All Forum Posts by: Neal Bratton

@Anthony Cassel I definitely wouldn't rule out IN. I personally haven't looked at much over there, but they will be going through a growth cycle with the East End Bridge completion. Lot of construction already around River Ridge and Charlestown. But I personally think the metro area is too large to farm everywhere. I would pick a couple of areas or neighborhoods and churn through some listings/deals until you have a good feel for that area.  

@Jeremy Jackson Thanks for the heads up. And I don't need any flooring right now, but if you would like to send me his name, I will definitely put him on my list.

Can anyone recommend a handyman or contractor that will pick up odds and ends in Louisville, KY?

@Bisrat Arega I'm not sure graduating first should have any bearing on your decision, but you do need to make sure you educate yourself enough about real estate to feel confident in your decision. You are in the right place for that part. I'm not sure the details on the line of credit, but you always need a little bit of cash reserves to take care of unexpected expenses. But I would say if you are ready to start investing, more power to you.

Good Luck

I will put it in the Calendar. Missed the last couple. Would sure like to make this one.

Would love to make it but I will be out of town that day. Hopefully I can catch the next one.

@K.C. Marsh I think you should definitely pursue your current property. Talk to a lender, talk to the owner, and of course...Run the numbers several times. Paying way below market is great, but getting your feet wet with something you are comfortable doing is also worth something. You don't have to hit a homerun first time up. Singles are fine and still get you on base.

Also, I'm sure the lender will take you in depth, but most banks won't let you borrow the down payment. If you were using your parents money they would probably have to sign the loan also.

Looking to forward to hearing some more details on this as you examine this opportunity further.

First Welcome to the site! I'm not familiar with the differences in Canada and US, but I would have to say all things equal, having 2 properties is better than one. But it depends on your experience and comfort level if you want to leverage yourself more or less. If the properties still cash flow with less money down and the extra cost associated with the loan, I think that would be my choice. Every situation is different of course. Happy investing. Sounds like your off to a good start.

@Michael Richardson Congrats! Sounds like it should be a good property for you. Great to hear how networking on the site, helped you get a local investor @Chuck B. to help you out with your deal. That's the power of networking...and the internet! 

I've haven't been with Property management long enough to have turnover, but I will have to have a talk with mine before then. I think it should be one or the other, but if it's what you agreed to... Check your contract. I would still see if they would waive it. Keeping you (the client) happy and loyal should be worth more to them than a hundred bucks or whatever 10% is for you. Everything is negotiable.

Good luck.