All Forum Posts by: Taylor Reichert

@Jered Sturm @Austin Lee @Sharad M. @Arlan Potter @George P. @Rocky Vasquez @Michael Evans @Anil Samuel @Richard C. @Engelo Rumora @Rolanda Eldridge 

Thanks all for responding. I will save 100% cash flow and reinvesting like most of you. I like the idea of Freedom and want to hurry up and get there. 

George, I need more people like you in my circle. Its hard to get motivation from peers. It seems those who have never pursued real estate - or anything for that matter - push their negativity the hardest. I appreciate your little push!

Brandon Turner Thanks for the welcome!

Has anyone ever experience an agent showing signs of reluctancy? The home I am interested in is currently under a "first look" restriction that will be lifted in a couple of weeks. Maybe she's not motivated to work for such a low commission. Any ideas?

Hey guys. Cash flow. What do you do with it? I've been looking at rentals and getting the game plan together. I always assumed that cash flow would be saved to purchase the next rental. But it was suggested to me here on BP that a 10% management fee be figured in as an expense whether I managed or not. That got me thinking about actually spending money from rental revenue. Do you guys spend, save or reinvest?

@George Makakaufaki

Thanks George. This community is awesome. Great people.

I know exactly what your feeling. I don't doubt my ability to do work. But a full time job and a family can eat up your spare time - ironically the thing that attracts me to REI. I've been saving for a few years all the while thinking if only I had the money Id be on my way. Now when a deal comes around I feel terror. I believe the unknown if terrifying dangerous or benign. I don't have any real advice but "Life's a dance. You learn as you go". I wish you the best of luck.

So I called the city municipal and confirmed that water, sewer and trash are all together. I got a very different quote that the tax record showed. I was told previous residents have paid anywhere from $165-$211 bi-monthly(990-1266/yr)with $41.62 of that being trash. She told me they were going to change it to monthly soon. That seems odd. 

I would also be interested in hearing what others have done to be successful in these areas. I am tempted to by in a bad area simply because I can get in the game now and stop procrastinating. There are deals that seem to good to be true.

@Joel Owens - What did you do to minimize your headache and low yields? 

@Seth Sherman I did drive by and walk around. I like the property that's why I'm interested. I didn't feel threatened and the neighborhood seems pleasant. But the area has a bad rep. It's just a poor area with bad schools. How important is it to rent out a house I would rent? I was raised in this neighborhood as a kid but moved out when the area went sour. Someone has to live here. Do I have to share their standard? Does anyone know where you can get accurate crime reports?

@Aaron Montague

Taxes for 2013: 

State/County: $133.23

Municipal: $220.93 (should be sewer, water and trash)

Separate School Dist: $250.13 (don't know what this is)

Total Taxes: $604.29/yr

Heating/Utilities: Tenant Pays

HOA: NONE

Cap Ex and Ops: Not aware of what this is :-P

Insurance: Quick guess is about $100/mnth

Management Fee: $60/mnth

Vacancy: 16%/yr

Thanks, I this is my first time putting those numbers together. I hope I have been thorough  enough. If it makes a difference the "true" tax value according to the Real Property Billing Roll is $23,170.

Thank You,

Taylor