All Forum Posts by: Ingrid J.

@Alex Silang It sounds to me like the guy is surprised that his properties need repair over time. Any property, new or newly renovated, will require less maintenance the first year. After that it will require repairs, and a lot of it if big ticket item have been overlooked to begin with.

@William D. Welcome to BP!

What is the average condo going for in Staten Island? I would consider looking outside of NYC in a more rural place for better cashflow.

Hey Lucy!

And welcome to Biggerpockets! We need more women around here, so stick around ;)

How did you hear about BP?

@Tony Xu I think it depends on how much work you are planning to do yourself. Were you planning to outsource property management? They typically charge 10 % of your gross rent and fees for installing new tenants.

If you just want to get a deal done I would recommend a turnkey provider, but make sure to vet them property before you do any deals with them.

@Chad Lowans If you want to take on a partner it's vital to establish a contract or agreement that clearly states who does what. Many things can happen to a property, so it's important to plan for those things (even daily routines), even if it may feel a little awkward.

@Harrison Waller Welcome to BP! Where in Jax are you thinking of relocating to? I would recommend getting in touch with several brokers to get a sense of the different zip codes to buy in and which to avoid.

@Account Closed

Great advice. Gonna jump on this post, in case anybody makes referrals in Jax. I am an out of state investor so I wouldn't have the opportunity to meet anyone at HomeDepot right now.

@Gabriel Benavidez Sorry to hear about your truck. I'm glad your rental is all right. Having worked with insurance for many years, I'm curious: isn't there an insurance coverage for these types of damages to your truck?

@Layla Niu Welcome to BP! Are you looking at single family or multi family?

@Brian Grant Congratulations!

Don't give the bank your money by "paying it down". You may be able to have them give you money when you refinance in a year or two.

And be selective in your rehabs if you want to rehab your single family rental. Remember that single family homes and smaller multi's are appraised based on comps - and comps don't take into considerations the capital expenditures you put into the home. My recommendation to you is to look at similar houses sold within the past 6 months and see how they look and appraised.