All Forum Posts by: Jordan Page

“Invest in yourself” has always been something I’ve heard over and over and just went in one ear and out the other. Mostly because, what does that even mean? I listen to the pods, I read the books, I try my best to make it to events. What left is there to do?

After listening to Steve Rozenburg on BP and diving deeper into his content, it really opened my eyes to the fact that I have no idea how to run a business. Even though I only own one property, it is a business & I need to learn how to operate it in order to set myself up for success in the future. I’ve considered getting certified in property management to help myself learn some details of the business. (Who knows, maybe find job opportunities or landlords who need help managing along the way)

All that being said, what are some ways that a rental property investor can invest in himself? And what are some resources to learn the business operations that doesn’t include getting a “business degree”?

Big thanks to the legends that share their knowledge and experience on here every single day!

@Kimberly Kesterke I've been hearing this term more lately. I'm very new in the industry, just purchased my first property this year which is a nice enough SFH, in a nice enough area that anyone should feel comfortable living in. When I explain to friends and coworkers what it is I'm doing and my goals, they suggest Im pushing to be a slumlord, who cheats the tax system and makes life harder for everyone else. I've tried to explain that anyone in the room has the ability to save their money for a couple years, buy a property & then they can eventually take advantage of tax laws & incentives while creating wealth.

But... I’m a part of the problem you know.

@James Morin Hey man, ain’t nothing wrong with living for free!!

@Nathan Hui I don’t hate it

@Kevin Wilson yeah as long as you can work it into the deal and make sure you have solid inspector and an even more solid contractor, it could work for sure.

I haven’t quite made it to long distance real estate lol

@J Benoit This sounds great. I close on my first property on August 22, so it will be exciting to get some perspective and talk to other local investors.

@Fabio Campos I definitely wouldn’t let a hypothetical recession scare you away. Not to say there may not be one in the future, Idk.

As long as you are well within your means and not over leveraged, you should be fine. I would try to NOT use your entire savings though, definitely try to keep a small nest egg just incase any problems come up. Try to keep a couple/few months of PITI.

You got this!

@Michael Noto I would agree with that last statement. I’d rather negotiate a lower price and handle the repairs myself.

@Kevin Wilson the property I’m closing on next week was sold as-is with the understanding that they won’t be making any repairs. Came across a simple foundation issue that got quoted at 5K and needed some additional insulation in the attic with minor basic updating throughout. Offered 16K below asking, & got appraised at 25K above that. I’d call that a win.

As-is can be nice because it scares away all the competition right out of the gate. As long as you can offer far below repair cost and still have plenty of equity built in.

Good luck!!

@Amy H. Yeah that’s what I’m looking at now and a great point. The appliances I’m looking at from Home Depot right now are at like a 45% discount until tomorrow. $1,799 refrigerator for $997. The same fridge dented is only $100-150 cheaper than that, and doesn’t have a dented handle and giant scuff going down the side. So I feel like I might as well just look new.