All Forum Posts by: Shane J. Renard

@Mike Bowling Why did you get your license? 

@Joseph Beilke - I think this is a great question during your interview process on the new potential clients. For me, it is reliability. If I have a tenant in need of something, I want it handled asap. This of course comes with a premium. When I have interviewed some management companies, NOT ONE of them asked me "What is important to you in hiring the right management company?" This will be so different for so many other landlords. Might be evictions, or tenant complaints, or maybe admin work. Etc.. 

@Nik Eliadis - That is a lot to answer. But use the lease copies and current P&L's to show the lender what the properties are making. As for the overseas money. That is already been proven when you purchased the first few properties. Maybe speak to another commercial lender who is more familiar with this BRRRR method.

When a seller tells me how the property can make money, but their numbers do not. My question to them is always "Then why haven't you made money with the property?" or when they tell me about all these opportunities with the property. "Then why haven't you done so?"

I agree with talking with the neighbors. They know what is going on. Also helps get your foot in the door for future conversations. We are not in the Real Estate business, we are in the "People Business". Building relationships is crucial. 

@John Simon - In the tools section of this site, you will find the BRRRR calculator.

@Ilya Schroeder I use Property Radar to find my sellers and off market properties. Love this program. Property Radar

@Marvin Michel - Price, Location or Condition is the problem. It always is

@Eric Justice - I highly recommend "Rich Dad Poor Dad" series by Robert Kiyosaki. Excellent books for the beginner and to the accredited investor. 

In our local market, we are starting to see prices coming down on listings. In the last 7 days we have had over 100+ listings and 25+ price reductions with longer DOM (Days on Market). The correction is here.