All Forum Posts by: Nicole A.

A real estate investment association (REIA) is a general term. There are many of them all over the country. What area are you in? You could google your area's name and "REIA" or something like that.

I'm part of the Baltimore REIA and it's about $175/year. If you have a LLC (or maybe it's not needed to have a business, someone tell me), you can write it off as an expense on your taxes. My REIA is great..it's how I've met lots of locals doing really big things right here in my own area. I've learned more there than any guru course. I've met great friends and mentors ready to help. The cost is definitely worth it.

@Suzie B. Always a risk, but it can be calculated. Have a strong plan to pay it back before the 0% ends. But if you're getting lots of these offers, you can probably bet on getting another to transfer the remaining balance to if need be if you can't pay it off within the promotion time.

I think, for court evidence purpose, you could trying calling the HOA office and asking them to write up an invoice for this.

Yup, I used one for my first deal.

What about those 0% checks that credit cards send?

Yeah, Michelle said it well. Don't contact him back....especially via text. If he continues to contact you via text, try to respond at least via a phone call. Better by letters or maybe even email.

Also, be sure to keep all emotions out of your tone and responses. Stay business-like no matter how much he ruffles your feathers.

Just be sure you factor in the cost of management regardless if you hire one or not. You should pay yourself (or at least set aside the money) if you manage!

Do you what you feel is best. Check in on your managers to be sure they're doing a good job. Be ready to fire them if needed.

I personally manage my units myself at least for now. I have 4 units and do not feel overwhelmed by it (and i have a full-time job).

Wow, I hope that works for you!

Just as another source, check out this calculator to help determine your potential yearly cash flow of a property. Just need to look up the taxes paid (found online probably) and take a guess at insurance based on what you pay for your tri-plex.

I personally make the "property value growth" at 1% for worst case. Same with "rent increase yearly".

http://www.goodmortgage.com/Calculators/Investment_Property.html

Okay, great. :-)

So did you save up for that down payment? Borrow from some other source?

In a few months, do you plan to get another? ;-)

By honoring the leases, wouldn't you rewrite them so that they are between you and the renters rather than between the previous owner and the renters? Just make it so the lease begins today and ends at the same time it would have ended with the original lease?

Just trying to clarify for all of our best interests.