All Forum Posts by: Account Closed

@Stephan Richard

I invest in an area were property prices stable but they don't go up very fast. As a buy and hold investor, my focus is on the monthly income and not so much on short term appreciation. Over the long term (10+ years) I'm likely to get some appreciation on my property but not in less than that.

A benefit of areas where there is faster appreciation is that you may be able to build equity in the property over time and be able to take that equity out to put into a second property and a third and so on. Whether that is a strategy that your heart and head can be comfortable with is a question only you can answer.

Way to go @Donald Patterson!

Yay! Welcome to Bigger Pockets!

There is no get rich quick scheme in real estate investing. You could try and find a better deal where you earn more per door. Sure, long term the property may see appreciation and that may make you money when you sell. But buy and hold investing is about the long, hard slog.

Type @ and the first few letters of the person's name and their name should show up at the bottom left of the text box that you are typing in. Click on their name and it will come up blue.

@Phil C.

OK, so I just learned from this. I'm from New York and the signing of the contract with the seller was handled by lawyers (mine and the seller's) and everything after that. The closing table gets pretty crowded in New York.

@Sal DeJulio

Typically the realtor will get you to the point of making or accepting an offer. When it comes to signing the actual contract and everything thereafter right up until closing, you use a lawyer. I'd be interested to know if it was possible to do it without a lawyer. But even if it were possible though, having a lawyer is not a bad thing. The other side is likely going to have a lawyer and you need to protect yourself.

@Scott Bustos

I'm just not sure that's what you're asking though. Could you clarify?

If you mean you are thinking of buying an investment property that has existing tenants in it, you could always ask the seller for detailed statements of income and expenses. For income, you would want to ask for proof of deposit for at least a year showing when rent was paid. You'd be interested in seeing if the tenant ever pays late, makes partial payments, etc.

Regarding expenses, you want to get 1 year or more of municipal bills (tax, water, sewage, whatever is normal in your area), and also 1 (but try for at least 2) years of information on maintenance and repairs done and costs.

I have some/limited experience now but I've wondered the same thing. I have a very collaborative style and see no problem with just asking someone if I can tag along and learn. But I don't see people doing that as much at the meetups that I go to. Hopefully some of the more experienced types will chime and let us know what the right way to approach them is.

From Carlton Sheet's website:

"Today, on his own or with partners, Carleton has bought and sold more than $50 million worth of commercial and residential income-producing real estate. And although he is semi-retired, he divides his time between investing and writing, and still continues to educate consumers so they can benefit from his knowledge and start on their own path toward financial independence"