All Forum Posts by: Ashley St. Gelais

@Andy Lanser

Welcome to BP! I'd suggest learning as much as you can on BP.  

Then attend some REIA meetings in your area. You may find some people there.

Lastly, you can put a keyword notification on here so that you'll be notified when anyone mentions your location.

If you send me a PM, I'd be happy to share a free no pitch training with you.

Hope this helps!

A

@Tanikka Myers

Hey Tanikka-

Once you get going you'll come to realize that you'll be stuck with going 20% down on most properties. Once you max out on mortgages all commercial loans require at least 20% even 25%.

I see the biggest benefit of LLC as the protection of your other assets. For example, if you own the properties in your own name and someone falls at one of your properties, they can use you instead of just suing the LLC which offers the protection and separation from your personal assets.

Keep in mind that the LLC must be formed and managed properly (we hire an attorney to do this for us) in order for the LLC to actually stand up in court.

To provide additional protection, we also have an umbrella liability policy. Just in case.

Hope this helps!

A

@Ajjai Chandra C.

Hey Ajjai - 
Welcome to BP!  Managing from afar sometimes works well and sometimes doesn't.  Do you own any rentals or would you be a first time landlord?

To be honest, if you are doing it from afar for the 1st time as a landlord - you may not be set up to succeed. Not that it is guaranteed, but it's good to get a handle on land lording before doing it from far away.

A few tips for you:

1) If you do decide to try it out from afar be sure to have people on the ground who agree to help out when needed.  Think issues like tenant being locked out of their house, dealing with emergency maintenance issues, showing the unit, etc.

2) Be sure you completely understand the laws/rules of where ever you invest.  Get a lease that follows those laws.

3) Qualify any tenants before they move in. (Credit check, background check, etc.)

4) It may be wise to consult with someone who has the expertise to help you do it right.

5) Depending on the ROI, perhaps you could find a local management company to either do lease ups (finding new tenants) or be on call for emergency issues.

Hope this helps! Please reach out if I can do anything else for you.

: )

A

@Eddie Hutto

www.RealEstateFreedom.biz/Apply

: )

@Eddie Hutto

Thanks for the encouragement. I am really excited about homeschooling!  

Don't let Skype prevent us from chatting. Go ahead and re-schedule it and I'll give you a call on the regular phone line.

Looking forward to it!

A

No problem @Eddie Hutto! I look forward to chatting with you this week. : )

Hey BP Community!

My name is Ashley and I joined this amazing community about a year ago... But never introduced myself.

I love all the sharing of knowledge and support in this community. I thought I'd offer up some specific insight to those of you looking into buy and hold/rental real estate. If you're not sure how to start, or what your next step should be... Or if you need some help strategizing how to get the money you need...

BTW, we built our portfolio worth $1.35M with just $35K of our own cash using the right programs in the right order. Today we own a property management company that manages $20M+ in real estate assets...

This free (no sales) strategy session might be just what you need...

So to claim your spot (these do fill up quickly) head on over to www.RealEstateFreedom.biz/Free-Strategy

Happy Investing!

A

Hey BP Community!

My name is Ashley and I love all the sharing of knowledge and support on this forum.  I thought I'd offer up some specific insight to those of you looking into buy and hold/rental real estate. If you're not sure how to start, or what your next step should be... Or if you need some help strategizing how to get the money you need...

This free (no sales) strategy session might be just what you need...

So to claim your spot (these do fill up quickly) head on over to www.RealEstateFreedom.biz/Free-Strategy

Happy Investing!

A

Hey @Chris S.,

This is a great opportunity to clarify the relationship and expectations.  We own and operate a small property management firm in Vermont and highly value transparency and trust with our clients.  In the beginning we get really clear on procedures for repairs and which contractors to use based on the owners preference.

I'd ask the manager how they new renewal fee was disclosed to you and if they can wave it this one time because you were not aware of it?  Perhaps start the search for a new manager. I do believe in giving people a chance to make something right before firing them right off.  

But if the constant turn over of staffing and inconsistent practices are hindering your business, it may be time to make a change.

Hope this helps!

Ashley

@Brandon Koehler

I'd suggest running the numbers for the property that include estimates to cover the cost of management for once you leave town.  Just because you aren't there doesn't mean that it's not a good investment. You just need to pull in the right team members to make it happen.

In addition, you could look at buying a multi family home with the help of your parents if you didn't want to go the roommates route. I've found that multi family homes have a better rate of return than single. Plus it would give you more privacy.

Lastly, it took me a bit to figure out how to tag people too... : ) So do the @ then start typing the persons name - then a box will show up at the bottom of the reply screen where you just click their name. That way they are notified when you post something directly to them. 

Happy weekend!

Ashley

p.s. Not sure if this is ok with Bigger Pockets - but since this is all about helping other out - I am offering free no strings attached 15 minute strategy sessions... If you want to claim a spot on my calendar just sign up here:  www.RealEstateFreedom.biz/Free-Strategy