All Forum Posts by: Jonathan Wilks

I would probably improve my credit and reduce the debt just so that i don't over leverage myself.  I would run a credit report on yourself to see what your credit report is. that would be beneficial in making your decision. 

First it would be a deal where you get a automatic partner that is also the managing partner. You better meet the guy and like working with him.  I would also want to know his exit plan for the property.  In addition i would want to know the reason the one partner wants out of the property.  In addition a fourplex i don't believe will be very profitable in a partnership. unless the property is paid off. I also question why the partner wouldn't buy out his partner.  

As far as your second question you need to look at gross rent gross profit and expenses taxes, insurance, and net profit.  You need to figure out what your cash on cash investment would be for your portion of the property.  I would also want to know the last time the units were updated, and if he has plans to update anytime soon. 

I hope that helps. 

This doesn't seem like it would be beneficial to you from a financial aspect. Its like assisting  a realtor to do their job. 

Need more information to respond.  If the hot tub is outside, and was apart of the  lease agreement that was signed and you advertised it. You should probably fix it in the least know the reason for it not working, so your tenants can see you care.  If the hot tub is a jacuzzi tub. You should fix it immediately.  Many times tenants just want to make sure you know about the issue. I would follow up to see what is wrong with the hot tub it could be something that cost very little. 

The nest fire alarms are pretty incredible. I haven't put them in my rental yet. I might possibly do it in my next rental. I like the fact you can connect via bluetooth, so they will alert the bedrooms if the kitchen is on fire and you are sleeping. In addition that they are also carbon monoxide alarms is also beneficial. 

The Tile just provides a wow factor that the 3 piece unit can not bring. I would highly recommend it especially when the things that have the greatest return are bathrooms and kitchens of any property. 

welcome Taro to BiggerPockets. 

Recently i have heard people using radar foreclosure and going to the addresses and knocking on doors, others are using handwritten yellow letters. The investment market is getting more difficult, but in the socal area opportunity will always be there. 

On my rentals i will pay for the rental insurance it usually cost me 40 a year, so its worth it for me to make sure it is always on the property. 

It's a risk you take, and the court process can take some time. If the tenant has a lawyer it will be an issue. However you could possibly pay cash for keys that would make it quicker for the tenant to leave. 

I would keep your job and start the process part-time.  In the mean time create a plan, and doing your own work on your properties is not profitable. When time is one of the most valuable aspects of flipping. IN flipping you need to be able to manage the project and pursue your next deal.  Once you are able to have several deals under your belt it will give you a better idea of being able to do this full-time.