All Forum Posts by: Karen Rittenhouse

@Kabura Onesime - Start attending your local investor meetings. Find them on MeetUp.com and NationalREIA.org.

That is where you will learn what you need to know about your local area. You will also find buyers and sellers in those rooms.

Good luck to you!

@Vishwa Mishra I agree with @Richard H. - check with your Section 8 office before you close to find out about the property requirements for Section 8, how long the tenant has been there and how long they plan to stay.

There is a reason the owner is selling and you want to find out what you can before closing. Will the property be able to keep Section 8 status? If not, why? What are the requirements to keep Section 8 status in your area? 

Perhaps you don't want the property to be Section 8. How do you get out of it? What kind of lease does the tenant have with Section 8? The city can usually move the tenant pretty easily if you decide you no longer want the Section 8 status for the property.

But it's up to you to get the information and you should absolutely do it before closing to make sure everything is in order.

The seller managing through his LLC doesn't impact you in any way.

If there is no lease, yes, create your own and get it to your new tenant right away. Again, you need to know your state laws about Section 8 before creating the lease to know what you can and cannot do with that tenant.

Good luck to you!

@Mary Jay If that's all you're looking for, simply put reminders in your phone! You can make them recurring or not depending what the task is.

Before magic cell phones, I used the large desk calendar and put everything down there. Then checked the calendar daily. Now I do the same thing in my phone which is much easier and never goes away!

Good luck to you.

@William M. This is not an unusual request! And there are many investor friendly agents.

You can meet them locally at our REIA meetings and Deal Maker Sessions. Our next Deal Maker Session meeting is tomorrow night, 7pm at the Airport Marriot. Here's the link and I hope to see you there!

https://www.biggerpockets.com/forums/521/topics/637071-greensboro-deal-maker-sessions-marketplace-for-wholesale-deals

@Charles Wilkes Where are you located?

Check with traditional lenders - local banks, national banks, credit unions.

Find out what their requirements are and how you qualify.

Most banks will loan up to 10 rental properties and it's the cheapest long term money you will find.

Good luck to you!

@PJ Kolnik - Perhaps. I buy a number of properties, however, that need nothing until the first or second tenant move out.

And price point makes a big difference.

At any rate, it's random and depends on so many things.

Thanks for responding!

@PJ Kolnik Odd statement. Not sure how they figure that.

I'd say there are as many answers as there are properties and property owners. Kind of like "when do you buy a new car."

@Young S. Finding good deals, finding a good agent, finding good contacts - all up to you.

Work with those you like and trust. Move on from those you don't.

@Bess Carter Be sure to attend the Metrolina REIA meetings and there's a Deal Maker Session meeting that happens right before it every month.

You can find all your local investor meetings at MeetUp.com.

Charlotte has a HUGE investor community so hook-up!!!

Good luck to you!

@Jacob Chapman I like Appfolio.