All Forum Posts by: Daniel P.

Can I please get the info as well?

I currently live in Winchester and own a few properties out here along with some in Inwood, WV. It is tough to find multifamily here and as someone said earlier, when you do they are old and almost always in the wrong area of town. I am happy to meetup with whoever wants to discuss investing out here. 

Hey JT you can find the meetup over at meetup.com

https://www.meetup.com/Shenandoah-Valley-Real-Estate-Investors/

To add onto my 1st response. My wife was very similar to this for many many years before we got into real estate investing. It was a process for us. As @Kris Zabish stated we had to align our goals. 

During those times my wife didn't have any goals and well mine weren't really goals. They were hey we can make some money doing this and it makes sense so lets jump in. In my opinion this is a path to failure for a variety of reasons (for me personally).

Have you thought about it in the following context?

What is your Why for wanting to do this? When you have your why, you can then start defining some goals. Once the goals are set, you can then start putting in place the processes to achieve your goals. 

Why --> Goals --> Process

Once I was able to do the above, my wife knew I was serious and I was able to easily articulate my vision for why I wanted to do real estate or any of my other ideas. This helped my conversation with her so much that we now own rental properties, participate in syndication deals, looking at doing private lending and so much more. She is completely on board. 

I hope this helps.

Daniel

I echo what @Jay Hinrichs says. You don't have to be the landlord to make money in real estate. You have REITS, Syndication, private lending and more to pick from. Maybe start with one of those to get your wife more comfortable with the thought of real estate. 

Besides, who doesn't want to be the bank? 

Good luck!

Daniel

Welcome to BP! 

@David Cole I would personally keep it as it cash flows and before you know it you will have it paid for which means even more cash flow! Also why sell now if it cash flows, I assume you have no headaches with it and it will like appreciate in value? Do you need the cash for something else?

I highly recommend it! It has saved me tons of time. 

Hey I am going to try and make it to this. If I can get there I look forward to meeting everyone. 

@Todd Powell Great discussion! We require it for our tenants and we are also notified if it cancels. With that said, it is written into our lease and we did threaten eviction to a tenant over it earlier this year. Honestly we would not want to evict over this but they were just playing games so I needed to show them we were serious. They got the point and promptly picked it up within 24 hours. From my perspective they we’re testing us and if we let that slide what else would we let slide, if that makes sense. If in doubt talk to your insurance agent and see if it makes sense. Daniel