All Forum Posts by: Shane Craig

My motivation for having rentals and buying and selling real estate is that I get to determine my future. Owning rentals allows you be a business owner rather than an employee.

Like most people I have a 9-5 job that I'm an employee at and my income has a cap. 

However the real estate business doesn't have a cap.

I want to be wealthy and set up my family and I have realized in most situations employees can't be wealthy.  However business owners have a better chance of becoming wealthy but they have more risk.

@Andrew Syrios

How much are you going to rent that for monthly? LOL

Do you prefer complete rehab, minor touch ups, or rent ready rental homes and why?

Early on I wanted rent ready homes because I was just getting started. However now I prefer properties that need more work up front because you can get them for a fraction of the price and you can sleep at night knowing every is working properly.

What do you guys think?

@Johnny Accardo

Welcome to BP!!!!

Cash flow is were its at!

If this is your first rental I would encourage you to find a place that is close to you so you can keep an eye on it and make repairs. With that being said I would buy a property with as little repairs needed ( for the first property) so you automatically start cash flowing from day one. 

@CJ M.

After reading your post it puts things into perspective. 

@Tim Rostro

Being a long distance landlord terrifies me. 

@Shawn Ackerman

Man!!!!!!! I feel for you man. 

I have started putting fire extinguisher in all my properties. Who knows if someone would be home to use it but you never know. 

@Matt P.

Quick 12k LOL

When I make a large repair like that the only positive I can take away from it is that I will hopefully not have to deal with that issue for years.

@Dawn P.

After reading your post I realized I don't have anything to complain about. Keep your head up. Next year hopefully will go a lot smoother. 

@David Barnett

You got it right. Reserves are key!!!!