All Forum Posts by: Eric H.

@Kimani Kironji Greetings,

In my jurisdiction if you do not pay taxes on a property you risk the chance of losing the property to tax foreclosure.

@Bryce Nerland Greetings,

Not exactly what you were looking for but a few with similar topics:

https://www.biggerpockets.com/renewsblog/2016/05/05/sense-pay-properties/

https://www.biggerpockets.com/renewsblog/2015/04/08/buy-several-cheap-or-a-few-pricier-houses-investors-analysis/

https://www.biggerpockets.com/renewsblog/2015/09/10/cash-purchases-real-estate/

Hope this helps. Peace!

@Kevin Medford Greetings and welcome to BP.

You can check the FilePlace for a contract. Always have contracts reviewed by a local attorney.

Peace!

@Jay Helms Greetings,

I don't exactly fit your criteria but I do self manage and I am a subcontractor for large PM company. But I think pride of ownership is human nature. I think you may find a PM (from what I hear they are pretty hard to find) that may come close but will never meet or exceed your standards of 'care'. What has been your experience?

@Thomas T. Greetings,

You have to first develop a criteria that will include type of house (condo, colonial, detached townhome), bed/bath count, year built, price range, etc. Next shrink your target market. Include one city or one county or a few zip codes. Understanding ARV may take a little time and it changes as the market changes that is why you must always keep a close eye on market conditions. You can look at past sales in your target market (no more than 6 months back, in a .25 mile radius) and I would suggest tracking current prices as well. Identify a few rehabs that are ‘active' and watch them. Identify how long they take to sell and for how much. If they have any open houses go to them. For someone without MLS access, I highly recommend Redfin. A book that offers great insight into these first few critical steps is Millionaire Real Estate Investor. Finally, identify some local REIAs and start networking with local investors.

Hope this helps! Peace!

@Yuriy Muzyka Greetings,

Just based off the two choices you gave I would say option 1. Be patient. While waiting, save and learn. Job search and house search simultaneously and try your VERY best to live near your work. This will allow you to save even more as your commuting costs will be inexpensive.

Keep us posted on your progress. Peace!

Great morning @Roger S.,

My favorite tools are very basic.

1. Headlamp flashlight: definitely great for HVAC work, and plumbing work (underneath sinks)

2. Gloves: Self explanatory

3. Multimeter: Probably my best friend. I can troubleshoot any electrical problem with it.

@Joe Prenger Greetings,

Your question is pretty vague but if you use the search bar at the top right corner of this page you will find a ton of information on all aspects of direct mail. I would suggest reading some blog posts/articles, digging through the forums, and listening to some of the podcasts in which guests specifically talk about direct mail marketing.

Happy investing! Peace!

@Brian Zaug I use PayNearMe. Tenants can pay at local 7Eleven or CVS. Downside is I don't get funds until the tenth of the month from PayNearMe. If I want to make a withdrawal any other time it costs $25. I don't mind it though because it sure beats having to pick up rent as before I was doing the same thing you are doing. It costs nothing to set up the PayNearMe account. It costs the tenant $5 to make a payment.

@Justin Sheley Are you refinancing  using that same commercial lender you used to purchase? Are you refinancing into 30 year mortgages or using the 5yr arm product? If you are using the 5 yr arm, what is your plan in 5 years?