All Forum Posts by: Alexander Felice

We need more welfare mothers like him then! We could get to Mars even faster! 

Depending on your bank you should be able to see the deposit slip on your online statement, for free (you can do this at my bank). That's the easiest way imo. 

You could also do separate accounts for each property. 

I don't know specifics about solar anything but I would support any venture Elon Musk was part of.

#fanboyforlife 

I look forward to other opinions though. 

@Account Closed I live in Fayetteville and I'm looking to buy another property later this year. I'll keep you in mind. 

Fayetteville is a decent market for rentals in my opinion. low home prices, high rental market, but LOTS of competition! I know some guys that do ok with flipping as well but I don't think it's as lucrative. 

I think mentors in reality don't meet what new investors expect. What I think a lot of new people are looking for is an experienced investor who just wants to find a young ambitious hustler to take under their wing. Well, unfortunately, capitalism doesn't usually work that way LOL 

Mentors are people who you can run ideas by and get bits of wisdom from for free. I have a few mentors that I can talk to if I need to, and only a few of them have the same business plan as I do. Mentors are NOT people who are going to spend tons of time with you for free with nothing in return.

If you want a true mentor who is going to help you through a dear, or invest with you, then you need to provide VALUE. Not just ambition or an offer of labor but something that will give them a return on their money greater than what they can do without you. 

So again for me, a mentor is the handful of people I know that I can bounce ideas off of once in a while to make sure I'm on the right track. 

For 2 properties I don't personally see many benefits. No matter what, you'll have to manage your property manager. So basically you're paying out 10% per property and you are managing 1 person instead of 2. 

With proper tenant screening and good automation of processes land-lording is pretty easy. When you get more properties it makes more sense to sub it out. Unless your life is really not set up to deal with tenant issues (weird hours, distance, etc) then I would try to manage yourself, you can always hire someone later. 

That said, ALWAYS account for mgmt expense even if you are doing it yourself! 

BP, google, REIA, social media

I see these threads on occasion and this is the best advice I've ever seen to solve the issue. NICE!

Check local laws, this isn't legal everywhere.

Also, if you do it, don't spend that money. For whatever reason if she breaks lease and you have 4-5k of hers, I can't see any judge letting you keep that money. 

Use the search function, this comes up a lot and while it seems like a slam dunk it's generally not good practice and for good reason. 

Refi will require a new interest rate, but rates are really low. Shouldn't be too much of an increase.