All Forum Posts by: Sam L.

I don't know about anyone else but "Detroit" and "turnkey" in the same sentence scare the hell out of me. I'm no pro but I'd imagine in order to succeed those types of markets you'd want/need to be very hands on to ensure your properties are in good care.

I just recently listed one unit of a duplex in the middle of February on Facebook and had over 168 hits in a >10 days. Out of those 168 only 25 showed up to the 2 open houses, but I found a qualified tenant and rented it out fast. I use a generic response to weed out the tire kickers and those who can't read my listing.

Potential tenant: "Is this available?"

Me: "Yes, I'm having an open house this Saturday from 11-2 if you'd like to come take a look and fill out an application."

A lot of times all they just say "okay". BUT if they are truly interested they ask for my address (which I never give out in the original listing, only a nearby intersection).

Hope this helps!

I used to use craigslist but mainly focus on Facebook now. I like to be able to vet potential tenants by viewing their profiles. I can find a whole bunch of stuff that could easily disqualify them from one of my properties. Do they smoke? Do they own a non approved dog that my lease prohibits? (https://www.psychologytoday.com/us/blog/canine-corner/201405/14-dog-breeds-blacklisted-insurance-companies) Are they employed? etc...

Are you planning on self managing or use a management company?

https://www.zillow.com/homedetails/31-N-Hickory-St-Joliet-IL-60435/5478185_zpid/

I looked it over. It shares a driveway with the neighboring property that's also for sale and isn't the best of locations. It's a no for me. 

We all are, not to come off as a dick but you're going to need to try harder than that....

*Pick up the phone and start calling local agents and ask them if they work with or would be willing to work with investors. 

*Find an area of interest and mail out flyers 

*Attend local meet ups

*Bring something of value 

Good luck and happy investing.

Couldn't get past the first few sentences.  Chill with the emojis...

Being as you've been living above your means for the past 40 years, it's going to be a very difficult battle. You need to make sure your partner is on the same page as you or he/she will just be bringing you down. It's not going to be fun or easy. Set goals and stick to them, reassess these goals monthly to verify you are on track. Don't give up and good luck.

Have an electrician or someone capable of using an amp clamp grab some reading for you when the well is in service. Then figure out how many hours a day your well typically runs. Then find the rate for which your electrical service charges you and pull out the calculator....or you can add a new meter/panel solely for the well. 

I could make that work. I'll see you there.