All Forum Posts by: Melissa Croyl

My first experiences in real estate investing were in a partnership. I learned a LOT over the last few years with the search process, negotiations, and property management which was crucial to my success in more recent years when I branched out on my own. I think having a partner or mentor who really is invested in your success is so important. Having someone to bounce ideas off of and to take some pressure off as an early investor was great, and the shared responsibility (and costs) allowed us to leverage our efforts. My business partner at the time was an ex of mine, but we remained business partners and had a lot of trust required! 

Hello BP friends! I recently bought a house in Houston, TX and am thinking about renting it out. That being said, I do not have the time nor extra energy that I would want to be put into the proper managing of my house . Can anyone recommend a property management team that would be able to deliver fair and honest service? Thank you in advance.

Hello from Houston! 

I'm reaching out today as I'm holding my first real estate investment group meet-up in the area. This group is primarily to help investors, but is not limited to investors. Real estate agents, inspectors, appraisers, loan officers, contractors, accountants, etc are invited to join as they please. Meetings will be held once/month in various location south of Houston. 

This being said, are there any topics of interest that have been meaningful to you all in REIA meetings or classes? We want this to serve a lot of people that are in the field. Thank you for any and all feedback, feel free to reach out via message as well!

Jonathan Perez - we were all over YouTube and got a few great ideas. Thank you! And Jeffrey Stasz I appreciate it. We ended up going from the middle of the room to make things work then had to even out the final touches from there. Very glad to have had the experience and tips from you guys! Thanks

Hi BP fam, I'm helping a buddy install laminate hardwood flooring and we have a pretty good start, but have an abnormally-shaped layout in the house (working from one end of a trailer to another) and our tiles aren't quite fitting the way we'd like. Does anyone have experience with installation of these types of floors? Thanks in advance!

Hi Adam,

It's awesome you already have been in a work-relationship with this potential mentor, however I don't feel like it is necessary to outright ask him to be your mentor-because it almost sounds like he already is! My recommendation would be to continue what you're already doing, and instead of risking making things "weird" between you two by flat-out proposing him to be your mentor, simply make yourself more available and present with him and his company. It appears that he already is and has been mentoring you without having to put a label on it. I was actually just reading the Bigger Pockets Rental Property Investing book this weekend, and Brandon mentioned this topic and suggests a similar approach. Offering your help and time with his projects, asking questions, and just being there in contact with him and his staff can and will likely be the best way to get some hands-on experience down the road. It sounds like he's a great guy, with fantastic insight you'd like to get in on, so don't be afraid to just call him up or casually ask next time you meet if you could shadow him while finding deals, because it's been a recent interest of yours, and you value his work. This approach is easy and doesn't come off as overbearing or pressuring. I'm wishing you the best of luck on all of your endeavors!

This is incredibly impressive for someone of ANY age- and not only for your son, but for you as parents! I hadn't even heard of the Rich Dad for Teens book, and don't have any kids of my own but I love your concept of raising financially-sound kids by rewarding them for learning. I myself am a millennial and I do agree with much of the stigma that many our age feel "entitled to participation trophies", yet I think it's extremely important for people at a young age to see that knowledge of any sort pays off in some way or another and is rewarding. Congrats to your son, and congrats to you and your wife for doing a fantastic job raising kids and teaching valuable life lessons along the way that will help them beyond school classes!

Sorry to chime in with another question. Is there a section of the lease that defines normal wear and tear? I haven't looked into that before and am curious as to how you define those boundaries in a contractual agreement or it it's just unspoken. Thanks for any help!

Congratulations and good luck with the (hopefully) many more deals you do!

If possible, I think moving the washer and dryer to a more practical place would help by leaps and bounds. As a potential homebuyer and someone who cooks a lot, I would be turned off by walking into my kitchen to find laundry and a noisy, space-consuming machine or two that doesn't look like it belongs. Staying near $70K sounds like it would be a safe bet to finish the deal and move on to the next one for that area. Best of luck to you!