All Forum Posts by: Pete T.

Kelly?

Agree w/ Josh, learn by doing.  Start w/ 2-4 and live in one if possible to help starting out.  It seems like 8+ is the way to go long term, at least where I am at.

@Karen Margrave

@Jon Holdman

@Bill Gulley

@Steve Babick

seasonality depends where you are at- ie Va Bch weekly rentals do good in June-August.  For PM, same as you would normally, word of mouth, ask around, meet/interview, and pray.  The PMs should be able to give a warm and fuzzy estimate and the landlords owning the properties can likely give you the doom and gloom estimates- the truth is normally in the middle.

As far as the thing you should know, I guess w/ a PM it shouldn't be too bad, but I find booking weekly rentals is almost a job and I wouldn't be a fan unless the return was great or as you mentioned you would like to own for yourself anyway.

To all of my plummer friends out there-

Would you cut open a hole in a brick building just to add a clean out or would you make due w/ what you have?  There is a clean that runs under the parking lot in the front, but nothing in the back to tie into or for ease of access if (when) something happens.  Water is expensive!  Thoughts?

Zoning can likely let you know what is and isn't allowed and may clue you on additional things that might or might not be possible.

Fedrico, first thing you want to do is brush up on Ohio law to determine the eviction process and what you can and cant do in general, for your protection, lease, etc.  You want to know the process going in when the tenant is selling drugs, not complying w/ the lease, abandonment, non-payment, etc.  If there is nothing covering contact information or time away w/o notice, your next best bet will likely be the pay or quit.

Your right, no time to start like today.  let me know when you find that first great deal on the southside.

I wouldn't use it for anything more than a starting point.  It's important to invest where you know.  Just like the more you look at properties for sale in an area sharpens that skill.  Looking at rental prices does the same

John continue to read, but question everything and make your own determination.  Build your reserves and prepare.  As stated above, ensure you cash flow conservatively and when you are ready, buy.