3 -5 people.  I'm getting quotes on repair damages that will likely exceed their remaining security deposit.  What will help me in my claim to their renters insurance? Tons of videos & pictures were taken.   I am assuming that landlord insurance won't kick in. Please advise.   

 Thank you for the reply Vlad, I appreciate the tips in your experience what is the best way to find a mentor in this space? Yes there are many ways indeed, in your expertise which one have you seen the most success with and why?

Respectfully Submitted,

Irvin Morales

Hi everyone, I would really love to get some insights on what it is like to be an investor renting out to Section 8 tenants. I feel like this is a great way to start in real estate as a new investor considering a few factors. I would be looking into properties in the midwest and southeast states, under 100k, 3 bed, younger than 1955 and no more than 1,200 sqft, and turn key for the most part. Looking to put in 5k in rehab IF needed. I live in California so this of course would be me managing the property remotely to start (unless I can find a great property manager.) I am aware that I would need to be extra vigilant in screening tenants so they don't trash the place. 

I wanted to know if anyone has any experience renting to Section 8 tenants and if you would be so kind as to share any insights/tips. 

Thanks, Nathan

I hope everyone is having a blessed day, I currently work a job in logistics and after everything I am able to have roughly 3000 in free cash flow (I am fairly frugal). What would be the best way to use that to make minimum 10k a month starting out. I’m not in it for the money but I do understand that goals are important. Those who enjoy to walk will walk farther than those who focus on the destination. I enjoy to walk, and am not afraid of hard work. I am willing to put in the 10,000 hrs required to master a skill. My goal in life is to provide an insane amount of value to those around me. Nothing is going to stop me.