All Forum Posts by: Neil Schoepp

@Kevin L.  If the tenant has a preference I will try to accommodate that. Either I or the tenant must be present during the repairs. I will however perform repairs without the tenant regardless of their preference if they are that critical. I haven't had a problem as of yet. 

@KIMARD EGLETON thanks for the help. 

@Jahmar Childs here are he links to those podcasts

James Vermillion podcast #23

Elizabeth Colegrove podcast#103

@Rita Droz  something else you may want to check into with your attorney. 

Most times a lease will be written to you the individual. Holding you responsible if your business closes and you end the lease early. 

Form a business entity and have the lease written between the business and the landlord. If the business fails your not on the hook. Not sure if this applies nationally but I read this online and it was confirmed by my lawyer 9 years ago when I opened my LLC.

Thank you for protecting my freedom @Jahmar Childs . There is an investor here (her name is on the tip of my tongue) that her husband is in the Navy and they have a few houses from their different stations. So it is very doable. Is there a specific reason the VA loan is not an option? You may also find the podcast with James vermillion of value. He was stationed overseas when he first started out. I'm gonna go look for the Navy gal. I can see her just not remember that name.

Good luck.

Welcome aboard @Dan Hatch  I haven't pulled the trigger yet but I to feel that multi families are the way to go. I plan on buying a couple,of du and tri plexus then parlay that into larger multi families that I can force some appreciation on.  You will find a wealth of info here. Ben Leybovich has written some nice stuff on multi's.

Look forward to seeing you around here.

@Thorney Gibson the only place I have seen stickies is at the top of the individual forum home page. For example here on the Rehabbing and flipping forum. I don't know of a page with all the stickies from all the forums in one place. 

@Michael McDermott how close are you to Philly. Here is one there. I cannot personally vouch for them as I haven't attended I just found it when looking for one up by me.

Philly REI

@KIMARD EGLETON 

My priorities are figuring out your WHY. 

Why are you investing. If it's just for money then that won't get you through the hard times. My WHY has to do with passing a skill set on to my children so they will be independent and not have to rely on anyone but themselves. Your WHY keeps you focused.

Get your finances in order. 

You say your credit is the best. Well then work on making it the best. Get used to treating money properly. If your personal finances are not in order than what makes you believe that you will treat deals and the money it produces effectively. If you get your credit back up there you will be able to find the money. 

Decide on the type of investing you would like to do. 

Wholesaling, flipping notes, buy and hold SFR, multifamily or maybe a mixture. Read up on each one decide what fits your character. Then make yourself as knowledgeable as you can on that type of investing.

I personally like multi families for cash flow. And I am presently looking at getting into notes.

Down

@Serge Bertossini  welcome to BP. You will absolutely find the answer to all your questions here. I suggest you listen to some Podcast on the topic. There's some really good info there on how to find deals. To give you a very basic quick overview: Most of the time you pick an area and start a mail campaign. Most wholesalers target properties with out of state owners with 50% or more equity. They look to get the property at 70% after repair value (ARV) minus repair cost and minus any liens on the property. If you did some searching on here you would come up with a a lot of stuff to help you along from finding the properties to finders buyers and putting deal packages together. I've yet to hear any wholesaler say they find their properties from the bank. I'm not a wholesaler so this may be possible I just haven't come across it in my reading here.

Spend a lot of time reading here and you will get a very good feel for how it all works. 

Anything else you need just ask.