All Forum Posts by: Scott Mac

I think a good goal for someone just starting out is to buy (1) ((good)) property, and get it rented out, and run it for maybe a year and a half at least just focusing on that one property.

But we also have those who are just starting out who want to use property management, or need to use property management because what they want to buy is far from their home, or they are just not cut out for being a property manager and all that it entails.

I think that what I said in the first paragraph still applies to that.

As far as net worth, you can't spend net worth it's not going to improve your lifestyle at all.

And not giving investment advice, which I never try to do, that's all I have to say about net worth.

 Just my 2 cents...

Isn't Marion County the horse capital of the world???

Especially thoroughbreds.

Maybe tie into that somehow???

Good Luck!

https://www.youtube.com/watch?v=BVMY-VX7NyA

Hi @Don Konipol

That seems like a really well thought out plan, I was wondering what your thoughts are on the seed money needed to get the investing portion off the ground???

Because that can be a stumbling block for some, the financial seed capital needed to get going, and what to earmark it for in the budget.

Regarding college, I believe that all 50 states require a college degree to be licensed as a real estate broker???

Although I'm not sure what the requirements are to be a broker/salesperson???

Although my personal belief is they do not teach any type of boots on the ground, or thinking patterns for daily usable information that will lead to closing more sales, or running what amounts to a sales operation. 

And I will say I am not a broker, I never have been- but am familiar with the business.

Basically to me it seems like a hoop someone will have to jump through if they want to be a broker- and I say that as a very educated person.

Maybe some brokers can weigh in on this and give some more opinion on it???

Good Luck!

Yes I remember reading about the cardboard box that Warren Buffett reads in underneath the freeway overpass.

I'm sure he lives in a pretty nice house himself - and not a cardboard box under any overpass.

Hi Ale,

Congratulations on your new job (and I hope you are enjoying it so far).

I’m sure your unique talents will be a benefit to all of us.

And I’m sure you’ll be successful at it.

Good Luck!

ps.

Don't forget to ask if you have an office mini-bar in the monthly budget....

One bedroom condo with a small balcony is going to attract a different type of renter than a three bedroom two bath SFH with a garage and a backyard.

So one of the things to consider is the structure and what type of renter you believe it will attract. 

Good Luck!

Hi Don,

I'm surprised you're not going to hand the business down to the next generation.

Good Luck!

The sellers asking $15,000 for the house, and you want to offer $20,000 to account for your time.

I don't understand Why you would pay someone else to account for your own time.

Could you explain that A little more possibly?

Good Luck!

Welcome to the world of Fred Mertz Mr Roper, and Mr Furley--full time stay at home landlording.

Good Luck!