All Forum Posts by: Alecia Loveless

I work a job that I enjoy where I am low level management. 4 months ago I got a new boss and he has had me on his black list from the beginning. Each month he has written me up for between 8-15 different infractions which are completely bogus. I have gone to HR about this and it stopped briefly but has begun again.

Tomorrow I am selling a nice sized property which will free up some capital to invest. Once it is gone I will be down to 2 doors cash flowing about $1200 a month. However I will be set to do some more investing to pick up a few more properties when I find the right ones.

I’m really leaning towards going full time into real estate and maybe picking up a part time job I’m interested in, perhaps 15-20 hours a week.

Am I crazy for thinking I can make a go of it with about 4 doors and $2000 in cash flow and a lot of hard work.

One other thing I’ve owned various forms of rentals and investments over the years, just getting back into it now. So I do have some experience.

Thanks! Alecia

@Paul Sandhu I have one tenant who lived with me for two years at a previous residence that had a separate apartment in it. I am set to sell that property this Friday. Last year I bought a duplex and moved into it and renovated the other side to rent and this tenant moved into the renovated side. I allowed him to do some things like putting up his mini blinds and he is an accomplished gardener so he helps with the yard work. I will not be allowing my tenants in my other rentals to know where I live or allow them to do work on their property other than maintaining the lawn or snow removal if they live in SFH.

@Chris Klingemann I’m currently selling a property with a pool. It was a ton of work, expensive to maintain, and the reality was that although people loved the idea of there being a pool on property no one actually ever used it except for my personal friends when the property wasn’t rented. It was a B&B for the 12 years I owned it and now is being sold as a vacation home to a wealthy family. I never enjoyed having the pool and certainly wouldn’t recommend adding the liability of one to a property unless it was a large apartment complex where a lifeguard could be onsite.

Alecia

@Devyn Caraballo I’m in the process of having two 500 gallon underground oil tanks removed that are in use and replaced with interior tanks. I have no reason to believe they are leaking but my buyers want them out before closing. I have one estimate for $11,000 for removal of the two, soil testing, and installing the new ones, a 275 gallon tank and a 330 gallon tank. I will be getting a second estimate Tuesday. Time is of the essence as we have the clear to close from the bank for the end of the month and I think I’m going to have to have an extension. However the buyers drug their feet two weeks on approving the inspections so it’s not totally my fault. I’m hoping for a lower estimate from the second company as my realtor and handyman said $11,000 was high. My handyman said he could do it for $7,500 but the realtor felt a professional soil testing company would be better.

@Andy Bauman Have you tried Alpine Title Services out of the Conway area? I have found them to be both competent and affordable. I have never used them in the manner you are mentioning but look them up on Google and give them a call if you haven’t.

@Samantha Gehin-Scott I live in northern New Hampshire and am hearing from my realtor friends that appraisals are out 45-60 days.

Not best advice but best learning by observation. My father invested in real estate by a college campus one property at a time over 30 years. He probably spent about $500,000 total over that time. But he laughed all the way to the bank when an investor came in and gave him 5 million for his property to do a big multi use development.

Worst advice: My mother is holding some money of mine and keeps discouraging me from investing it in another deal or several deals because her bank is offering .04% interest.

My parents are still married so I can’t figure out her mindset.

Alecia

Bought a Bed & Breakfast at 21 and then some multi families a few years later. My partner took us to the cleaner on the multi families so we made him buy us out and purchased a single family that we flipped a few years later. Bought a separate Bed & Breakfast and sold the first. Ten years later put current B&B on the market and bought a duplex that I’m house hacking and am selling B&B. Looking for that next deal currently. Since I began working outside the B&B’s 8 years ago I have always participated in employer retirement fund match and have my own RothIRA.

Alecia

Hi James, I’d be happy to provide you with whatever information you may need. I’m starting to see some deals coming on the market depending on what you’re looking for in both Bethlehem and surrounding areas. Of course right now if they’re priced right it’s a bidding contest but the numbers are working to go a bit higher than list. Look forward to hearing from you. Alecia 

I’ve got a 2012 Acura MDX that was my mother’s hand me down when she got a new car with 100k+ miles on it. It’s got dings and scratches but hauls most things I need to move or else my partner has a 2012 Toyota Tacoma to haul bigger stuff in. Either way our tenants don’t seem to care about our vehicles. I plan on driving the Acura for another 10 years at least and if I don’t get another hand me down will likely look for some type of SUV and make sure I still have access to a truck too.

I live in Northern New England and have had a “summer car” before, a little sports car, and if I can find one I would buy one again if I can get one cheap enough but I wouldn’t use it for rental properties. Personal use only! Not something that would depreciate a lot, like a $4,000 purchase.

Alecia