All Forum Posts by: Chris Erwin

@Terrell Spence Have you run any numbers on the house? Is there any equity in the home? There are options to offer them, but really it only makes sense if there is some equity. 

@Mike Nelson I would always recommend that anytime someone lends money on a property to get that loan recorded as a lien against the property. This will help keep everything in order, especially if the circumstance happened that you mentioned in your post. 

@Adam Shindler In my opinion, you have long terms tenants that pay on time. The damage has already been done on the unit. I would let them stay and when they leave go through the rehab. Is there a security deposit that you will collect from them? If so, when they move out, discuss keeping some or all of it to clean the unit. 

Hello @Drew Cameron it's great to hear you have a plan to get started investing in real estate. My group has been investing in the Midwest such as St. Louis, MO and Birmingham, AL for years. We have benefited from the lower cost of acquiring the properties, lower annual tax rates compared to many areas of the country, and the lower cost of living in these areas. 

Hello @Saleh Hs I guess some place to start is understand what your goals are. Are you already investing in real estate? Are you looking to get started investing in real estate? 

@Seth Nowak Since you already own the property, you could just do a Quit Claim Deed to keep expenses at a minimum. 

Hello @Duc Ong I would recommend utilizing services such as Angie's List or a website called Thumbtack. I have utilized both services and they are a great tool as they offer reviews on many companies that provide services that you are looking for. 

@Daryl Arias Most areas of the country have what is called a REIA (real estate investors association). I would search out one of these meetings and start attending if you are not already. There are new investors that attend these, but most of the time there are very experienced investors as well.

Hello @Karen L. you have picked a strong market. That can be good and bad. The good part is the local economy is very strong with a healthy job market. The bad part is, the housing demand is very high here, which of course means prices are rising rapidly. Are you looking at this market for strictly an investment property?

Hello @Jennifer Hernandez you have come to the right place to learn and grow as a real estate investor.