All Forum Posts by: Mindy Jensen

I believe I read this tip from @Brian Burke, who said he has his name as a keyword, in case someone is having issues with the @ name link.

If you have leftover keyword spaces, use your name as a keyword. You can get notifications when people are discussing you or trying to tag you unsuccessfully.

Thanks Brian!

@Alfred Carrasquillo, I thought I needed a license to invest, and it has helped me quite a bit, but it is expensive to get. There is the coursework, the testing, the background checks, MLS fees, NAR fees. You have to hang your license under a more experienced agent for at least two years in most states so you may have desk fees. Once you sell a property, you share your commission with the employing broker, who can take 50% or more of the commission. So it isn't just a matter of getting your license and then the money rolls in.

That said, it is helpful to have. You have access to the MLS, can easily do research, and you don't have to wait for your agent to show you a house, you make your own appointments and go.

I think it would be worthwhile to find an investor friendly agent first, learn the area and neighborhoods, and start that way. You can always get your license later. I think I invested $3,000 in getting my license, and all the fees, for the first year. 

Welcome to BiggerPockets, @Vincent Saggese.

Welcome to BiggerPockets, @Alfred Carrasquillo.

Have you set up your keyword alerts yet? Be sure to include at least one for your local area so you can meet investors near you.

You say you are in the education phase. You are in the right place to learn. Be wary of "educational seminars" that cost thousands of dollars. You won't learn anything there that you can't learn here for free.

Check out the Podcast and Blog, too.

Welcome to BiggerPockets, @Rowan Benedict. 

Your plan doesn't seem unreasonable. Do you have an area you are concentrating on? Have you started looking at properties yet? Find an investor-friendly agent and have them set you up to receive listings when new properties show up on the MLS. This can give you an idea of what properties are selling for - a more realistic view of what you can get when you sell. It takes a while to learn a market, so the sooner you start, the better.

Also start looking for a contractor if you don't plan on doing the work yourself. I see you are an Architect, do you have rehabbing experience as well? 

Look for an REI club or meetup to attend in your area and start networking with local investors.

@Shaun C., I can understand your frustration, but one thing you have to remember is that the landlord/tenant laws in your state will trump anything you put into a lease. Just because you put it into the lease doesn't make it legal or enforceable. 

You also cannot force your lower unit tenant to be the property manager for you. You can ask, but expect to offer lower rent or some other form of compensation.

I don't think you can dictate at what temperature they keep the thermostat. I would run all this past your lawyer, and you should be using an attorney familiar with landlord/tenant laws in your state.

I'm not sure you have a case for eviction against the current tenant. Do you have a no smoking policy? Do you know for sure they were smoking pot? Can you prove it? Check with the attorney on that one, too before you try to evict.

Welcome to BiggerPockets, @Emilio Mendez.

Check out some of the Success Stories. They can be very inspiring.

On key to investing with confidence is to learn all you can. The Podcast and Blog can help you, along with this forum that you have already found. 

@Jessica Gayle, welcome to BiggerPockets.

Stop right there. You do not need to pay thousands of dollars for these seminars. They will not teach you one thing you can't learn here on BiggerPockets for free. The Podcast and Blog are filled with solid information.

As for starting out, I started when I was young and thought I knew everything. I have made just about every mistake I could, which is always a great teacher. 

Think about what you have to offer someone in a partnership, and connect with local investors. The REI club is a great place to start.

@Kenny L., thanks for clarifying. I've read a lot of horror stories on the forums, and some newer landlords don't necessarily know all the red flags to watch out for. 

Red flags aren't automatically bad - and those are plausible answers.

@Daniel Estigoy, what you want to do is bullet-proof your rental. Make it iron clad so you have a minimum amount of repair calls.

I found an awesome old thread that talks about this. One of the biggies is the garbage disposal and the ice maker in the refrigerator.

Apparently, renters will put anything down a disposal, and those only handle so much before breaking. Remove it and remove the hassle. The ice maker gets jammed and it is easy to fix, if you care. Tenants typically do not care to try and fix anything, and really you don't want them to try and fix something.