All Forum Posts by: James Thomas Nakashian

@Yinna Wang Your talking about $150. If these are good tenants and they pay on time. Then paying for this SMALL problem as long as it is a small problem, could potentially make your tenant happy and pay back ten fold to you in the long run. PLUS it is part of your structure.

 @Matt Steele Yes absolutely you should require that they clean up their area of living. I would just legally add an addendum to the lease stating so.

@Casey Tyler You can borrow from friends, family, close relatives. I don't know your situation, in that respect how easy it would be for you to get a credit line. But best and easiest way would be from friends, family, close relatives. It gives you more options on how to pay them back as well. You could pay them back once you sell the house, or give them a percentage of the deal so they make their money back and then some.  

@Travis Stafford To me it doesn't make sense to sell you properties take you profit and rent a apartment to "save" because then technically your spending money on rent, utilities, etc. I would try to find a duplex or triplex.  Live in one of the apartments. Rent the other two out so you can most likely live for free or for very little, while building equity and positive cash flow.  Otherwise, it just seems like you are defeating the purpose of what you are trying to accomplish.

Michaela G. I love the outlook, people talk about having 100 doors. I believe theres a happy medium to achieving to what works FOR YOU! Life is way to short! I lost my cousin a year and half ago who was 20 YEARS OLD! You never know whats going to happen or when. I would rather have 15 units live comfortably with the ability to spend time with my loved ones and LIVE LIFE while creating income. Mike Dymski Brie Schmidt Derek E. You guys are so right too! You guys look like your killing it in real estate! BEST OF LUCK!

@John S Lewis You definitely want to find a real estate agent. One that you vibe well with, and that you mesh with personality wise. It will help you build a good working relationship so that you can create goals that are similar. I would say one of the best ways to find a good one is reach out to all your friends, family and close relatives to see if they know anyone in the field that they have either used or they trust to get the job done. Going on craigslist or calling some local agents doesn't mean they aren't good, but there is no reputable source to say they are good at what they do or not. @Natalie Schanne had good ideas above as well.

Hey @Account Closed it seems that we are from the same area. Good to see other people from the area on BP too. This area is a tough market. What I did was I got my father (partner) to help me out. The market its self is expensive. Some advice would be to work as much and save as much as you can until you can afford a down payment where you would be able at that time hopefully to get a mortgage or loan for the rest. Thats what I am trying to do right now. If you haven't established credit yet I would definitely try to get a credit card to start establishing credit to get ahead of the game for when the time is right. Another thing I would to is try to find some the works in construction or anything to learn the in's and out's of the "Do it your self work" so when the time comes you don't have to pay for it yourself. Just some tips to maybe save some money down the road.

@John Park SAVE IT AS RESERVES! You never know when anything is going to happen always want to have backup. Its always there if you need it. Just let it keep building. When the times right put it into another property when u have enough to still have reserves.

@Michael Gessner I don't know if the bank takes owner ship or it was left to the cousins. But I would do exactly that! I would try to contact the family first so you don't step on any toes. But I would try and see if you can catch the deal before it hits the market and maybe you can help those cousins in the west by taking it off their hands right now. We just kind of did a similar thing with two of our neighbors in the past few months. That's what wee did we reached out to the family.

@Lisa Marie  I think you have been giving him plenty of chances and he clearly doesn't respect you or your friendship enough to understand that you are running a business. Because from what it sounds like is that you have been a VERY good friend by allowing this for to long and he has been just been absent minded with his choices. Did you also have it written in a contract? Stating what needed to be done because that could have been a factor as well. So you don't ruin the relationship because I'm assuming you still want to be friends with him. Be firm but still act as his friend to get him to understand that this cannot continue and he needs to move out by a certain time frame and you are seeking a new roommate.  Like what @Brian Schmelzlen said.