All Forum Posts by: Robert Biggerstaff

Yes there’s a Calculator on here learn how to use it. It is worth it’s weight in gold

 If you have no idea what numbers you need to be at why would you listen to anyone else? I’m not trying to be a jerk but you really need to know for yourself what your numbers need to be. It doesn’t matter how I do business it matters how you do business .... so many people will not take the initiative and learn how to do things on their own they want to follow everybody else and if everybody else drives off the cliff guess what they go off the cliff also 

Again do it like you did the first one by qualifying… Figure out what it is that you need to do to get yourself in a position that you qualify… As long as you’re using somebody else’s money you’re going to have to do what they want you to… So figure out how to qualify and then make that happen

Get it by the same way you did the first one by qualifying

Run new investor run

If it was me personally and I have asked for something to be repaired and it was not I will start documenting. The next thing that I would do is figure out how to withhold the rent so that the repairs will be made.

Write up a contract concerning the whole transaction. Make sure that you stated they do not own any part of the property they’re not being given ownership of the property in anyway. Make sure that it is noted that they are doing this of their own free accord that there are no guarantees that you will renew the lease with them afterwards. Make sure that it states that a licensed contractor that will answer to you not to them will be used to do the work

Tell us about the details on the numbers

 I am like Dennis generally speaking if the property cost me less than 60,000 I need to be at least at $200 a door net profit. I take out for taxes, a takeout for the water heaters, I take out for roof, take out for central heat and air,… These are all your capital expenditures. Make sure that you figure them in to your monthly operating expenses. I do not advise having a breakeven property at all. I would not recommend buying for appreciation either.  

Make sure you screen your tenant really well