All Forum Posts by: Austin Youmans

Yes you can. I am in the same situation and just had someone do my taxes and they were able to do that.

Read j Scott's book on estimating rehab costs.

Starting out it would be a good idea to visit properties. Take a video camera or phone and record a walk through. Sit down at home and do and do a line item of what needs to be done.

Find a more experienced investor and ask if you can analyze deals for them and they could teach you. 

I will start out by saying I don't know your market but the first thing you should do is network with people in your area. Find some meet ups and go to as many as possible to make yourself known. 

You could start by wholesaling or if you find a killer deal partner with someone that has the money.

Read Brandon turners book on investing with no or low money.

Welcome to biggerpockets. Congrats on getting your license, I am taking a class now to get mine.
Depending on your situation you should look into FHA or VA loans for your first investment. You do have to live in the property for 1 year but you can buy up to a 4 unit property with a low down payment.

You can start by flipping and see if it fits your personality while raising more cash.

But you might just find a experienced investor in your area and work for them for a while to learn the ropes.

Sounds like you may be tackling too many things at once and dividing your attention up.

What are your goals? quit your job? retire wealthy?

I know I always have post-it-notes around so I can use them if I have a good idea I don't want to forget.

or you can just start by reviewing your day, your goals, progress toward your goals, steps to take to get closer to your goals etc.

Good question! I will be following to see what people say.

I think it is a hard question because it has a log to do with the condition and age of the properties. Also if you have equity in your places you could hold less of a contingency account and use a line of credit if anything major comes up.

All of the earnest money should be in the same account. Not sure what he is trying to say but I am not an agent.

I would call his managing broker and another local firm to compare the answers you get.

just say that neither you or him wants to go to court and that you don't want to put an eviction on his record to make it harder to find another place so you would rather offer him cash to move out. Ask him what he feels is fair to move out and give him a timeline it needs to happen.

Before you go come up with what your expences would be to evict him including legal fees, lost rent etc. so you know ballpark of what you would spend otherwise. Make sure not to pay him until all his stuff is out and you have keys so you can re-key the place right there and then with a paper signed saying he relinquishes his interest in the property for X amount.

I am not in your market so its hard to say.
Paint and flooring are pretty cheap. the bathroom and kitchen will be more of your rehab budget.

What level of materials are you using?

Probably best just to call multiple contractors and have them bid it. This way you can see more specific rehab budget and you can ask them questions about it.