All Forum Posts by: Paul Falardeau

Welcome to BP, @Ann Villasenor!  It looks like we're neighbors.  

I'm also new to real estate investing and I'm 45.  I don't intend on letting my age be a factor in my success, so I certainly don't think it's too late for you.  :)

Looks like others here gave similar advice as what I would give, so I'll just wish you luck.  Maybe we'll meet at a investors group some time.

-Paul

Hi All,

I'm learning tons here in the BP forums.  Thanks to all who contribute for the greater good.  I hope to someday have the knowledge and experience to contribute myself.

I'll be interviewing property management companies for my multi-family properties that I'll be purchasing.  I'm currently looking at 2 fourplexes and want to develop a relationship before I actually need them.

What sorts of questions should I ask when I set down with property management companies? Anything I should look out for or be aware of?  Any information you could provide would be greatly appreciated.

BTW, if anyone knows of a good Property Management company in Albuquerque, NM and doesn't mind sharing please let me know.

Have a great day,

-Paul Falardeau

@Cameron Kloster @Lydia S. - I can't recall the entire process the contractors told me, but it starts with punching holes in the bottom so there will be proper drainage.  I believe they use different types of fill then tamp it down.  Any concrete that comes out of the hole does not get used for fill, because there can be voids that over time can cause sinking in the ground.

@Easton G. I think I may know the house you are referring to.  My partner and I looked at it also.  We decided not to go with that house, because in our opinion there were too many questionable things that will drive up the costs really quick.  

I don't think in Rio Rancho a pool is a selling point.  Like @Rick Davis said the sand, dust, tumbleweeds, and trash blowing in from the neighborhood would make keeping a pool up too much trouble.  

FYI, filling in a pool will cost between $8500-$10K.   If this is the house I'm thinking of, backyard access shouldn't be too much of a problem, so it is likely to be on the lower end of that estimate.

Good luck!

Thanks everyone. Even though the upfront cost may be low, the ROI may not be there.

The education I'm getting here on BP is priceless!

Hi all,

I'm considering buying a manufactured home to rent out, but I'm wondering if there are any special considerations I should know about before buying.  

For example, when it comes time to refinance will I have a problem? Are there any challenges when it comes to rehabbing?  Anything else I should know?

FYI, the home is 3 bed, 2 bath, 1400 sqft on .34 acres.

Thanks in advance

This is a great thread. I'm brand new and the BRRRR method seems great, but the thing that worries me is my lack of income. I have the cash for my first deal, but I have not had a "job" or a real income for almost three years.

I'm a bit worried that once I acquire my first property I won't have the ability to pull my money out in a refi to purchase my next property.  

Are there lenders who would refinance someone like me?

Very interesting topic.  I hope more folks can shed some light on how it works. 

@Michael H. Welcome!  I'm new to RE Investing and BP looks to be a huge wealth of information.  I'm looking forward to hearing your success stories. 

@Lydia S. Thanks, looking forward to meeting you too.  

I love the ABQ area.  I see you are from MA.  We relocated from MA about two years ago.