All Forum Posts by: Frankie Woods

Wow, great advice.  @Brie Schmidt is my favorite. Being in the military, you can't go wrong with a VA loan. Essentially, zero down...though having to wait may hurt a bit...

@William Ellis , your cash flow will almost always be higher with lower price points.  As your purchase price rises, it's harder and harder to find deals that meet the "2%" rule.  However, you may be better positioned for appreciation, but most BP members stress on not buying (e.g., speculate) on appreciation.  I tend to do a mix bag and have liked the results so far.  

Welcome to BP @George Frick !  Glad to you stumbled across this amazing resource!

Welcome @Account Closed !  It's kind of funny that a realtor is telling you that holding on to rental property is a bad idea.  Read: "I won't get a commission!" 

It's good to see that you are having success early on in your business!  I wish you the best of luck and look forward to hearing more from you as you grow!

@John Moore 

Have you had many situations where you needed "backup" buyers/sellers?  I always feel like it would be "sneaky" to leave others waiting just in case a deal falls through.

Great lesson @Daniel DiGiacomo ! I think this rule probably trumps my own.  If you don't fall in love with any aspect of a deal, there is little chance of you allowing emotion to interfer with the logic of getting a good deal (e.g., letting the numbers do the talking).  Thank you for your comment!

I would suggest painting the wall, changing the blinds, and replacing all carpet with wood/laminate.  The last option may be pricey, but the long-term benefits generally out-weigh the short-term costs.

Welcome to BP @Ellie Verdura  !  Glad to have you!

You start typing @Frankie  ...  and the name will appear below the "post a reply" box.  Opposite the "post reply" button to the left

@DJ Cummins  's post  http://www.biggerpockets.com/renewsblog/2014/09/02....  Excellent read and solid advice on LLCs.  BTW, I agree with what he says, and it corresponds with a lot of what has already been mentioned on this thread.