All Forum Posts by: Nikki Grizzle

@Dana Dunford Thanks for the info. One of the issues with where I live, when it comes to lawn care, is that some do it and some don't. I just don't know how that affects them when finding a renter. Law care can easily cost from 160.00 to 300.00 a month here unless you hire a kid down the block or just a handyman. Just mowing alone is not costly but the upkeep such as pruning, aeration, seeding, fertilizing can be. I would guess the smart thing to do would only pay for the other services on an as needed basis and have them cover regular mowing.

@Jim Shepard That is the route I was wanting to take but wasn't sure if that would possibly reduce my chances of finding a renter. Then again, I probably wouldn't want someone who was not willing to care for the home. 

I am a newbie to renting and I was wondering how much do you contribute towards the upkeep of the home. Do you maintain the lawn, or do you have the renter maintain it? Do you clean the carpets, or do you require your renter keeps them clean? Also, say they get hair clogged in the sink and its backed up. Do you call and pay for the plumber, or do you hold them responsible? I have gotten mixed reviews from several owners and I am not sure which is the best way to go. On one hand I feel they should be responsible unless its a home repair issue. But on the other end I feel like that is one of the reasons people rent, to not have that responsibility. 

What are your suggestions?

Hello David,

I have met many Investors who have come from a diversified background. I graduated with a BA in performing arts. I am Private Investigator and own my own business doing house checks for individuals and companies. My husband has an IT background. We are both new to real estate investing. So no, your degree does not need to be tied to real estate. Now, to your question about needing a degree. A college degree is much more than a piece of paper to get you a job or get you started in your career. Most of us are not in the career we studied in school. However, I didn't learn this until I finished college. College is one of the easiest ways to get connections. You have the opportunity to socialize with other like minded individuals who may be interested and/or have the same background as yourself when it comes to real estate. My husband found out his professor was a real estate agent part time. This was before we were even interested in real estate. But he developed a rapport with that professor and was able to learn alot about the industry. You already have a head start, probably more than most of us newbies because you have your parents to help guide you. College is way more than just education. It is one of the best doors to networking you can open.

This is something I was interested in as well. Would it be easier to switch to a conventional loan if you have proof showing you are receiving a monthly income from a rental property as opposed to a property that you are just refinancing to fix and flip?

I completely respect your ambition. However, I would probably also maybe think about renovations that may need to be done prior to renting. I also do not know your husbands finances but for him to only be able to get 1 mortgage and you are making 35,000.00 a year I am not sure how this plan works out in 5 years. I can see it definitely working, but just not in 5 years. Also, when you mention 400.00 a month income, are you talking about yourself? I guess I am just quite confused. Also, is $80,000 for a duplex the normal selling price there or is that just a number you do not want to go over. If I can do what you said in 5 years I think I may make some trips to Wisconsin and connect with you.

The Triangle area and even the outskirts are booming here in North Carolina. Finding deals is very easy. There is alot of competition but there is so much building and revamping going on that you can find deals all the time. You just have to do research. I have gone to courts, looked online, drove around neighborhoods looking for those sale signs, looked at others investors sites that sell properties etc. Also, I find networking to be the key to finding out where all the hidden gems are. I can't tell you how many times I have overheard people discussing neighborhoods and profits.

Thanks for the tip. I have a question? Isn't an inspection supposed to be done prior to purchasing a property? If so, wouldn't that have been disclosed? Just asking because we are new to this and just assume everything would be disclosed once we have our inspector come out. 

Hello Rodney, 

I am always eager to meet others in the area I can connect with, especially in the Wake Forest community. I will definitely check out your blog and would love to meet sometime. Thanks.

I really enjoyed reading everyone's input on section 8. This is something I have actually been researching as I assumed collecting rent money would be a piece of cake. However, I can now see where there can be some issues when dealing with people possibly losing voucher money and not being able to afford the entire rent anymore. That is something that had not crossed my mind.