All Forum Posts by: Jen Shrock

I am NOT a computer geek at all and, for something completely different, I ended up in a situation (due to a conversation with a reporter and a chance for a free plug) in which I had to "learn" the best I could and all on my own about web hosting and website building.  The kicker was, I had 1 day to get everything in place to make it all happen.  Needless to say, with a lot of determination, much muttering under my breath, and a lot of "what the heck were you thinking" comments running through my mind, I managed to pull it off.  I found a Wordpress template that I liked and got signed up for web hosting through GoDaddy (they were exceptionally patient and helpful with me in getting it set up) and all is at a much cheaper price than what you are being quoted.  I have learned how to make basic adjustments to my site and don't worry about all of the lead tracking stuff.  I can't remember what it is called, but I went with the slightly more expensive web hosting option with GoDaddy and they actually manage the updates on my Wordpress site (you know, the technical kind that just get pushed through automatically by the sites) so I don't have to be a Geek and know it all.  It has been a KISS method that has worked out really well for me and kept me from screwing things up, which I am sure would have happened if I would have tried to have been more Geek like in my approach.  It's amazing what you can accomplish when under a massive time constraint.

Just do it!! Trust me, if I managed, you will be just fine.  You just have to get over the fear and give it a whirl.  I have full confidence that you can figure it out.

My question to you would be, where has the maintenance money that should have been being set aside from the monthly rent gone?

I would think that the ultimate answer to your question lies in your investment strategies and goals. If your interest is in buying properties and taking all of the income out of them without accounting for maintaining them, in time you might not gain the most favorable reputation with renters and you wind up selling the properties at a discount because of the work thatneedsdone to them at the time of sale.  If you are in it for the long haul of wealth building, then the answer is definitely fix what deferred maintenance needs fixed and keep it, this time setting aside maintenance funds each month for the future.

Thanks for the breakdown @Brandon Hall.  It will certainly be useful.  I am a learn by doing type of person myself.  Just need to get over the newbie jitters a bit by running some preliminary "deals".

The Brandon Hall that I was referring to is an accountant in Washington D.C.  I don't have him as a colleague or it would have linked to him.  I just have him saved as someone I follow.

He just posted a user blog today about "The Importance of Reserve Accounts (Or What a Surprise Roof Replacement Taught Me)

One thing that I have found helpful on this site, as a newbie myself, is to read posts and blogs of @Brandon Hall.  He does a very good job of explaining the topics that he covers cleary, thoroughy and in an understandble way.

Sounds a little like he wants to do a reverse mortgage type of deal.

Why not a light tan?  I am not, myself, sure about gray with it.

Great job!  Thanks for sharing your project which can truely be an inspiration (and kick in the pants to get started) to others.

If they are a licensed Realtor, turn them in to the National Association of Realtors.  They have ethics and rules they are bound by.  Then go find someone that wants to actually do their job.

I used to be a licensed Realtor in Pennsylvania and you had to disclose if you were a Realtor on a deal.  I believe it was a part of the national Realtor standards (don't quote me on that).  If I remember correctly it was because one could be perceived as having an advantage by being a Realtor with knowledge, acess to inventory, pricing, etc.  It was more of a legal protection thing so that someone could not come back and try to sue you for having an "unfair" advantage.  If it is made known and they sign the paperwork then they can't say they didn't know.  Most people didn't seem to have a problem with it.  If you are presenting your offer to someone and let them know you are an investor and this is why your offer is what it is, is that any different really?