All Forum Posts by: Ryan Evans

There are quite a few posts you should dig into on this topic here on BP. There are a lot of opinions on the matter. 

Are you sure you want to start a location-based business with the intention of moving away? 

I got a bit screwed on a vacancy right before getting one of my properties. So I'd rather have it vacant like others have said. 

I'd get it in writing that you won't close until the place is vacant and in broom clean condition. You risk the possibility of the tenant leaving all their junk behind if not. I can speak from experience how much that sucks! 

Congrats @DJ Espiritu ! Just try to set the right expectations with how your relationship is going to work. If the tenants are older, they might not take you as seriously being 26. But if you know what you're doing and earn their respect, you'll be just fine. 

You might want to go in and find something to fix/update right away so you have the chance to demonstrate that you're taking it seriously from the start. If you set the bar high for being a good landlord, that will go a long way. 

You could seek out someone who's doing flips and see if they'll show you the ropes a bit. Buying property and fixing it up will teach you a ton about real estate and you'll be able to see the real side of it, not just the talk. And seeing the rough parts of the real estate world might show you which path makes the most sense for you as there are a million ways to get involved in real estate. People are generally happy to help newcomers to the game, so you shouldn't have too hard of a time getting out and seeing some real-life deals happening. Even if you cant pull together your own deal right now, at least you'll be more ready for when the day comes!

I have this issue on my duplexes out in Ohio. Rents aren't currently high enough to justify paying to get water metered separately, but around here, you might want to get two meters and have the tenants get their own washer/dryer. 

There are plenty of areas that fit your criteria. Check out the map the James Wise put together and you'll be off to a good start. This exact question gets asked probably a couple times a week on BP, so do some digging and you'll find a lot of good info here on BP. 

I don't know the Indy market, but I know the Seattle market. A lot of the offers that are going through have escalation clauses in them and they are waiving the inspection. I'm not saying it's a good strategy, but it might get the deal done. 

I don't have any affiliation with this, but I went last year and it was some of the best money I've spent in a while. I don't think there is any way you could leave this expo and not get thousands of dollars worth of value. The speakers were amazing, I met some awesome people, and within the first couple hours, I learned a few things that steered me away from loosing about 10k on a rehab project that I was about to do. 

If you're on BP, you're already making the right moves to be an investor. This weekend is a serious investment. Not in real estate, but in your education. It will no doubt pay you multiples of whatever the ticket price is. 

Can't wait to see what you guys have in store for this year @Tarl Yarber !

Hey @Chris Nash ! In addition to what the others have said, the local RHA meetings are a good resource for making connections. It's a crowd of landlords, where as most of the other meetups are largely flippers since we're in such a good market for it. 

If you ever want to swap knowledge, I've been needing to find a good accountant and I know a thing or two about the local market :) 

I know almost nothing about the market there, but I hear about it all the time in various conversations. I'm in one of the hottest markets in the country and I hear people all the time talking about buying down in Vegas. With the sports team coming in and a big wave of appreciation, a lot of people have got their sights on it, and at least a couple of the long-term vegas investors I know are starting to sell to cash in on all the hype that's going on now. 

It probably has some great potential, but you might get better results in a market that hasn't been as hyped up.