All Forum Posts by: Elizabeth Colegrove

Great to meet you!

You are in a great place to learn. We bought our first buy and hold as a personal property. Many people do house hacking (we did that with a rental when we first got married). Others get a multiplex. This is a great way to learn and figure out the way you want to buy your first property. It sounds like you are getting started with stocks which will help with that down payment depending not eh way you decide to go! 

Look forward to seeing you around!

Could you offer to do the cosmetic issues if the rents are raised to fair market value? For example, that you are willing to replace, X, y or Z but rent will be X. That way those who want the nicer conditions, choose the higher price and those who don't, get the price decrease. It's fair, and people can choose?

Everyone has their own opinion. We own 8 rentals. I personally buy in psychologically depressed areas, that I see value and other's don't. While I try REALLY hard to get a great deal on the purchase alot of time it has been an at market or close. Yet a couple of year later when what I saw is realized, there is tons of value in my properties. In between that it was the cash flow that covered all of our expenses and my primary plan if it didn't work it out. 

These are fully furnished rentals that are rented by corporations for there employees while they are on a job. I have actually had great luck so far. We have been doing insurance claims before for the last 10 months or so. Yes we have had a few moments but predominantly its been fine and the money is amazing. I havent found it to be more of an issue  than tradional tenants.

We added no new assets just working with what I already had. I increased rents on houses since our markets went up significantly. In addition, i turned two houses into corporate/furnished rentals.

I have exceed my salary and rental income combined. 

.............. We are officially making more money than when I was working a "butt job"

When I left my job April 1st, 2016, our rentals made $1,877.86 a month. 8 weeks later we make $5,304.07. We have not only exceed my take home income of $3,400 but also what we were making combined. 

Here's the thing, I didn't leave voluntarily, my husband is active duty military and was transferred. I worked up to the day I we left because I was terrified where our investments will go. Than i seized the day, I tried out furnished rentals on two of our houses (HUGE impact on why we are successful) and so successful we will be doing it to 2 more houses), raised rents during natural tenant turn over (from 1250 to 1450), and so on. 

Seize the day, TRY new things, be adventurous and don't turn down new opportunities, because they are new. Turn them down because they don't WORK for YOUR vision!

We are slowly turning our Hanford houses into furnished and vacation rentals. We are looking for a new insurance company who will write policies that cover these activities. Any recommendations?

Great to connect! I am a buy and hold investor. We got started using the VA loan. When the navy transferred us we rented the house out. There are lots of ways to get started with little to no money down. Look forward to seeing you around.

I just turned down a eviction from 10 years ago. I don't do eviction ;) Especially when they are trying to tell me they are the perfect tenant and should get exceptions. Also for a high end rental.

Cannot wait!!! Super stoked to both speak and attend!