All Forum Posts by: Denise Supplee

Hello @Arif K. I have been involved in property management as a Realtor, property manager and investor. I have seen both sides in this. I have learned, that you must investigate the company, ask questions and read all terms thoroughly. Additionally, in this day and age (wow, I am aging myself), just about everything can be automated. I found an awesome solution for my portfolio in Latchel. https://latchel.com/property-management-software-features/pr...  Check them out. I hope all works out for you!

Just make sure you look into all terms and conditions.. pre-payment penalties, and costs and fees involved. Weigh out the costs against the benefits. Take into consideration your needs. Are you looking to reduce your monthly? Are you needing to access equity? There may be other ways to handle it. Best of luck to you :)

It is important to weight it all out. For instance, househacking a tri or quad is a great way to build equity, gain experience and reduce your personal living costs. But there are some issues that can arise such as a problematic tenant (it is different when they are living next to you). Seek out possible mentors and/or partners who have experience. Consider investing in syndications through a coinvesting club. I have co-founded one and love investing that way. Much less aggravation and I can spread my money over many different vehicles, such as apartment communities, trailer parks, vacation communities, land flipping and so much more. Good luck and much success to you!

Have you considered investing with a club? I have cofounded with my partner, a coinvesting club. Most minimum investment is $5K per deal. And we invest in large apartment communities, land flipping deals, vacation properties, and even an industrial company. It is a great way to diversify your funds and it is passive. No repairs, no tenants, etc... 

Investing and managing properties for over 30 years, I can say that keeping to locations that are landlord friendly in regulations can be key! Years ago, I had a property in Philadelphia with a "professional tenant" (one who knows how to play the system) use the Philly departments and it took us over a year to remove her. It became a nightmare! Additionally, understand that when you invest in the lower B and C area's, not only do streets vary from one to another-but one can change rapidly. Good luck in your investment journey and wish you much success!

If you choose to move forward, make sure that you do all your due diligence. Get the mom to be a co-signor on the lease and be responsible for all lease terms and conditions. Make sure you conduct a thorough rental background check on the mother. 

I help family manage a property in Florida. The insurance costs have gone up ridiculously. And it is owned by a senior who depends on that money to pay for living expenses. It is really sad. I have been looking and checking out insurance agents all over and prices not much better - frustrating to say the least!

Welcome Seth! Very exciting! Also be sure to check the landlord tenant laws for the location you want to invest in. Having landlord friendly laws can be the make-it or break-it. Wishing you the best of success!

My son-in-law did this. He has construction experience. So, he partnered with someone who was the financier and he handled the hands-on work. He was able to not only get a return but it assisted him in moving forward on his own. Consider partnering with someone. Just be sure that you get all the legal ducks in a row. 

I would never put all my money in crypto! I will NEVER put my money in one place. Do I have some there? Yes! But diversification provides a bit of a safety net. And that means investing in stocks, bonds, real estate, crypto and precious metas. For me, investing in real estate has been very good, for the most part. Like many, I had some issues in 2008. I have created with my partner Brian the coinvesting club and participate in it as well. We have invested in large apartment communites, land, vacation resorts and even an industrial company. Looking into precious metals and who knows... maybe crypto will be on the horizon. Anyway, sorry for the rant... but I wholeheartedly believe you never invest all monies in one place..