All Forum Posts by: Stephanie Dupuis

I'm submitting an offer on a duplex. The roof will need replacement in the next couple years.

Do you any of you reduce the selling price to account for this? By how much? I was thinking of deducting half the cost of a new roof or more because the current roof will need new flashing around the chimney immediately (immediate expense) and then I'll only get may 1-2 years from the current roof.

Thanks for your thoughts and feedback.

Steph

bump

Done.

Hi Fei - I'm a Seattle refugee (omgosh the traffic!!). I'm living in Bremerton/Kitsap County now.

Welcome to BP and great to see you here!!

What's the benefit of using a LLC vs. Inc. (S Corp, etc.)? I'm completely ignorant with RE Agent thing here, so please be patient.

I assume a PMC will not be as competent as me (unfortunately) - however, the one I've hired does seem to be as responsive and trustworthy. Very happy about that. Only time will tell if they are as competent.

TBH, I think it will wash out being that the PMC I've hired is more competent in some areas and less competent in other areas. I've already learned some things from them and seen where I could have improved as LL. Sometimes I wonder if our desire to handle our own affairs (based on "our great level of competence") is misleading and arrogant. Let it go and watch it grow.

Welcome to BP, Richard!

What I did was join my local professional associations - both the rental assoc. and REI. Then I volunteered to help. You need to give first. Show that you are reliable and trustworthy over a long period of time. Be patient.

Very few people volunteer when needed. Be the first to raise your hand, put your name on a list. Make the time. If you won't make the time, why would a mentor? Eventually, a mentor will start to help you. But, it will happen slowly in all likelihood. Whe I was volunteering, I'd quickly ask a brief question (I'd make sure to not require much time from anyone) - this opened the door. Eventually, the comfort level increases between the two of you and you can offer to help with other things and experienced investors want to help - when the time is right, let them.

Oh, Jon. I send my condolences and I'm thankful you and your family are safe. Please know you have immense support here on BP.

@Jon Klaus - I had the same experience. A guy showed me the rule of 72 and explained it, I was maybe 20 yo - I haven't thought the same since.