All Forum Posts by: Anthony J Tedescucci

@Mike Hurney They can raise the price all they want. I don't want the house at the current listed price and they are only marketing to families looking for a home. There are two houses listed at the exact same price in the area that are undeniably better than the house I like (for the purpose of living in). If those two both sell in the next month or two, I'll reevaluate my strategy. As far as I'm concerned, if they raise the price, it'll only guarantee the house remains on the market throughout the summer. 

 There is one criteria I didn't mention in my original post; I need to be able to cover holding costs myself in preparation for worst case scenario. Looking into conventional finance with under 10% down, my holding cost on the 2 places on my list so far would be around $2000. I'm just under that at the moment and expect to reach that goal by April. Also, I have reason to believe the property I like the most will stay on the market for a while. I don't believe it is being marketed well at all at the moment and there are similarly priced homes in the area that should sell before the house I'm looking at. By the spring, I hope the asking price drops a bit, I have more income at my disposal, and I'll have more capital for a down payment. So for now, my timeline is to keep reading up on different finance methods and watch the market. I'll adjust if the "better" homes in the area sell in the next month. 

I think it really depends what type of landlord you want to be. Do you want it to be strictly business, with a revolving door of tenants that make a little extra money, but require more work and risk, or do you want to create a relationship with good people and keep them with you? Neither are wrong, but I guarantee they are asking you this 5 months before the lease is up because if you say no, they'll walk. I know having a dog is very important to me and if I was living in an apartment and the landlord said my dog had to go, I'd be asking him how much it costs to break the lease immediately. 

Thanks for the recommendation Michael! Brandon's book is on a long list I want to read by the end of the summer. If you have any (lesser known/advertised on this site) others, let me know. Again, thanks for the reply. 

Hello BP Community,

I am a 23 year old from the Boston area looking to learn more about buy and hold properties as a means of creating passive income. I work an office job that allows me to consume audio media for the majority of my day. It started with a few other financial podcasts and reading Rich Dad, Poor Dad, and now a few months later I've ended up here. I have an idea of the strategy I want to use for a specific niche of investing, specifically turning a single family home in an expanding college town into a rental property. My criteria is: walking distance from important facilities: AKA bars, academic buildings, and food (in that order), homes that are ready to rent because the little capital I have I want to save for unexpected expenses, and homes that have as many, if not more, bathrooms than bedrooms. I also want to buy a home from a family looking to sell to a family. The reasons for my last two criteria are: college students won't rent a house with anything worse than a 2 person : 1 bathroom ratio and bedrooms are easier to create than bathrooms. Also, I do not want to buy a house from a rental investor. I think i can find a home very undervalued if cash flow isn't a selling point that the homeowner can use. I also plan to self-manage my property and would be grateful for an opportunity to learn from those of you who manage your own college rental. Also, any book/ podcast recommendations on creative financing are greatly appreciated. Thank you for any guidance you can give!