All Forum Posts by: Wale Lawal

@Xavier Williams I am not sure any Realtor or Investor will do this for you here. Also, some form of training is recommended before using Promulgated TREC contract. 

Goodluck

@Justin Ellis In addition to those recommendation, I will suggest you network with local facebook groups within campus and always get recommendation before you approve any roommate/housemate going forward.

Goodluck man 

Chicago Title Company

I would Re-Fi if you plan on buying another property in the next 90-days. If not enjoy the higher cashflow of $950 as compared to $500 if you Re-Fi now.

Goodluck.

It's a personal decision. I am still actively investing in my desirable location. The market is even stronger and highly competitive than ever. Time will tell who is right or wrong.

Happy Investing Guy!

If you must provide all appliances, I would buy new for the peace of mind since you want to attract higher end tenant. 

Goodluck man!

Finding a Cash-Flow Property in some market can be very challenging, below I gave a quick highlight of my top 10 methods to find your first or next rental property.

1. Network with Few Local Investor-Realtors - Make sure they are also investing in the niche you want to invest in so they can better advise you on the tips and tricks of the market.

2. Identify few local property managers - Let them know that they will be the one managing the property if you acquire it through them. This way, they will give you their best advise because they don't want to manage a property with a bunch of issues either.

3. Get on few local Wholesalers Cash Buyers List - Make sure to vet the wholesalers carefully as wholesaler are known for inflating After Repair Value (ARV) which can be a major deal breaker. Shout out to all the honest and Rockstar wholesalers.

4. Drive for Dollar - This is a very simple driving around the neighborhoods you will like to own a rental property (you can use an App) and look for any property with tall grass, bushes, abandoned house etc. then skip trace the seller(s). Look out for "For Sale By Owner" signs. This is a very slow way but it works. You can also offer someone a finder's fee. There are people that always seem to hear about the good deals. Have such people coming to you.

5. Buy Vacant Property Lists and market to sellers directly yourself - This will cost you some investment upfront and consistency is the rule of the game.

6. Attend Local Real Estate Investment (REI) Meeting and Network - Other investors may have deals or opportunity they will like to pass-on to another investor. This may be because they have another ongoing project(s) and can not take down the deals because of limited funds and time.

7. Through Family, Friends and Neighbors - Tell everyone you are an Investor. You never know who they know that need to sell their house.

8. Find old “For Rent” ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if they haven’t yet rented the units out.

9. Talk to bankers (REO experts) and also attend court-house foreclosure/auction. You might get a foreclosed-on investment property cheaper if you buy it before they list it with a real estate agent.

10. Put Ads on your local Public and Private Facebook Group. “Looking for investment properties to buy,” might be sufficient to generate a few leads directly coming to your email.

I'm sure there are other creative ways. Please drop your comment and let me know which one is currently working for you.

Thank you and happy hunting!

@Arta Montero not to regurgitate what this wise men have said. Real Estate has its pro and cons so is stock.

I personally don't invest in stock because of the volatility and I wanted to give Real Estate all my attention so I can be able to tackle any challenges along the way while working full-time as an Engineer. I even got my Real Estate License in order to make me a better investor and understand what is actually happening behind the scene of every real estate transactions and ofcouse help people buy and sell real estate.

The tax benefits, leveraging power, Long Term Financial Security, tenant paying my mortgage for me (with average $350 monthly positive cash flow), Real Estate Appreciation, ability to easily liquidate and the amount of freedom it gives are main reason why I stick to Real Estate Investment as my vehicle to building wealth.

Sorry to hear your horrible experience with your current Property Manager, I will suggest you seat down and re-negotiate with them. If that did not work, then wait for the contract to expire then thoroughly vet the next PM.

I will also suggest your improve your tenant screening process and have a Landlord Rules and Regulation. I can send you mine for a start.

Real Estate Investments can be very rewarding IF you have the right folks in your team.

Goodluck and don't give. You must win this fight.   

@Adam Sankowski what you are looking for is a blanket loan or portfolio loan. This are very hard to find because of the level of risk involved for the lender. As @Richard Helppie-Schmieder said call several banks and try to build relationship first before asking. This will make the lender comfortable to work with you. 

I have a client looking for this kind of loan and it's been a challenge for him also. 
Seller Finance is the easiest route if that option is available to you.

Goodluck

Great Post @Brian Ellis and that's the power of Real Estate. 

Goodluck