All Forum Posts by: Christina I.

@Leslie Mangrum

I don’t do cash as I like to make sure there is a paper trail. I only use Cozy. It’s free for me and my renters (as long as they use ACH) and it allows me to set an automatic late fee in case it would be needed. It also allows for one time billing if there are any random other expenses they must be billed for. I have been super happy with Cozy for managing my rentals and highly recommend it.

@David Simard

This is one of those questions I feel is a personal option. I personally just got a used washer and dryer off Craigslist that were in fantastic condition for $120 for my current house hack. Glad I did it that way and didn’t get new appliances.

@Tuvia Goldstein

I personally use cozy.co. So far I’m very satisfied.

I would highly recommend reading The Book on Managing Rental Properties by Brandon Turner. Lots of information that will help you and comes with some templates for various forms you will need to manage your properties.

@Eric Fitzgerald

Hi Eric!

There are so many things you can do to put yourself ahead. Some of the things I’ve done are what I’m listing and it helped me get to buying my first investment property in only about 2.5 years.

1. Make and keep a budget.

2. Live frugally.

3. Pay yourself first. (Can be for investment account, retirement account, emergency savings, etc. Depends on your situation)

4. Have emergency savings!

5. Find ways to increase your income.

6. Keep educating yourself. There are tons of free ways I’ve been using. Podcasts, borrowing books from the library, borrowing books from my mentors, etc.

Even today I still do this working towards my next couple properties. The fact that you are starting now will put you ahead of many others!

@Robert Tinker

The BP podcast episode 314 covered this topic really well! I actually saved the episode so that I can always go back and reference it. It covers all aspects of dealing and managing with contractors. I highly recommend giving it a listen!

@Charlie Chres There is a great BP podcast on this very topic!

https://www.biggerpockets.com/blog/biggerpockets-podcast-314-find-rockstar-contractors-and-manage-like-a-boss-andresa-guidelli

I just listened to it recently and took away a lot of quality information. I would highly recommend listening.

@Jared Baker

I think there is value to both the argument for and against.

I personally am a week away from closing on a property out-of-state and have not seen it in person. However, I did put a lot of effort into finding a real estate agent I can trust and work with which made it possible. My agent and I would set up a time to look at a property just like if I was there and he would video chat me as we did the walk through. This allowed me to tell him what I wanted a closer look at, ask questions about the conditions of certain things, “see the neighborhood,” etc. When connection was poor he would record the videos and send them to me, and then ask if there was anything I would like a closer/second look at.

He is an experienced agent, knows the area, invests himself so he understands what I am looking for (and how to think!), and is extremely accommodating to working with me remotely.

If you have an agent or someone else you trust in the area you are looking it’s a big plus.

Also, I believe Brandon Turner wrote an article on BP on this very topic. I would look it up!

@Jennifer Darby Personally I would avoid carpet all together. Instead, I would go with vinyl or laminate.

@Joe Pearson I would NOT do this. You are taking on more risk than you need to. Make sure you have a buffer before delving into a purchase. It will give you piece of mind and will allow for you to take care of whatever repairs and other expenses will inevitably happen.

Take the time to save up more money so you are in a better position to able to manage something like vacancies or repairs without putting your financial health at risk.

Hey everyone!

Does anyone know a reliable, trustworthy contractor in the Nampa/Boise area? I have a potential rehab project coming up in that area but want to get some good recommendations before the rehab becomes a sure thing? Any recommendations?

Thank you all!