All Forum Posts by: Larry K.

I think better to manage by yourself as long as you can. I have a few units and manage myself. I have a good handyman who handles the field issues but I always take the call and usually check out the situation first. In a way I like to get the call because I get the pulse of the tenant and when I go I see how they are keeping up the place.

Choose carefully. You might end up paying for a guy in his car with a cell phone who does not have the touch you do.

Posing as a renter at other available units is probably the best way

Also just ask around. Stop neighbors on street and ask them. Go to grocery store and ask. I did all this to get to know my market.

Of course craigslist, realtor.com, zillow too.

For me the "acceptance letter" is the signed lease.

The tenant comes with the security and 1st months rent, we sign, and the deal is done. I send them a copy of the signed lease.

No seasoning needed. Just a finished, renovated property.

I think the answer to your second question depends on the appraised amount

I have gotten 75%LTV on all 3 of my NOO 2 Families.

listen to every podcast and go to your local bp meetup or start one. You may find this exceeds what you hope to get from a mentor

should go to the owner

if you consider half the income goes to expenses (and believe me it will) you will about break even if the debt number you gave is right.

that is what you are supposed to do. This is using the money of the business to build the business.

I have found they rarely ask. If they asked I would answer truthfully. The upside is they know they are dealing with the decision maker.

I'll be there again