All Forum Posts by: Billy Rogers

I mostly use Angie's List for my personal residence and my one nearby rental.  If you choose a highly rated contractor on the list that has more than just a few reviews I think you will do well.  They may not be as amazing as some of the reviews, but they won't be crooks and will be competent.  They have been infinitely better than the contractors my home warranty company has sent out.  

I've wondered the same thing myself whenever I hear about someone having 50 properties, or especially 50 paid off properties.

No money down is fine if you can handle the expenses without any cash flow from the property.  I bought a house last week with no money down.  I have other properties that cash flow and have cash available to cover any repairs or other expenses.  I already have a tenant moving in this week and the house will be paid off in two years.  I couldn't handle too many of these deals at one time though.  I would never recommend to beginners to just run out and acquire a whole portfolio of non cash flowing properties.   

John T. Reed has a nice little article about Robert G. Allen on his guru rating page.

http://www.johntreed.com/Reedgururating.html#ancho...

My personal opinion is that it's often not profitable and can be very dangerous to finance 100% of a property.  Like everything in RE , there are always exceptions.  The problem is he never mentions profits, just acquiring RE.

You are lucky, Omaha is a very affordable market to get started in.  

Here you go

http://www.trec.state.tx.us/formslawscontracts/forms/forms-contracts.asp

It's a house in a city.  I'm not too worried about it.

I got a quote from my insurance agent for a property I'm in the process of buying.  The coverage was for an amount about 4 times the purchase price of the property.   I think if something happened and I collected 4 times my purchase price I would just buy four more similar properties rather than rebuild.   Should I ask them to lower it?  It's really not that much money, it's just the idea of covering it for an amount so much greater seems strange to me.

I'm closing on a rental property on Friday.   The title company called and asked if I wanted a survey.  They said that since I'm paying cash, I don't have to have one.  I told them no I don't want one.  What do you guys think?  Should I get a survey?  

I think a lot people would have given up after that bad experience.   It's impressive that you kept at it and succeeded.