All Forum Posts by: Jason Kern

I just let myself become obsessed with the BP podcasts. You can listen on the commute or a walk, etc. Speed 'em up, slow 'em down and listen over and over when you find something that resonates. That was 5 years ago and I've got several properties. There's a TON of good information in them. 

Hey Dalton, I'm a long time broker and investor. Angela (above makes some great points). I'd suggest getting a license, hang the license with an agency, and get a mentor before you quit the JOB and spend money on website, etc. If you find someone who's willing to teach you the ropes it's gold. You'll know when/where to spend your marketing dollars with the right guidance. 

Hey Kristen, I'm reading through these thoughtful replies. There are some great insights here. One thing that comes to mind (and I **try** to set this boundary) is that I'm not for everyone. Consider the 80/20 rule - 80% of your income is from 20% of your clients. On the other side of this - 80% of your headache comes from 20% of your clients too. Imagine if you were able to take the energy you're using to keep this guy's business and focus it on the 20% of people in your portfolio who love your work! Easier said than done but your questions indicates that there are people who are HAPPY to pay for your service. If you're scrapping for percentage points on your paycheck from someone who will never appreciate your talent you're losing other opportunities (and sleep). 

Also, when this client gets burned out from doing all the work himself you can have the clients who love you buy the properties from him. HA!

Hi Chris, I've had this mental conversation as well. I've come to the conclusion that Dave Ramsey (pompus as he can be) is right and it's a great fit for **some people**. I've pointed several relatives to his books and podcasts. 

BUT, he's not resonating with people who are looking to do what investors on this site do. For example, consider the difference between the words "debt" and "leverage". Each has mechanical advantage either for you or against you. The methods that have been proven over and over with people on this site are clear. It's methodical, strategic and sequential. However, it doesn't come risk free. So, calculate the risk and know you're going to have some challenges/lessons but push forward. 

Hi Zachary, good to see you on BP. I'm a broker out of Falmouth and I own several properties in Maine and elsewhere. You'll find some great resources here on BP.

Hey Saad, 

What's your mission? I'm almost always looking at cashflow so I'll analyze to see if it's going to make money monthly. Use one of the calculators on this site to see if you'll make money as it sits. Then see if there are some improvements you can make over time to increase the rents. I'm happy to walk you through it if you want to PM me. 

Jason

Hey Pamela, In my experience a good property manager is worth their weight in gold. It's a skillset that I don't have and won't buy a property that can't afford to pay them. I've heard, and believe, that most of the people who burn out on owning real estate are self managing. It takes me a little longer to find the right deal but it's been worth it every time. Someone with experience to mentor you through the tough parts helps you learn and not get fried. I started with my PM at 9% but have several properties with them so pay 7%. 

Hi Charmaine, Did you ever get rolling with this idea?

I've been an agent/broker for many many years and it's got some plusses and minuses. On the plus side, you see more deals by default and you  also learn the transaction process first hand. There are some nuances that you see first hand that can be useful experience. On the down side, you're typically taught to follow a very specific path to 'build a business' based on transaction volume. If you're looking to own your own projects (flip or buy/hold), my experience has been that having a license and a managing broker can limit some of your options. It's an additional point of negotiation. If you go this route, I'd do the homework on managing brokers and their teams and find a good mentor who owns their own properties. 

Might be worth the upfront expense of separate metering. Know a good contractor who can give you an estimate of cost?