All Forum Posts by: Mitch Price

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Hello Everyone,

Just need to hear from some fellow investors on what they think about this property.

So I am an investor in Georgia. I bought a duplex this time last year that I am currently housing hacking. This is a deal analysis for a house my parents own free and clear (they have another one that is right next door, that has a mortgage on it $29K to be exact, Ill post the numbers on it too soon). They RE invest a little but they are really thinking about getting out of the business because both are looking to retire and not have to deal with the hassle of managing rentals. They are thinking about selling both rentals.

I will be honest the neighborhood does not pass the eye test. Its C /maybe even D territory. I been helping them with it for +10 years now though. Every time we are there getting it rent ready, dozens of people stop by wanting info on it.

My brother-in-law (who lives in Mississippi and has HVAC business) and I think that they should keep them and just let us take over the taxes, mortgage, maintenance, and management of them.

I myself am looking to get into RE investing full time eventually! I don't have a problem managing the units even though I am out of state.

Would this be a good opportunity to take on???

POKE HOLES IN MY ANALYSIS!!!

LETS GO!!!!!

@Matthew Johnson yes that's what drew me to it. The fact that you are provided and can customize a lease. It seems pretty good so far. I may try it out for a year and see how I like it.

Yes....a lot of people on here are talking about Cozy but Avail.co is the one I am familiar with. You've been using it for 3 years so obviously you like it....any downsides/negatives to it?

Have you checked out a site called Avail.co <------ the "M" is left off on purpose bytheway!!!!! (It used to be known as Rentalutions.com)

They seem to provide everything you need for landlording. The base things are free and they have tiers for services starting at just $10 per month.

Im trying to see if you or anyone else uses or have heard of them????? Any feedback????

Yeah just like @Zachary Beach said be yourself. Don't sweat over it too much. And don't be intimidated because he is a billionaire. EVERYBODY starts from humble begins at some point. Even if half of his wealth was inherited, hypothetically speaking, hell his father, grandfather, great-grandfather started from humble beginnings. All Im saying is that everybody starts somewhere at 0, at some point!  

@Bill Hampton Thanks for the advice. Im going to check that out now! Also Im glad you reached out! Im on the lookout for a tax expert/ financial advisor/ person who invests in real estate themselves!

@Thomas S. Thanks will definitely consider that option.

Thanks @Mitch Messer I will definitely take that into consideration. Because this is my first property and the fact that I am living in the other unit I not focused on outsourcing property management just yet! But once I get a few more doors that will definitely be an option 

Quick Question:

I need some good resources/ online property management sources for drawing up a new lease? I have the previous lease from the previous owner, which isn't too bad. Meaning Im not going to change too much from that one to this new one (I am raising the rent, but other than that most of it will stay the same) Im just wanting the best option for a good new lease and possibly an online property management resource to use. And if it is worth it?

- What are good sources for drawing up a lease?  (Georgia specific would be great!)  

- Websites? Online resources?

Would that be a good option to consider?