All Forum Posts by: Janet Leary

Hi Mark,

Thanks for the the info. Yes, there are tenants paying the $700/mo. rent.

A friend and long-time investor offered to sell rental house in Marlin, Texas to me. He will arrange to have his long time property manager manage it for me for $50/month. We both live in Los Angeles. This would me my first deal. The price is $60,000, the rent is $700. He said he gets 14% ROI. What sort of information/paperwork should I ask from him to help me decide if I want to do this?

A friend and long-time investor offered to sell rental house in Marlin, Texas to me. He will arrange to have his long time property manager manage it for me for $50/month. We both live in Los Angeles. This would me my first deal. The price is $60,000, the rent is $700. He said he gets 14% ROI. What sort of information/paperwork should I ask from him to help me decide if I want to do this?

Adam Christopher College Professor from Kauai, HI

@Adam Christopher Zaleski 

Hi Adam, 

I see you have college properties in Colorado and Florida. I am looking at a college rental property in Oklahoma. I live in California. How do you handle property management?

Hi Abou, I'm new on here and to RE investing but I found when I want to know something I can search it on BP here. You can put "finding RE lawyer" up in the search field on Biggerpockets here and read the posts. Good luck.

Hi Frankie, I just started getting educated about real estate also when I found Bigger Pockets a few weeks ago. What has helped me the most is daily listening to BP podcasts and some other RE podcasts as well. I read the blogs and the forums like you found here. I read Brandon Turner's book Rental Property Investing because I thought rental properties was where I wanted to start. Now I am interested in wholesaling because you don't have to have much money to start. The best thing is to read up on the different RE strategies like buying rentals, wholesaling, or flipping properties. There are other things you can do but the main thing is to get informed and to ask questions. Plus get to know successful RE investors where you live. Find investor meetings in your area so you could find mentors to help you along. Good Luck. Welcome to Bigger Pockets.

Hi to fellow California Out of State Investors from Sherman Oaks,

I think it is definitely well worth the time and money for out-of-state investors to fly out to markets where they are looking to purchase, turnkey or not. I am new and have yet to do my first deal but what seems clear to me is that success in this business is about relationships with people. The more you know about a market and the people you network with the better informed your decisions will be.

Happy investing!