All Forum Posts by: Dave Kush

Say it to them as well. Point at the section in the lease when you do. Later, when the machine breaks, you will have one more way to end it quickly. 

Can you be more specific about the superstition? Is it the sort of thing that may fade with time? Later on, if you couldn't sell it, if you could at least rent it out and remain cash flow positive, you could wait out those issues. But that said, be very careful, because you have correctly pointed out that the problem the current seller is facing is the problem that you will face later.

Based on everything you said, I think you just need to jump in. If you want to read one more book, I always recommend the Weekend Millionaires Guide to Real Estate Investing by Mike Summey and Roger Dawson. The b r r r book is more detailed and more up-to-date. That said, in this book they give you a pretty good step by step.

To be honest, once you know the outline, most of this comes down to practice.  You can't wait for all the lights to be green before you leave the house. Life is a journey and you only can see up to the next bend. 

Learning from another person is not a bad idea. Maybe instead of paying a guru though, you could offer to work for somebody for little or no money to gain some experience. You could also offer to take investors out to breakfast or lunch and talk to them in more detail.

 All of this! 👆

Handle it diplomatically and then have one finger on the lease-non-renewal button going forward.

Hard to argue with any of the comments here. I would say do a ton of research to figure out what type of real estate investing you want to do, and more importantly, why you are investing in real estate all together. The answer can't just be money, it has to be the things you do with the money.

there are ways to buy real estate with no money and bad credit, but it is a lot easier if you have those things. Well you do your research, anything you can do to shore up your finances and increase your cash and income is a huge plus.

Do not be discouraged people who are not in real estate or what they have to say about real estate. They are a dime a dozen and will all tell you it's a bad idea.

Definitely listen to other experience investors who already have done what you are trying to do, especially those who started from a comparable beginning.

Know that whatever deal you are looking at, there is always a better one coming, so never take a deal you're not 100% comfortable with or because you feel like if you don't take that one there will never be another one that good. It's a very common feeling, and there is always more real estate to buy.

I love the BRRR book. I would also recommend the Weekend Millionaires Guide to Real Estate Investing by Mike Summey and Roger Dawson.

Good luck! 

My advice in general is to try and experiment until you find what works right for you. Working out and fitness can be a little different for everybody. Find something you really enjoy doing and look forward to.

my specific advice is to get up earlier and do the workout then, at least if you start running into difficulties finding the time. I personally get up and work out at 5:00 a.m. so nothing can get in the way of it. I've been doing this for about 2 years and decide from my physical health, which has shown drastic improvement, I feel less stressed and I'm more productive.

100% agree on getting an attorney, and you can almost never just enter the property in these cases, especially in tenant friendly states. And even if you could, that's potentially dangerous.

Why is the tenant refusing to allow the repair man in? They are usually happy to have things fixed and repaired for them.

I have used these rules of thumb in the past, very similar to those numbers, and I find that they come out a little lower than when I actually itemize the rehab. I would up it a little bit just to be safe. 80 per square foot for a full rehab is probably still even a bit conservative.

I think this depends on where your properties are at. In general, I have had greater issues when investing in lower income areas. 

That's not simply saying, never buying low income areas. Those people need housing solutions too. We just have to make sure that we are safe when in difficult areas.

I still work a day job, at a school. There have been instances of people being shot while working schools, but I don't quit my job. I just have to be safer and more vigilant. This story sounds like a sad message to that effect in real estate. 

My biggest violence issues have been with lower income tenants. I've been physically threatened, but never attacked. Good property Management strategies will drastically reduce the likelihood of having those kinds of issues with tenants though.

Even when renting, people regard the property is their home. Emotions can run high.