All Forum Posts by: Dee Tatum

1) As a beginner, The Millionaire Real Estate Investor by: Gary Keller, Dave Jenks, Jay Papasan is my favorite right now.  As it is a great "How to" on what to do and why.

2) My favorite book that is not is the Bible is a series of books, of which only two have been released: The Rational Bible: Genesis & The Rational Bible: Exodus both are by Dennis Prager.  The commentaries on each of these two books are phenominal and provide great insight into the thoughts and ideas that may have been lost in translation or failed to have been communicated in Sunday school.  For example, something simple as in The Rational Bible: Exodus, Mr. Prager outlines how is the 10 commands, "Thou shall not kill" is a mistatment as the true commandment states, "Thou shall not murder."  This insight amazed me, because as I originally read the commandment and continued reading, it was not long after receiving the 10 commandments that I read how killing ensued when the Sabbath day was violated with work and then the fall of Jericho.  All that said, these commentaries are awesome.

3) Hobbies for me consist of playing board games with the family and playing flag football.

4) As one who has yet to make my first transaction, I will say failing to start.  Allowing fear to overcome all the work you have done in preparing to make your first deal.

That said, we will have our first two deals by this time next year.

God Bless and thank you.

1) What is your favorite real estate-related book?

2) What is your favorite business book?

3) What are your hobbies?

4) What do you believe sets apart successful real estate investors from all those who give up, fail, or never get started?

@Account Closed I dig that "PET FRIENDLY" tip.  That is legit.  I just finished listening to BiggerPockets Real Estate Podcast show 78 and Brie Schmidt made a similar point regarding renting to pet owners.  Additionally, she stated when they find a place that is "Pet friendly" they tend to stay longer because it is uncommon in the rental market.

@Nathaniel Hermann  Oooooo!  Now that's a gem!  And it is much appreciated.  I will remember this one as I move forward.

@Peter Tverdov thank you for the nugget on pet screening.  I had not heard of this service at all. @Justin Fox, lol, thanks. I wondered how the duration of a tenant's stay might decrease the value of the deposit and how that can be balanced out.  Good info folks, thank you for you time and help.

@Will Fraser thanks for the information and for taking the time to help me.

I am considering renting to pet owners. Are pet fees collected monthly, if so, what percentage of the rent should I charge?  

Good evening @Bola A.,

Let me start of by saying, I am brand new at Real Estate Investing, and have been doing intensive research for the past month.  Prior to this past month, I had a surface level interest in R.E.I. and mostly focused on Financial Wellness as a whole.  

That said, I, too, am researching FIG.  I have read all the reviews offered by google, they are all 5 star.  I have watched all of the testimonials and some of the webinars posted on FIG's website.  I have looked through each of FIG's projects, completed, in progress, and future projects.  I have read through every pro-forma provided by FIG for each respective project.  I will qualify that last statement with this, I am still learning how to translate proforma into English. 

Additionally, I have search Bigger Pockets in search of as much information as I might gather, and in doing so, I found this BP post https://www.biggerpockets.com/... which is quite telling.  Spoilers...I dig the response from all parties, especially the owner (of FIG).  Finally, I have been in contact with Steve Olson, FIG National Director of Sales, who I am set to chat with later this week.  He has been prompt in his responses and patient thus far.  As I learn more I will share with you, if you care for me to do so.  

Hope this helps.

God Bless.

Good evening Mr. Gooden.  I, too, am just beginning the process.  Though I do not have a ton of experience in this field from which to draw, I have picked up a few things from B.P. and the B.P. podcast.  One of those things is that when seeking a mentor bring value to the relationship.  Value can range from something as large as a deal to a cup of coffee and an eagerness to learn.  Those that have walked the path you and I are currently beginning are eager to share what they know.  If you do not find a mentor from this post try a key word search for property management companies in your area and contact them directly with the above request paired with a box of donuts and a some coffee when you meet them at their office.  The fact that you offered to shadow your mentor is awesome, and will be even more awesome should you offer a service they may lack.  Identify your strength, be it web design, hustle, capital, connection, or what have you and pair that with your eagerness to model their success.  I wish you well and look forward to hearing of your success as you continue to post on B.P.  God Bless.

Hello Mr. Puentes,

A few things you need to be sure to cover, I have learned, when structuring a partnership are:

The 6 "D's" When It Comes To Partnership Agreements

• Death. Your partnership should address what happens if one of you dies.
• Disability. Your partnership should address what happens if one of you becomes disabled. 
• Divorce. Your partnership should address what happens if one of you gets divorced.  Does the ex-spouse have claim to the business?
  
• Disinterest. Your partnership should address what happens if one of you becomes disinterested with the business.

I am drawing a blank on the others but will get back to you when I think of them.  Take care and God Bless.