All Forum Posts by: Dan Turkel

Hey Cody,

Referrals. They're huge in this field and they're going to be very important in establishing connections with potential team members. I recommend starting by doing a search for investors in your area on the BP website. Then, choose a few who have properties in your market of choice and shoot them a message. Ask if they have any reliable contractors, relators, etc. that they'd recommend. That should give you a solid foundation to start with.

As far as priority goes amongst your team members, it depends on what type of investing you plan on doing. Anything involving repairs and I'd recommend putting a lot of effort into finding a trustworthy contractor. Doing turnkey investing? Try to ask around for a good turnkey company or wholesaler. 

Welcome, Dustin! Couple of things:

• I recommend doing a search for other investors in your area. Here's how: https://www.biggerpockets.com/faq/how-to-search-fo...
• Second, here is a great place to start looking for networking opportunities in Denver: https://www.biggerpockets.com/forums/521-events-an...

Good luck!

Hey Deangelo!

- Tenants pay you rent. Ideally, you're putting aside a portion of that rent each month for Capital Expenditures. If the HVAC needs to be repaired, you should use those funds to do it. Thus, the tenant should indirectly be paying for it.

- Having separate meters is ideal because you're then able to assign that cost to the tenant. If there was only one water meter for the property, how would you fairly distribute the cost for the water amongst all of the units? Alternatively, if each unit has a separate meter, there's no guessing how much each unit owes. This makes it relatively easier and more straightforward to assign that cost to them. 

- Yes, I believe they are the same for the most part. However, I haven't seen many profit and loss statements incorporate gross scheduled income and vacancy into them like an APOD does. 

Collin Schwartz , congrats! I've considered using a traditional LOC with a bank but after doing some research, I realized it typically doesn't work to use it as money for a downpayment. It sounds like you had better luck using a HELOC instead. Could you explain a bit more about how that worked and if any issues arose using OPM for a downpayment?

Nichole Stohler I'm really enjoying this series! You're breaking things down in a very intuitive way. Much appreciated. I look forward to continuing to follow along :]

Hey Thomas S. , you seem like you have a thorough understanding of the most commonly forgotten expenses out there. Would you by any chance happen to have an APOD form you use for your properties that you'd be willing to share? I'd love to see everything you take into account for your properties.

Hey everyone, I'm currently living in NY and have been considering getting my RE license. However, I know I will be moving to Texas in 2 years. Is anyone familiar with how a NY license would impact my ability to get a Texas license? Would I have to start studying a bunch of new material for a totally different exam?

And one more: http://www.silive.com/northshore/index.ssf/2017/06/8_projects_also_boosting_state.html?utm_campaign=socialflow&utm_source=facebook&utm_medium=statenislandadvance

https://www.google.com/amp/amp.silive.com/v1/articles/20643661/north_shore_boom_home_values_a.amp

It certainly isn't*