All Forum Posts by: Chuck Holland

So you rolled into one of your tenants "home" and pulled out thier washer and dryer without letting them know before hand? That would warrant an *** chewin if so.

First off, get a copy of the CC&Rs and Rules & Regulations. If its not documented then the HOA Board has no say in the matter. I'd find out where the coin op money is going. Sounds like a money grab to me. Many self managed HOAs run renegade.

Triangle Real Estate Investors Association (Raleigh, NC) - Meetup

http://www.meetup.com/Triangle-Real-Estate-Investors-Association/

You need to join a local real estate group or find a local mentor before you flush any money down the toilet. I just used google and searched for real estate meet up group in your area. You do the same and find one that you are comfortable with. And do yourself a favor and dont run out and spend 10k on some over priced seminar or guru. There are some people who are not nice who will rob you of your last dollar at it will be totally legal So be careful.

I respect that you have the desire to learn, but there is nothing to analyze here. There is no deal without positive cash flow. Unless you can buy and hold it with a negative cash flow hoping and praying that it appreciates faster than your loses and sell it for a gain. That's a suckers bet. Ask some the guys who were doing that in 2007. You need to find a wholesaler and pay cash for a property with a lot of deferred maintenance at a purchase price that is 30% below what the after repair market value would be. Then you could sell it at retail or hold it for cash flow. Just read everything you can on here. Especially the beginners guides.

Just for future reference, it's "blue collar neighborhood". You don't have to use "shirts". Funny how languages translate.

150,000 dollars in student loans gets you a combined income of 80k per year? Lord have mercy that system is rigged. I'd pile every bit of money I had into paying that off before interest eats you alive. Sell your house or rent it out and move some place cheap. Read and listen to everything you can by Dave Ramsey. Nothing I have ever done in real estate EVER pans out the way my fancy ROI calculator has it. Anything you buy, best have 6 months in reserves to give you peace of mind if things dont pan out the way you hope. I got my teeth knocked out and my lunch money eaten on some of my inititial "deals". you are in a great spot that I wish I had when I started and that's BP! Good luck!!!

Seems like getting those properties turned over and rented would be priority number one. I wouldnt like the sound of a sucking chest wound depleting my reserves while I was taking a pay cut in my w2 job. I would want to hire a PM to run those rentals so i could focus on the wholesale side. Work "on" your business and hire folks to work "in" your business is something I heard somewhere that stuck with me. Good Luck!!!

You must buy around large industry that provides jobs for a large enough renter pool. Can't get good tenants that pay monthly if there are no jobs.

200.00 bucks for the entire two car garage. I charge this becuase my PM said I could get that much for it....and she was right. (LA Area)

Personally, I would never pay down a rental. Only my own home. That way if my whole portfolio came crashing down, my employer sends me kickin the can, then I have minimal out of pocket expense. Id get a job at Home Depot or Wal Mart and call it retirement. Lol

8500 monthly cash flow is like making 180k annually in w2 income after the state and feds are done with ya!!!! We are brutalized in California.

yeah. Thats my thing. My personal residence is not an asssett. Its sucks funds out of my pocket. I want my tenants paying all the interest so i can keep the cashflow. One exception. If your upside down on