All Forum Posts by: Brad Z.

The biggest challenge that I see is getting loans after you turn off your W2 income. The relationships you build with small banks are critical. On the flip side, in a W2 paying environment, you have to earn 5k a month to take home 3k a month. It seem in RE, if you clear 3k a month, you can take 3k a month due to the added deductions (depreciation, add'l benefits of owning your own business, etc).

I currently have 14 units (6 unit, 3 duplex's, 2 single families) and try not to go below 8k-10k in reserves just for the unexpected. I think you probably have a minimum needed for properties 1 through 3, then $$ held per door can probably decrease.

Agree with thoughts that tenants are customers are customers. I learned really quick how important proper screening is.

Using sub par contractors. I didnt loose money doing this but caused a lot of headaches/

Not buying a larger complex sooner (just working on that now)

This is how I got my start. I purchased a duplex (owner occ) and lived in one half for 3 years. Its been a great property to this day! I highly recommend this approach to get started.

I currently use NTN but am not a huge fan. I am also looking for a good alternative? A one stop shop for credit, criminal and eviction records would be great. Anybody care to share their experiences with other online screening companies?

J Scott,
Can you send me that sku for the appliances at HD? My email is [EMAIL REMOVED]
Thanks!

great replies and thanks again for the feedback!

working on a 3/1 ranch (900 sq ft) and getting estimates to add an electric heat pump (in attic) and an outside air handler. replacing baseboard heat. It will require all new electric from panel, insulated duct runs, special unit for attic, etc...Initial quotes are around 5k including all material and labor. . Thoughts?. It feels a bit high, working on a few more quotes this weekend.

its a big 3 inch cast iron stack that would require 2 walls and a ceiling demo'd to replace, its catching a full bathroom and kitchen. It was a coin flip to repair or replace but would have been a significantly bigger project to replace.

he repaired it with 2 rubber couplings and a piece of pipe.

hes a good contractor, he makes being a part time investor very manageable....too bad he doesn't collect rent :) thanks for the feedback guys.....

I have always thought about doing this. For those that manage themselves how do you handle the day to day remotely? such things as cleaning between tenants, inspections after tenants vacate to assess if the security deposit is going to be returned, etc...?