All Forum Posts by: Phillip Dwyer

You came to the right place to learn. Let me know if you'd like to meet up over coffee sometime.

Bill, that's been my feeling too. I've stayed in the forums up to this point, because I can get in and out quickly and still contribute. Hopefully I can set aside some time to add more value with some blog posts in the near future. Josh, keep us up to speed with the revamped article system.

Josh, thank you for starting this thread. I've been tossing around the idea of starting a small group in my area. I've been to several groups, and all but one were trying to sell something (felt slimy). My main interest is networking with real investors (new and seasoned) and other industry pros. My perceived obstacles are creating an engaging format and motivating others to participate with the workload.
Have you considered starting a Bizzaro BP that operates in a physical format?

I've been looking into getting more involved with Bigger Pockets. What's the difference between articles and blog posts? Are they the same? If they are different, how much time/effort do you dedicate to each within your overall BP commitment?

Ditto. Especially in the front yard where everyone has access.

Steve, where are your properties? What do tenants want? You may be able to get away with the el cheapo carpet with built-in pad from Menards. Otherwise, there is some cost effective vinyl/linoleum out there. Both of these options should work for suburban Detroit.

I think you'll have a hard time finding a tenant that will agree to replace a fridge. Most tenants aren't likely budgeting for that expense, and will be pissed when they're food goes bad when you don't replace it.
As far as the washer and dryer situation goes. If you don't want to have to fix or replace them, you should remove them before you list it. There's too much potential for confusion if you leave them and things break down regardless of what your lease says.

Jobs suck. I agree on this one. But J Scott brings up a great point, and he's using the high side of the return range. You're going to need several properties, 10+, to replace your income. Have you considered throwing in some fix and flips to boost your cash levels?

Shari,
I'd say parts of Summerlin command higher rents. The HOA fees go towards beautiful landscaping, parks, trails, and events. Sale prices tend to be higher on a price/SF basis as well. I don't think you'll get as high of a cash flow on these properties compared to older parts of town without the HOAs, but long run this area is a good place to park money if you buy right. Turn over will likely be less in this area, and appreciation is more likely (say 10 years out). This depends on your strategy like any investment.

Welcome to BP Dave! What are your plans for investing in Vegas?