All Forum Posts by: Linda S.

@Arionna Barajas,

I'm envious, if you can do a fourplex, that already has tenants, on a VA loan... wow! I'm jealous, seriously... that's such huge and easy cash flow! I say go for it! If you hate landlording, you can hire a property management company. Just realize, you're buying 4 units, so it's 4 full kitchens, 4 water heaters, 4 bathrooms, etc.. so just be ready for stuff to go wrong, and have good $$ available, and you're good! Good luck! :)

Network-- find someone who matches your strategy, it's all about referrals. Go to a local REI club, or message people in your area, and just ask! If you ever need anyone in Richmond, message me and I'll help! :) If you do buy/hold fixer uppers like me, I've learned it's all about your team. Good luck!

As long as you can make the payments if you don't have a renter in the new house, what are you scared of?   It's nice not to have a mortgage payment (we buy all ours in cash), but it's better to grow IMO.    It sounds like a smart move use the equity to expand, that's what we do.  

First-- you need to determine what your strategy is, are you flipping or buying/holding?  Narrow down what your first move is, and focus on finding your first.   If you rush, you'll end of wasting a lot of time and money.. do you have a team set up?   bad contractors know who they can/cant' rip off, IMO real estate isn't a get rich quick.. you have to be smart and strategic.

The best, and most correct answer to get you the most money-- get a multifamily house, preferably a triplex or a larger multifamily.   This will allow you to put minimal down, and instantly get multiple tenants, and will bring you the most wealth, the fastest route.

This doesn't factor in your quality of life, as you may want a large house, pool,  great neighborhood for the kids, etc...    so you have to do what's best for your family, and your lifestyle.. if you're after wealth, do the multifamily, but if you're after quality of life... determine what's best for your family, and if you can handle doing renovations. 

I'd suggest pro-rating the rent,  but  I'd tell them that you're only doing this because they've been great tenants, and ask they have the place 100% cleaned up in exchange for the cheaper rent vs. charging an entire month.      Maybe even give them a detailed cleaning list, and drop off the supplies so they can have it ready for showings? 

They never moved in, so they haven't caused any problems to your property, so they should get their security back ASAP.     

  I guarantee a few hours with a lawyer will eat up that amount.. just give them their $$ back and focus on getting it rented ASAP.

It depends on the condition of the house... we buy cash only, so it's houses that won't pass inspection, and normally offer 30-40% off MLS, and they work with us.. although we have gotten a subtle FU before. All depends on how badly the person wants to sell the property, and what they think it's worth.

Could you put up some more lights  in the area?   

Also, I don't know about Baltimore, but Petersburg allows you to request additional officer patrol, where you can request they drive by at least 2x/day, but they only do it in 3-day increments.    I'd suggest she call the local police department and request additional surveillance. 

@Takeshia Martin,

Could you invest in some buy/hold and get some passive income under your belt, and then switch?   If you can get your set bills paid, at least you wouldn't have the stress of making ends meat if you don't get any leads.. ?  Or maybe you could try doing something that focuses on real estate, like being an agent?

   Also, wholesaling isn't my area, but just a few thoughts.. have you ever through about putting your email on the flyers, or state the times you're available so you won't have to worry about missing calls?   Another thought, would be to find someone who can answer the phone when you are at work, and pay them something just to be available and take info?