All Forum Posts by: Ryan Spath

We typically only do year leases, if the tenants decide to move out in the winter months you will be sitting vacant. We have a buyout clause in our leases that allows folks that are buying a home etc a way to end our agreement.

Does the co-signer meet the criteria of your unit? Does the occupant meet all the criteria with the exception of income?

Are the folks willing to put a double deposit down? Is the property listed at or just below market rent?

What does your lease say about lawncare? If it is in the agreement I would continue. Is it possible to communicate when the treatment will happen so the tenant can move the furniture etc and not have it covered by whatever is being sprayed. WOuld it be possible to give the tenants a chance to maintain the yard and if they break the agreement you continue to do what you have been. Often times a phone call can resolve and text message confusion. Best of luck!

Insurance has been the largest line item increase for us. In Florida some property taxes have also gone up substantially. Rents can only go up as much as the market will allow, if you have a great tenant and you are already getting market rent, and you continue to increase you risk losing a tenant and having vacancy. 

As long as you have the proper team you should be ok, look out for "turnkey" investments from no creditable operations. Find someone local and build a relationship, if you are going to invest 100k, Id even get on a plane and go visit a few operations and see what/who you can do business with.

To mimick what was said above:

1. Building Wealth One House at a Time by John Schaub (3rd edition is the most recent version) - I think every single investor should read this book. The author has been investing since the 1970s and does a fantastic job at breaking things down simply. 

this book is hands down one of the greatest books ever written in my opinion. 

Boise, Idaho. We have seen 1+% population growth for the past decade. Ada county job growth is 1.7% according to our regional commissioner. Our household income is ~88k. Micron is expanding here. Amazon already has a large distribution center. Meta has a facility in Kuna. Costco is expanding. The only downside is a lot of appartments has come online recently and there are a lot more in the works. I personally own SFH in Boise, Garden City, and Kuna. Hope this gives you somewhere to start. Happy to help more if you would like.

Benjamin - welcome to the club! If you are not married to Denver as previously mentioned you could move to a place that does not have state income tax and lower cost of living and really speed up your process. We can often achieve financial goals faster the more uncomfortable we can become. It's all about delayed gratification. 

option 2 is my favorite. You are in a more expensive state and you make higher wages due to this. I would purchase as much real estate as possible FHA loan for the 1st 4plex or check to see if there are other state funded down payment programs for first time home buyers.

I would put my head down and try to buy a 4 plex every other year for 10 years. You are going to look up and have 5 of them and now things will really start to pay off. 

real estate is like planting trees, it takes ~10 years to really get any shade. And when you have several trees giving you shade you no longer need air conditioning to stay cool. 

best of luck! Let us know what you come up with. 

Lauren- 

First of all congratulations on jumping into the investing journey! A big part of entrepreneurship is problem solving so you are are the right path!  

What are you trying to achieve? Based on your post it appears as if you are not as comfortable with the $3900 monthly mortgage on the primary.....is this correct? Are you simply wanting to lower your personal housing costs?

Are you willing to sell the primary you are in now and put that money to work somewhere else that can help you achieve more cash flow or at least a lower monthly expense? Are you willing to house hack? How uncomfortable are you willing to get to accomplish what ever it is you are seeking to do?

Id love to help and provide perspective however I can, Please feel free to reach out.

Congratulations! BP is amazing!