All Forum Posts by: Julia Rowling

@Ben Leybovich   With all due respect, Ben, you are beginning to sound a little like those "know it all" gurus Josh and Brandon keep warning us newbies about.  I think it's important to share your experiences so that others can learn from them - but keep in mind you don't have ALL the answers to ALL the questions.  For every investor, such as yourself, who's had a tough time with lower-income tenants, there's another who is doing great in that market. And not just in the short term.  

@Mike Verrona   LOL! Of course!  

@Rita Droz  - Could you refinance your residential property, take out some of that equity and apply that to your multi-family...as opposed to sell it?

@Nancy L.  I remember hearing on one of the BP podcasts someone mentioning that they like to check not only the applicant's current landlord, but also their previous one.  This is because the current landlord might say anything to get rid of them, so you are more likely to get accurate information from someone who doesn't have a vested interest in just getting rid of an unwanted tenant.

Also, an unplanned visit to the current address might yield some valuable insight into how they treat the property.

Remember the difference between and asset and a liability.  Assets earn you money.  Liabilities cost you money.  Many people buy a home for themselves thinking they are acquiring an asset, when in truth it is a liability.  See if you can find a way to make your home an asset - maybe by buying a duplex, living in one side and renting the other, or even renting rooms in your home.  Otherwise, try to rent something inexpensive so that you can save up money to invest in profit-making assets. Better yet, if you are living at home, suck it up a while longer, and pocket that $1500 you would be spending on rent.  Cash in the bank = freedom, my friend!!

P.S.  what is a paper-trail?

@Marylynn B.  - I stumbled across this thread and, first of all, let me say how sorry I am for your many losses.  It sounds like you wound up with a lot of real estate on your plate and many options to consider. I am intrigued to know how you're doing in your market research and what your current thinking is...

@Chesley Hutchinson - what Greenville neighborhoods are you investing in that are only yielding 1%?  Are those mainly A/B properties?

Walked my dog.  Coached a student.  Cleaned my house.  Did some laundry.  Got caught up on my emails.  Read the paper.  Surfed BP.  Listened to some NPR and New York Times Book Review podcasts (because I've now listened to ALL the BP podcasts).  Walked the dog again.  Worked out.  Took a shower.  Made dinner.

Dreamed of the day I will be financially free...

@Eric Giovannucci  I think I understand your trepidation...are you maybe a little on the shy side?  It can be intimidating putting yourself into a situation where you feel others are more expert than you and that you don't have much to offer.  My suggestion: DON"T OVERTHINK things!  Just go to a meeting.  Say hello to some people.  Sit down and listen to what is being said.  Don't feel you need to add to the conversation initially.  Get a feel for how things are run.  Go back to the next meeting.  Keep going back.  Eventually, people will see you are serious and dedicated.  You will begin to feel more comfortable.  Over time, you can begin to speak up and reach out to the others in the meetings.  Don't expect too much from yourself too soon.  Take it one step at a time.  

But just take that first step. 

Welcome, Alex!  I'm pretty new to BP myself - joined just a few months ago - but I've found it to be an amazing resource.  Loads of great information, experienced investors with great advice, and many resources.  I'd check out the podcasts if you haven't already.

Good luck in your endeavors!