All Forum Posts by: Anna Laud

It is important to have DEEP gratitude, your life was Beverly Hills compared to nearly every human on the planet right now and definitely those that are dead.  Just think of those people innocent people in Iraq who you traveled half way around the world to kill.  Their lives and country are still in ruin.  It is all perspective.

If somebody or ANYBODY (with few exceptions like those with mental/physical disabilities, etc.) is broke in America it is because they don't truly appreciate what we have here.  If you are lucky enough to read this then you are one of the lucky, chose few who won the lottery at BIRTH.  

Focus on that gift, the reason why all these foreigners come here and CRUSH IT is because they get it they see America as we all should a golden palace where how far you go in life is only dependent on your work ethic.  You are one of the luckiest people to ever life, what will you do with this gift?

Thanks @Keleisha Carter!

If you don't have a manager or investor I would partner with somebody because I can't tell you how many times a deal looked so hot on paper and then once we actually got into it everything changes.  A handyman being a day late can cost you 10k for example.  A local investor or manager will know this.

One of my best people is a nearly retired IPD (Indy Police Department) cop and he knows the areas, the people, etc.  It is expensive but like anything if they're worth they more than pay for themselves.  It is a good way to get better labor, prices, tenants and problems-disappear before they start if you park a cop car in front of your units LOL.

Sometimes fishing on the MLS can make you a few hundred an hour while you're learning too because the investor can pay you an assignment for finder fee while you get to look over their shoulder. Hope that helps! = )

@Account Closed  Thanks!  

Yes I have an investor group that pays us to do the searches for them but we have been paying somebody else to as well lol.  I do like the screening process with tenants and buyers it is fun to meet new ppl.  Thanks again Sue!  = )

@Account Closed  What service did you use or recommend now?  I think you were my FIRST upvote THANKS SO MUCH!  = )

I've had it take longer too, sometimes they can use a free site like Credit Karma to clear it up I've seen that the credit agencies get confused with a middle initial, street address that may have two different spellings or is two words sometimes and one or three words others times, etc.  They can make a note on the credit file and sometimes it can speed things up.

Is anybody pulling full credit and background reports themselves from a place they suggest?

Looks like you would need $42,860 right?  I don't see the $41,648.  This is your first deal?  You may want a partner as we've done deals out there and some of the numbers are razor thin with margins.  Or it could be a high cash flow rental if that's what you also want.  What are you current goals?  Do you have access to regular deals like this?  Those factors play a big role.  

I would make friends and help them first. Then get deals doing, even if you just volunteer and don't get paid at least you know you have the right idea. Then you can do the LLC approach. I made a video about this a while back maybe it can help if you want I can make another to answer specifics about your situation:

Hope this helps:

We usually ask for all three and then as a favor POSSIBLY waive it as a gesture of Goodwill.

Some tenants are great you want them forever so treat them like it, some are the opposite treat them like it LOL.  No we should treat everybody good, just the good ones the best.  I always tell my tenants that I'm building a relationship for years, decades even so it helps set the tone.  

Hope that helps Sara!  = )

I had a deal kind of like that and they wanted to get full info on the tenant and asked if I could get them to sign a new, "stronger" agreement and after the background check it went on fine.  I would look at their job history, income, credit, reason for renting, etc.  This added a month to close just fyi so if you have a buyer or investor you may want to brace them for that lol.  Hope that helps. 

Hi Summer,

I think I'll make a video to answer your question too but here's the quick scoop:

1.) Yes the 1% is the VALUE of the property not what you paid, so on a $100k house if it was a 1% it would be $1,000 a month rent.

2.) 1% houses are usually only going to be in the 100k-250k range because like you said you'll not likely find a 300k house that NORMALLY rents for 3k let alone a 500k house that rents for 1%.

3.) There are also 2% houses I do a lot of deals with them they are usually in the Midwest and ONLY in certain places like in Indy around the State Fairgrounds you can look on Zillow and see what I mean you'll see 30k houses renting for $600/mo the price is usually 30k-40k because you won't find many 50k houses renting for $1k but you WILL find 40k houses renting for 800/mo.

Usually your expenses will be half the cash flow, so if you get $1,000 a month it will cost for the first 3-5 years about $500 in various repairs, BS with tenants, etc. 

I can show you some more examples of deals I'm doing now that are 2% deals, 1% deals and .5% deals (the lower that number the better the area usually) if it will help you or somebody else.  

Hope that helps.  Thanks!  = )