All Forum Posts by: Cody Ruff

@Alex Get I would always put in the lease agreement that their will be a late fee and always charge it with no exceptions.

@Brian Ellis. My 90 day goal is simply to keep learning. Reading books, engaging in the forum, listening to podcasts and doing research on my local real estate market.

@Christopher Chen. Welcome to BiggerPockets. You will learn and grow a lot and excited to have you here and for you to be part of the community.

@Brian Boyd You can go to livemultifamily.com just watched a podcast with these two investors that have reached 5,000 units using syndication. A lot of invaluable information and that’s where you can reach them to get more information.

@Cole Burley. I would say house hacking would be the best strategy for a new investor. Less risk, low down payment option, and you get to learn while you live rent free, easy to keep an eye on your investment property. A lot of benefits come with house hacking.

@Daniel Torres. If you don’t have a lot of time I would always recommend syndication with investors that have a good and proven track record that shares your values and real estate investment goals. It’s also a good way to get started and learn and to take that information and imply it to your own properties in the future.

@Jonathan Schwartz. I would always charge a late fee and make sure if you do you always charge the same amount and to everybody so you don’t get sued for treating tenants differently and that way people going in know the policy so if they are late their is no argument or confusion on the tenants part.

@Anthony Porembski I know that a lot of investors they will use some kind of draw program when they get started with a project. Once the work is completed and satisfactory they get paid the full amount but not until the work is finished. It keeps the contractor working and honest. Also you already have scheduling and price figured out so they are not trying to switch the price quotes on you or argue when he or she said it would get done.

@Nandy B. I live in the Southern Indiana area and you can buy single family homes even some duplexes as low as 25-35,000 dollars. Of course those require some work but really cheap and usually require some minor repairs and still cash flow immediately.

@Ethan Ducharme Best thing to do is just consult with a lawyer that specializes in real estate and cpa. They are well versed in the best way to shape this agreements that creates a win-win for both parties and gives you the best protection legally as well.