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3 July 2024 | 55 replies
Hi Jessenia,I've been in the game for quite some time and have many battle scars to prove it lolMy best advice would be to always look at a worst case scenario and start from that.By starting with a worst case scenario you will be able to quicker eliminate markets that aren't a good fit.I don't know much about NY but personally, I wouldn't invest in any market that takes 6 months or even worse longer to evict.Worst case scenario for example = Tenant doesn't pay rent and trashes the property.I would want to be able to evict, fix and re-tenant as quickly as possible.Time is money and I want to keep moving forward and not deal with financial and emotional drag.There are many markets nation wide that are landlord friendly.My business is based on Ohio and there is no mercy for non payment of rent.Eviction usually takes 6 weeks max and although I never want to evict, being able to do so quickly minimizes risk of that investment.Thanks
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1 July 2024 | 7 replies
I got "lost in emotion" & bidded it up and up and (thank God) lost.
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1 July 2024 | 29 replies
They have mandated emotional support animals and have questioned landlords denying felons.
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1 July 2024 | 28 replies
So that is always dependent on personal emotion.
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29 June 2024 | 11 replies
If you got the emotional and mental psychology to invest-- you'll be great.Now, financially.
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27 June 2024 | 3 replies
Emotional Purchases: Base your decisions on facts, not just emotions.
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26 June 2024 | 4 replies
On the other hand, BRRRRs will cash flow slightly.I personally think that the farm purchase is more of an emotional decision for me and I am leaning towards not going forward so I can invest in BRRRRs which helps me achieve my goals more quickly.
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25 June 2024 | 14 replies
Reposting my response from that other thread you had here again:Going to say this be great care as it is emotionally difficult to process, speaking from experience.
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25 June 2024 | 2 replies
Here are some key points to consider:Accessibility: Residential properties are often more accessible to individual investors, especially those starting out with smaller capital.Tenant Stability: While turnover can occur, residential leases tend to have shorter terms, offering more flexibility if you want to adjust rents or change tenants.Market Liquidity: Generally, residential properties are easier to buy and sell due to higher demand from individual homebuyers and investors alike.Emotional Appeal: Homes and apartments can have a strong emotional appeal to buyers and renters, which can influence demand and pricing stability.Purchasing: Residential real estate will require a down payment of at least 10% of the purchase price.
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23 June 2024 | 13 replies
Instead of explaining that they haven't planned the work out to that level of detail yet and getting back to you with answers they don't want to admit they can't answer on the spot and respond with frustration because they don't know how to handle the situation and are emotionally immature.