All Forum Posts by: Eliott Elias

Let me make this simple for you.

Stick to long-term rentals. If your property does not cash flow with long-term rent rates, it is not a deal you want to buy right now. 

Pest control is a must when doing your rehabs and make readies. Bedbugs will put you in some serious trouble and will leave a bad stain in your mouth

If your deal only cash flows with a 3% interest-rate, you need to reconsider your investment strategy.

If your deal only cash flows with Airbnb, you need to reconsider your investment strategy.

Buying with a 20% cash on cash every month will keep you safe.

This dis-incentivizes investors even more to receive title insurance. I believe it should be split between buyer and seller in all cases.

It takes me 30 seconds to analyze a deal. ARV*.7 - Repairs.

I’ve learned that no matter what kind of stories tenants can come up with. Whether reasonable or not, it’s not worth the headache. It becomes yours.

You could take the risk, or, hold out for a tenant that looks good on paper.

You can use true people search (free) or any skip tracer. The more information you have, the more accurate the phone numbers will be.

Reliable and trustworthy do not belong in the same sentence with contractors. The sooner you realize this, the easier life will be.

Your first few properties need to be walked with your contractor. You won’t truly know what things will cost until you’ve done a few projects. Prices even change contractor per contractor.

You need to get to a point where you can analyze rehab costs yourself. Have your contractor walk your first few properties with you so you can get a good idea of things to look for, big ticket, items, and what things will cost.