All Forum Posts by: Andrew Angerer

One of the few newbie reports that looks half decent. If your comps come in at your ARV I would say this looks good!

(commenting because I want to know the answer)

To build? Unless you have a ton of  construction experience, as a fellow newbie I would not go into construction right off the bat.

I would find some properties that are owned by '"tired landlords" who do not really want their property anymore. Take this property and improve it, get better tenants into it and raise the rents to market value or slightly more. 

Let me know if you have more questions,

Andrew

Looks like you've got the right idea, listening to the bigger pockets podcasts, I've often heard that if you have 6 hours to cut down a tree you should spend the first 4 hours sharpening your ax.  Study study study, then read, but after a certain point you need to go out and do it, I think that contacts with good people is about 50% of investing so while you are studying and learning, take time to reach out to others, help them with something they need and they will be more than happy to help you in return.

All the best,

Andrew

What part of Ohio are you invested in? I know from your podcast you are more of a SFH guy, does this hold true in Ohio as well?

There it is! thanks!

Looks like somehow I have from now until 530 open, which I choose to work on my real estate investing. So I ask you this, if you were 26, no kids, +100 hours of research under your belt and $65,000 in home equity in a HELOC, what You do?

Any suggestions would be gladly taken.

Thanks,

Andrew

https://www.biggerpockets.com/store/no-money-down-...

Seriously the best book for this topic.

Good advice, the price considerations should be something to note, I like your last sentence the best, just have the boilerplate correspondence.

Thanks,

Andrew

NJ laws typically benefit the renter, so you are fighting an uphill battle here, be prepared and have a good lawyer before you start eviction. 

Your best defense is being prepared, you need to screen your tenants very very well, by getting multiple references referrals, and proof of income that is 3x their rents.  Additionally having an air tight contract will help you out, as long as it is approved by a lawyer that really knows real estate laws.

Also, document everything and every encounter with the person, and never speak with them one on one, always have a witness or your lawyer present if things get ugly.

There are some loopholes but only if your tenant does something pretty extreme, in most cases however they can play the system and live their rent free until the court date.

Hope this helps,

Andrew