All Forum Posts by: Clint Galliano

Welcome to BP from Houma!

Be sure to check out the podcasts in addition to following keywords of interest in the forums!

Clint

Do the rental analysis on anything you are looking at doing...make sure that the property can cash flow. Even though it looks cheap, it still may not cash flow. 

As far as how to pay for it, you can go further towards guaranteeing cash flow by paying for it cash, but depending on your total amount of cash on hand, you would be better off, cash flow-wise by using leverage (financing) to make your cash on hand go further. You have the option of either buying a better property or buying more properties.

I suggest reading @Brandon Turner's The Book on Rental Property Investing...it will run you through the steps of what you need to do.

Also, listen to all the podcasts for ideas/information and continue to utilize the forums for advice.

Good luck @Jeremy Cooper, from Houma, La.

What is the best way to find a real estate-oriented CPA in my area?

Also, should I stick to looking for one right around where I live or would it be OK to use one who is in the city I work in, about 100 miles away from where I live? (In the event I can't find one near home.)

I don't know a whole lot about tax sales, but have you fully acquired the property? I know in Louisiana there is a redemption period and you have to get a judgement to "quiet" the title or something along those lines. 

Welcome to BP! Check out the podcasts...lots of information from a bunch of different aspects of REI.

Welcome to BP from Houma!

Welcome to BP! I am new to BP also. Are your properties in Lake Charles?

I would say talk to an insurance agent...they should at least have an idea...you can look up the flood zone classification for the parish, then get with an agent that can get you flood insurance. They should have close guess of what it will be.

We charge $50 as a one-time late charge. I have seen other with more experience than me respond that it is better to try to get them out & replace them with more responsible tenants...