Christina Colon
Rehab using credit cards
Recently I completed an entire rehab on our long term rental and converted into a short term rental. I'm 2 months into running my short term rental and we have been breaking even (thankfully). The dilemma:We used some...
Yongming Huang
Why are real estate agent commissions so high in the US?
I have watched several discussions, including David Greene's video, around the recent lawsuit against NAR and RE brokerages. Learned a lot but there is one thing I just don't understand. If we look at the numbers, the...
Zachary Jensen
Wife doesn't want to increase rents
I'm just about to close on my first rental property (house-hacking a duplex in a small town outside of San Diego, CA). The previous Landlord raised rents 3-5% every year on this property, so it is currently rented fo...
Andrey Y.
How you can profit from a Big Mortgage
In light of all the recent threads about COVID-19, worrying about tenants not being able to pay rent, legislation that seems to screw over landlords month after month, and ethical dilemmas about where it is our obliga...
Melanie Hartmann
Quit My Job and Plan to Wholesale
Hi All! I had to share. Against all conventional advice and wisdom, I've just quit my job. My fiance's job brings enough for us to cover are needed expenses and I have about a year's worth of savings built up on top o...
Matthew Mucker
Where does the 50% rule come from?
I know the "50% rule" is bandied about as gospel here in the forums, but haven't seen any actual, hard data that says that operating expenses tend to be ~50% of gross rent income. I'd like to verify this number is, in...
Niki Cunningham
Yellow Letter Frustration
I've learned a very expensive lesson: to get my list myself! I placed my first yellow letter campaign with 500 letters, sending out 100 per week. What I thought I was getting was an absentee owner's list for my county...
Brian W.
I'm going to my first local REI meeting. What should I say or not say?
I'm going to my first local REI meeting in a couple of weeks. I have not idea what to look for in terms of whether or not this is a good group or if I can gain anything from it.
Is there anything I should keep my ey...
Sylvia B.
Hello, I'm a slumlord
We had a conversation with a guy today and it went something like this:"Hey I saw you hauling some lumber the other day. Whatcha building?""We bought a rental house and I was fixing a safety hazard." (Concrete step at...
Shan Vincent
Has anyone used WealthAbility?
Hi Everyone, I wanted to see if anyone has used WealthAbility by Tom Wheelwright. The amount they charge to analyze your information and give you a plan is pretty steep, so I wanted to see if anyone has used them an...