All Forum Posts by: Mary Murphy

Glenn, I hadn't thought of selling. Looking at all my options is a good idea. I am still learning to run the numbers so I need to speed that up so I can be more knowledgeable in the choice I make.

Rick, all good thoughts and I appreciate them all. You have also given me more to look up and more reading, I will defiantly look into Jay Decima, he sounds like I could learn a lot from him. I don't see dealing with people as a problem for me but I guess time will tell about that. I will look into property management especially since I am new and have a lot to learn. Thanks for your comments, they help. 

I hadn't thought of a HELOC, I guess I would need my capital for a reserve. Thanks for the info on contractors. One more thing I need to build a list of contacts for. This is a huge learning curve. I feel like I am coming into a class late and am cramming to prepare for the first test.

This will be my first step into the investment realm. I have recently inherited an older home that I want to make some fixes to and rent out. There is no mortgage. The house is older and needs new roof, furnace, electrical, plumbing, flooring, windows and a basic landscape job. My problem is I don't know how to figure out what will be reasonable to invest in it to still make a profitable cash flow. In my area I can rent it for $600 to $700. I have capital to work with and don't need to get a loan to fix it. Any thoughts on this would really help.

Mary   

Hi Everyone!!

I am so excited that I have found BP. I am new to Real Estate investing but so excited to learn as much as I can and change my future. I don't have any experience in investing but plenty in the construction end of it. I love homes and can see what they can be instead of what they are. This is a huge challenge but one I am excited to pursue. I have been listening to podcast and reading as much as I can. There are so many great people here that I have already learned so much from.  A great community I am happy to be part of!!

I am just getting started at this and I don't have tenants yet but most people have a pay day on Fri. A notice on Sat would be better before they can go out drinking or playing and spend the rent money. Just a thought