All Forum Posts by: Igor Gajic

@Danny Mak

Danny my man congrats on the property. I know you set the rehab costs at 10-15k... but it will always( 99% )of the time be way higher. I hope those aren't conservative numbers. I learned that the hardway. Haha

But anyway, do as much work as you can yourself... paint and other cosmetic stuff is easy ..BUT if you have the cash on hand i would get a couple quotes and get a contractor and LEARN FROM THEM. Also, start building a relationship with them because you will always need one if you want to scale... trust me. You'll also need to get to know plumbers, electricians and hvac guys.

Also, the most important thing i can tell you is treat it as a business and ABSOLUTELY ZERO EMOTIONS ATTACHED TO THE PROPERTY. Good luck and keep pushing!!

Nice Michael, phenomenal job on breaking this project down step by step. You're making it look to easy.

What are the yearly property taxes ? Average sewer and water bill ? Leases are for how long 6 months or yearly ?

Nice job .. and $3000 ... just wait till you get yourself a wifey hahahah..... jk ! Congrats!

Think of it this way ... would the bank forgive a late payment on your mortgage ?! ....

The only advice I can give is to go out there and get really familiar with the market, start looking at properties, analyze them and play around with numbers you'll be surprised how much you will learn. Also, network.. network.. network get to know as many people that do the same thing that you want to do. And when you're finally ready to buy go out there and start putting in offers.. and remember put in offers based on the numbers that work for you!! Good luck and remember we where all in your shoes at one point ... just be disciplined and be consistent :)

Nice ! Congrats

Brother you can read all the books and watch all the educational videos and read about the markets etc ... it's not going to click that way... you need to go get involved in the dirty work and what you need to do is simple ... you have to go out and physically start looking at properties and look at every single property AS MANY AS YOU CAN ... it doesn't matter if it's a duplex triplex or even 10 unit apartment complexes ... TRUST ME and everything will start clicking and making sense! Good luck !

"REAL ESTATE IS LIKE CRACK" very true words haha! Nice congratulations!

Yess be careful brother... and do your due diligence.... screen your tenants... better safe than dealing with evictions. There's a lot of ways you can verify employment. If you haven't made one .. than I would make on RENTAL APPLICATION.. Have them fill out a rental application... Ask for previous rental history... ask them for some personal information to conduct their background and credit check etc ! I would spend my whatever hours to make sure you have the best tenant possible than dealing with the eviction process ... good luck ! Screen screen screen screen your tenants .