All Forum Posts by: Jason Woodard

Frank, we have our one rental fir about two years now. Looking to expand.

Ryan and Adam, thank you for the additional recommendation. I am sure I will end up reading that book as well! Matter of fact, I think I will be sure to buy it this week.

Just a quick plug, as I feel like I'm a bit late to the show on this one. Currently I am reading Rich Dad Poor Dad. I have spent my three day weekend, squeezing this book in at every moment of free time. To ANYONE on this blog who has yet to read this book...Do it! One of the best time investments made yet!

Just looking for feedback from anyone who would like to share. As my wife and I research and shop for our second real-estate investment, I find myself overwhelmed with questions in regards of what assumptions to use. We have one single family investment, and we seek to purchase a multifamily duplex investment. In general, my analysis seeks a minimum 5 percent cap rate, utilizing 10 percent for vacancy losses, and 8 percent for each management, repairs, and capital expenditures. Anyone have any input? When to adjust these numbers up/down? Just looking for a little help.

Honestly, I think there is not much I can say beyond what others have said beyond this post. That being said, one thing that I PERSONALLY identify is that I sometimes, like you, will try to be the over accommodating landlord. In the right situation, that is the professional thing to do. In THIS scenario, that very same philosophy will cause you to potentially be taken advantage of. Summary advice, visit her when parents ARE NOT PRESENT. This removes unneeded politics from the situation. Second, press the lease on her! You enforce it to the max! It sounds like she made the big mistake of not doing her due diligence and record keeping. Don't make the same sloppy mistakes she did.

I am excited to officially be a part of the Bigger Pockets community! I have listened to the podcast for a while now, and I hope to learn, as well as teach others in the real-estate investment world!

As a Commercial Lender, I hope to be a resource to others!