All Forum Posts by: Karen O.

You should get plenty of feedback.  But the answer iis that you don't need to be handy to own investment property.  

And since you don't want to actively manage, you will need to hire a property manager.

You should always run your numbers with property manager expense added.

And check this site for checklists on what questions to ask a property manager (PM) or the BP store for Brandon's books on rental property investing and managing rental properties.  They are great resources.

Good luck.

You can study wherever you like. But you can start your career by learning while working.  

Find a job -full or part-time - with a company that deals with RE.  A property manager. a construction co. a RE broker. a bank or mortgage broker. a law, accounting or insurance firm, an appraiser, surveyor or building inspector. a service provider (janitorial svc, maintenance, electrician, plumbing, foundations, septics, landscaping, remodeling, painting...) The choices are almost endless but the insight and lessons can be priceless.

Try working at a few companies/in a few roles -over the next 3-5 yrs - to figure out what you like and are good at and can use as a building block to your future career. 

Good luck.

I recommend you purchase two books by J. Scott available in the Bigger pockets Store. The book on flipping and the book on estimating rehab costs.

@Al Perez This might be gone by next week, but since I'll be in Cleveland next weekend, I'd like to take look.  Thanks for sharing.

What about RGW Investments for the rentals and RG Development for the flips and new builds?

As you are starting out on REI journey, consider if you could house hack this current property by taking on roommate(s).

Would parents seller finance or sell subject to?

Why are your parents offering to sell to you? Do they want to get out from under the rental property or are they trying to help you get started? ie Would they sell at low end of FMV range to give you instant equity?

And get from your parents all of the operating cost info you need - plus some.  No guessing needed if they know.

Good luck.

Either of the options noted or use for living expenses. Depends on the needs of each.

I'd look for a convertible Pool / ping pong /foos ball table. Takes up the same amount of space. 

I'd recommend you also do an analysis on propane cost vs oil over the last 3-5 years. I did in Western MA and found that even though the gas furnace would be more efficient, it cost more up front and there were few propane service providers in the area.  Thus there is something of a monopoly.  With oil, there are 3 or 4 providers to choose from, so I can keep track of the ccompetitio and find a different company if I need to.