Deep breath...one day at a time!

The closing is so far out because I'm running my reserves so close and wanted just a little breathing room.

But I took a few deep breaths and hit send. 

It is all hot breath.

This states the home has been approved and available to be a rental.And some of these must be applied for every time a tenant moves.So check your state laws.There are Landlord Tenant Laws, Building Codes, and laws that are not laws at all but based on a Judge’s opinion of whether or not a tenant did wrong or not.For instance, normal wear and tear.Judges have various opinions on what they deem normal wear and tear.This is an Industry of thinking skills.This is an industry of holding your temper and implementing your lease agreement no matter what.You need to think like a Judge.You need to think reasonably.You need to be a good listener.You need to be in control.Once you buy a house you need to know how to keep that house and how to keep your tenants long term.You need to know how to be all things in order to keep your tenants happy, yet make them know the rules of landlording and how to be good tenants.I always say that one is only as good as the tools they have.You could be the greatest landlord in the world in mind and action, but if you don’t have the equipment, or the education, or the money to invest in the proper tools to make you successful, then you will never make it in this business.It takes my breath away to read the stuff on here by new investors.And I understand that how can they know what they do not know?

I'm of the opinion that this time is a little different, regarding home loans have been much tougher to obtain and there are not nearly the subprime mortgages as we had before. we will probably see a more traditional recession, slight slowing of economy the next downturn.The fact that so many subprime loans brought down the economy, give money to anyone who breathes, is NOT being repeated bodes well.But markets where the house prices are just so high compared to the wages.. there will be some downward correction.Always look at the median income to house price ratio.. some areas are extreme and are ridiculous.. bottom line, some areas are in a bubble, some are not, emerging tech hubs will be most insulated, such as Raleigh Durham, NC, Austin, Denver, Dallas, Portland, Charlotte, Charleston, SC, Nashville, Salt Lake City. 

Finding this site and the information it provides has been a breath of fresh air from a lot of the other real estate investing sites I've encountered.I've been a full time dj/music producer for many years now but the music industry is so fickle and constantly changing that I started to realize I needed something a little more dependable and long term which is where REI comes into the picture.  

I am looking at house hacking, to give my wife and I some breathing room and I can focus more time into my big goal of apartment complex investing.

You're on a tight budget, 20K if you're doing a 5% down could probably net you something in the 300K range with a little bit of room to breathe.

But it is more stress since I am on the hook for the rent, utils, operating costs each month and I don't always breathe easy until I see enough bookings for that month to put me in the black.