All Forum Posts by: Pat G.

Treven:

Awesome that you are looking into RE investing.  BP is a great resource for you to learn what you need to know. 

One piece of advice is to never tell the other tenants you are the landlord because that will open up a whole can of worms. Now, with that being said that may be a challenge if you are going to live in one of the units. One problems it may cause is when rent is late which could make things uncomfortable at times. One way around this is to have an attorney collect the rent, send the 7 day notices, etc. on behalf of you. You can tell the attorney not be mention your name or use your LLC's name. Now, you are going to have to put that cost of the lawyer into your figures. An LLC in Ohio will cost you around $100/year.

Dustin:

Welcome! If you are not failing you are not moving forward or trying new things.

One piece of advice is to get focused on what you want to do, wholesales, flips, foreclosures, Subject To, etc. Become an expert in that focus. Then pick an area that works for your selected focus and become the expert in that area. Know everything about that area, prices, demographics, etc. So when someone calls you can already have an idea in your head of the value.

Great job on income increase!

Hope that helps

Brandon:

To obtain police calls/runs, and type of calls, (i.e. domestic violence, car jackings) to your specific complex just call the precinct that the building is located in and they can either fax or email them to you. 

I got a 6 month report faxed to me from the Toledo Police Dept. for a complex we were looking at purchasing. Also ask the officer that answers the phone about the area, if he/she does know, ask for someone that would know. 

With a apartment building you are looking for drug calls, domestic violence, and the like.

Tell them you are looking at buying the building and is there anything you should know about the area.