All Forum Posts by: Frank Geiger

Start with a vision, back plan from there, and go execute. Find out the little details that make up a task and just start checking them off. Once you see the path, all you have to do is follow it.

Wow! If you can handle this on your first investment, you can definitely handle most challenges you'll come across. Well done!

https://smartasset.com/mortgag...

You don't have to. The internet will do it for you.

First of all congrats on breaking up the analysis paralysis! I know that can be hard to do. Few points:

Use the calculator on this site and share it. It's easier to follow.

Hopefully you are calculating mortgage insurance with your 5% down. 

10% for maintenance and repairs isn't going to cut it

What about property management and other expenses?

Can you find a way to put a little sweat equity into the units to increase the rents like the $800 one?

If this is in a bad area, you may want to budget for extra repairs, evictions, etc

Definitely try to stay away from carpet or you will end up changing it out every other tenant. Tenants are rough on houses so get bomb proof stuff if you can.

Something I read to save on materials is: buying coupons for 20% online before making a big purchase. I thought it was a cool idea but haven't actually implemented it yet. Buying like items in bulk can save tons. Good luck moving forward!

Wake up at 4:45 am and stumble out the door to try to make it to my Army workout on time. I am most productive at night and get a lot done after 8 pm.

Increase your leads and talk to lenders. After that, start networking with contractors. But you need to start by getting as many leads in your inbox possible.

We use Property Management. If you have a difficult tenant, are you willing to drive that distance weekly to get rent, post notices, etc? It's not always the easy, "sit back and collect rent checks" that everyone says. It depends on the area. With a good tenant, it make be a once or twice a year trip. Hard to know. 

You can find out almost everything for free these days on YouTube. I have watched hundreds of videos on there on building a business. Maybe you'd get more feedback if you are more specific.

Got an appliance diagnosed for $90 one time. Took the dude about 10 minutes...