All Forum Posts by: Adrian Fajardo

@Jose L. Thank you for the recommendation. I'll give them a call. Wish you the best of luck!

@Jose L. I see. Makes sense now. Thank you for getting back to me. Will do my friend. Oh, one more thing. Do you happen to know any good Real estate agents back in Killeen? Or Property managers?

@Matt Brown Hopefully you're still in the area because I'm about to revive this thread too!

@Farren Perera hello my name is Adrian. I'll be moving to Killeen by the end of this year. My plan is to purchase a duplex to kick off my first real estate investment. Would you mind if I PM you to get more information about the area?

@Cavin Brown, hello. I'm moving to Killeen by the end of this year. Do you happen to be working in the area still?

@Jose L. Hello Jose. Really great insight! I'm moving to Killeen myself and I'll be using the house hack maneuver to kick off my first real estate investment. If you don't mind me asking, was the property slightly distressed? I only asked becasue $110,000 for a multi is on the cheaper end of the price range.

@Brian Adam's hello, my name is Adrian Fajardo. I'll be moving to Killeen by the end of this year. Seeing that this post is more than a year old, do you happen to be in the Killeen area still?

@Daniel Dadabo it's not critical as @Brian G. explained but you can also do it if you do have the money. It will even save you more money. Just make sure you have enough to cover the property and repair costs if you're paying in cash.

@Derek Wheeler See, that's exactly what I need on my bank. I have Bank of America and I've been with them for so long but I've always wanted that feature. Ex. Shopping money, Emergency money, Grocery money, etc. Probably I haven't found out about that feature in my bank. I'll give them a call because it would definitely be helpful in allocating for future/unknown expenses. Thanks for the tip!

@Nicholas Lohr I see! It's actually simpler than I thought. That sounds like an efficient way of doing it. Thank you for the breakdown Nicholas, I'll be following that system when I eventually get started. 

Hello BP community! I'm very excited to be here and always happy to accept any tips from anyone. I'm still on the early stages of my investing journey and I ran into this question while studying. When I do get a property I was advised that I should create a new bank account for that property alone and have all income from that property deposited to this account and have expenses pulled from it. 

My question is: 

- How do you allocate, for example money set aside for vacancies, repairs or capex? do you just keep all of them in savings as one lump sum? 

- If say for example, a roof needed replacement therefore a huge chunk of the money on the savings account would have to be used for payment but if what you set aside for capex isn't enough, do you take from your vacancy budget or repairs budget?

I hope my question is clear enough. Any advice would be much appreciated. Thanks guys and good luck to you all!