All Forum Posts by: Anthony Drew Gary

Thanks, @Jennifer Griffin  Please PM me the cost implications on my end for this service?

@Jennifer Griffin is there a good how-to on how to report payment history to the credit bureaus?  This is a great idea, but I'm unsure how to properly report.  Thanks for your tip!

I would recommend reading The Book on Rental Property Investing.  It gives decent rules of thumb on how much you should have as reserves.  Jeremy's answer is strong as well!  If you don't have capital right now, maybe you have extra time?

Welcome, Dan!

I'm in a similar boat.  I've actually taught Financial Peace University at my church, so I'm leaning conservative also...  I'm not buying anything with less than 20% down on conventional notes right now.  Others may be making more by using more leverage and therefore more risk, but that's not my comfort zone.  If you've not read Robert Kiyosaki, I encourage you to do that.  If you believe in Dave's principles, you should be able to incorporate Kiyosaki's principles in a way that allows you to still sleep at night.

Cheers,

Anthony

I also recommend listening to The Dave Ramsey show.  Dave's principles are great for getting your personal finances on track.  When your personal finances are on track, you will be less stressed when working on your business finances.  Warning though:  Dave only recommends purchasing real estate using the 100% cash down payment method. Unless your 'pockets' are already 'big', this is pretty hard to do.  If you adopt Dave Ramsey's principles for your personal finances and Robert Kiyosaki's principles for your business finances, you'll get yourself into a good place!

Welcome to BP, brother!

Hello BP Nation!

I've taught Dave Ramsey's Financial Peace University through my church and I thought maybe it's worthwhile to offer to send my renting families through the class?  If they latch on to Dave's principles, there's decent likelihood that they will remain renting for a while, and the class is only $100.

I've heard of free carpet cleaning for renewing a lease, and I've heard of reimbursing ACH payment fees for on-time payments, but I'm curious if there are other ways to keep great tenants using creative ideas?

Cheers,

Anthony

Scott,

Great question!  This really comes down to the level of risk you're comfortable with in all aspects of your life.  I still have a W-2 and I can tell you that I follow most of Dave Ramsey's principles - I'm putting 15% of my income into the stock market.  Beyond that, I'm buying single family rentals with conventional mortgages putting 20% down.  That way, not all of my wealth is in the stock market, yet not all of my wealth is in real estate.  

Welcome to BP, Jason, and if you're new to Indy/Fishers, welcome to the neighborhood.  I'm also in the infancy stages of investing, so know you're in good company.  There have been plenty of folks in Indy and all around BP willing to give advice, tell their stories, and be supportive.  Keep hitting the forums, and hopefully we can meet at some point.  I need to get into CIREIA / INREIA myself!

Cheers,

Anthony

Thanks, everyone. 

I agree with everything I'm reading and that's what makes me curious about the area.  Is everyone assuming that the area is so desirable that few are sending mail in this area?  Does anyone else with an Indianapolis presence have any stories of wholesaling in Fishers? 

Hello!

I'm new to that area and I'm curious if anyone has had any luck wholesaling in Fishers?  Seem to be a lot of nice communities!

Anthony