All Forum Posts by: Cory Lucas

@Tim Herman curious what you meant by unsubstantiated? The notes I’m behind on or just my notes in general? Thanks for the feedback

So, I try and make a little note about conversations/interactions that I have with my tenants and file it with that property. To date, I’ve been using dropbox and making notes, but I haven’t done the best job in the last few months of keeping up.

So, my question is versus going back and trying to log conversations, am I just wasting my time? 

My thought process on this was should I ever go to court over some type of a matter I would have a log detailing the tenants time at the property and what all has gone on to be able to present in court. I’ve obviously never had to do that and I’m now wondering if it’s even more my time doing so

@Edrei Alaban congratulations and kudos! You are well on your way to financial freedom at only 18 years of age and thinking this way. 

My advice, and listen closely, if you follow this you'll be financially free much sooner than you think. HouseHack! Learn the ins and outs of it and start doing that and continue to do that to build up your portfolio if you can. You can buy up to 4 units as a personal loan vs a commercial loan and put down far less for a down payment. Ideally if you can find a duplex, live in one side, and rent out the other to get going. Do this every year to two years and in 10 years you could have up to 20 doors! 

Happy to help however I can and wish I would have been given this advice at a young age, I wouldn't be working for someone else still 

@Dominique Dickens welcome! Happy investing 

@Joe Zinger you are 100% correct

@Rick Albert this is my concern, but I know there are tactics in going about this to protect yourself, which is what I’m hoping to learn

@Keith Hill well I guess the caveat there is it's good to hear it's not just me that's having a difficult time in finding properties

Thanks for the feedback 

@Michael Doherty it does make sense and that has been my thoughts exactly on what is going on. I don't like submitting low ball offers, but at the same time I have to do what makes sense to me with how my numbers work. And especially with right now the prices on houses are outpacing rental rates in my area and I'm sure elsewhere too. 

So I do see both sides and I'm understanding of him not wanting to "waste" his time with low commissions on mine, so I get it. With all of that, he and I have actually had that conversation and I gave him the opportunity to take the out and he said he was fine with working with me as he knows I'm going to be buying more properties. This convo was had after a deal fell through and we had looked at multiple properties. So given that we've had this conversation and the frustration on my end for potentially losing out on some properties I'm exploring other options and I know there are investors out there that just call the listing agent, so I just thought maybe I'd try that route, but I see all the points in finding someone that knows the ropes of investing too 

Thanks for the feedback and time 

@Dustin Allen thanks for the feedback, good insight 

@Jaron Walling good stuff, appreciate the insight. Yeah I'm quite sure seller financing is not happening that often right now, I was just tossing that out there as I'm curious what others do to mitigate/lessen the amount of a down payment

It's going to be interesting to see what happens in markets. That's been my biggest obstacle at the moment, even houses that I could do some fix up on the price point just to buy it is out pacing the rental rates