All Forum Posts by: Nicholas Sheridan, Jr.

6-12 months

@Steve LeBlanc if your PM is charging you 15% they better be doing the repairs themselves lol. 15% is the highest amount I have ever heard, I am pretty sure that on BP 8-10% is common, my 5% is already locked in with a PM.

@Bariso Sora @Jay Bob @Tanisha Thompson @Ben Baye Absolutely, can't learn everything from a book!

Thanks @Nick Coble the next big hurdle (I am sure every investor has this issue) is securing financing. Just remember that there is no need to learn absolutely everything about REI before you jump in

@Salvatore Lentini very smart, yes I definitely should have put down less money on this one, that was my biggest mistake for sure. What is assuming a mortgage?

@Alec Frasier thanks! good luck to you as well, sounds like a fun project

@Derek Hamilton @Sudhanshu Singha @Michael Drew @Josiah Patrick Zebarth Thank you! I used Chemical Bank

@Brad E. very nice! Make sure you put that in an LLC. It took me less than an hour to get everything setup. Also make sure you have a bullet proof operating agreement

@Nader Hachem Thanks! I could write a book with all the mistakes I made. I would say the top 3 are: pay really close attention on the inspection and open every window, turn on every light and appliance. The next being don't automatically assume putting down 25% on a SFH is your best bet - I am regretting not putting down less and having more money for the next deal. The third would be use a real estate agent and get their contacts on electricians, hvac etc companies.

@Lawrence Horne @Chris Heppner @Scott Garber Thank you! Many more to come