All Forum Posts by: Account Closed

Carl Carlson buying directly next to your current investment is nice but it sounds like the house down the way for 130k could be the better deal. You'll have less into it to start and also a better margin and it is still close by.

Ryan Haase making an offer contingent on inspection is sometimes preferred for sellers who have investment property who wants to sell it turn key to another investor. Having to pay upfront for an option however I haven't heard of before. I know there are inconveniences to the tenants and so the seller is probably trying to discourage the tire kickers. The seller probably wants you to have your financing planned out and do some due diligence prior to seeing the property.

1) It is very difficult to start in real estate from scratch.

2.) College degree is not needed to be a real estate agent, but if you ever want to do "something else" then a college degree that supports that field will help. 

3.) Money made depends on your success, but expect 20-30K a year starting out.

There is a very high dropout rate for agents. While it is a hard field, it is not unachievable, but you do want to have goals and a vision before proceeding onward. Others in the field will not tell you it is difficult to scare you out of the field. They will do it to be truthful with you so that you understand that going in and aren't surprised later on. Its better to know it up front.

Absolutely. Good clear photos are one of the keys to getting not only good rental showings but also higher rents. Of course you have to have a nice clean rental to take a picture of in order for the pictures to work. A beautiful picture of a rundown shack is only half the equation. Cleaning out the unit, renovating it, then taking good pictures all work together to attract the quality tenants that are looking for a quality rental. I think good pictures give you higher rents because you fill the vacancy faster and don't have to lower the rent. If you don't agree then post a unfocused picture of the house with your finger over half the lens for kicks and see what response you get and then report back.

Hello @James Zhang and welcome to BP! BP is the place to go to, to have your questions answered from those in the field. As far as turnkey investments you can probably find them anywhere with a good team behind you. I know New York prices are higher than many other places elsewhere, so looking for a cheaper investment area would be a good start.

@Kyle M.  Even if they don't look as good, the materials are still the same, which is about the most durable kind you can get. Like Stephanie said, your goal should be to tie the beige in with the walls and make it look good. Choosing a shower curtain that ties it in too could help. The grayish colored wall is an odd combination. I'm really bad at color picking colors, so I just stick to antique-white. Not sure how that would look. Perhaps if you really wanted to do something you may could paint the sink cabinet to match with the tub, but all in all I still think you have a great rentable bathroom as is.

Don't want to be negative, but the pictures could use improvement. The front picture has a rotten stump in the yard. The yard is overgrown. What appears to be a water heater tank is in the yard. The pictures are grainy. To start, improve the pictures. Perhaps you can pay someone to take some quality pictures for you since you aren't local. Tho photos are the first impressions for your tenants. If choosing a property management company then you will want to look at their pictures of their currently listed properties and see how they compare.

Posting some pictures of your pictures used for marketing could help. Usually there is a reason why your rental isn't renting. Also, expounding on "third property management company" would help. What happen to the first two?

I personally think that the bathroom looks great. Not only are the colors neutral, but they will likely hold up for years to come. The only thing that caught my eye is the white caulk. Perhaps using a matching beige caulk would not have been so tacky. As Laura Williams said, clean is the way to go and the way it is now, it will be easy to keep clean during turnover. While reglazing it is an option, I would reserve that only for the pink, green, and blue colored tiles.

TrafficMASTER allure vinyl plank flooring. Here is the homedepot details on it. It looks great, is durable, and is super easy to install. Price is fairly cheap too. I use some tin snips to cut the pieces and it makes the job much easier than using a razor knife. : TrafficMASTER Allure Cherry Resilient Vinyl Plank Flooring.

BP forums have much more on the topic.