All Forum Posts by: Stephanie Hardy

@James Painethanks for the advice. While I do have some savings, I doubt I have enough for lending out money. I'll keep it mind, though.

@Thelonious Jones Thanks for the advice. I realize the TV shows are all about the drama. I just don't know how you can accurately know what your costs are until you've done it for a while, I guess. Buy and hold does sound like a better deal for those that don't really know how to flip. Maybe I'll start with a buy and hold that only needs a cosmetic touch.

@Elizabeth Schellhammer I agree that buy and holds are great long-term diversified investments. That's why I am fighting back and forth with myself about it. Yes, having a PM would be helpful, but I would like to learn the ropes and what my PM should be doing so I can fire them if they aren't doing it! =) On the other hand, like you said, it does take away a lot of the headache and stress that I am worried about.

@Thelonious Jones I agree that buy and holds are great long-term diversified investments. That's why I am fighting back and forth with myself about it. Yes, having a PM would be helpful, but I would like to learn the ropes and what my PM should be doing so I can fire them if they aren't doing it! =) On the other hand, like you said, it does take away a lot of the headache and stress that I am worried about.

Buy & holds sound like awesome investments and a great way to have cash flow each month. My hesitation, especially after reading a lot of the forum posts on BP, is that it is such a headache to have a rental! Between the stress of potentially having a vacant property each year when the lease renews to having nightmare renters or even having a big repair that is needed, I don't know if I'd be able to truly ENJOY having a rental. Is it really that bad if you do your screening right and get good tenants in there or is that half the battle, too? I know every property has its own pros and cons, but what are the odds that something goes wrong or not according to the plan?

Flips sound like I would really enjoy doing them more, but I have extremely limited knowledge in fixing/repairing homes and don't have much extra time to spend doing it, so I think the "fun" part of having a flip I wouldn't be able to participate in and would just have to hire out. Also, because I don't know much about repairs and costs, I am afraid I wouldn't really be able to accurately estimate what the costs would be and would go broke from misestimating the costs. I know on the flip TV shows, they have a contractor around letting them know costs, but it is usually before they even buy the house. To me, I wouldn't think a contractor would waste their time with that, but who knows.

What are your thoughts? What other investment opportunities (besides wholesaling - don't care for that) do you think would be a good fit for an introverted person?

One thing to think about, too, is if you price higher, you would be potentially lowering the number of applicants and maybe the quality of applicants to choose from may decrease, as well. Just because they make more money doesn't mean they will be better tenants. They could have more liabilities because of that increased income. Also, like @Marcia Maynardsaid, they may look for a lesser rental place when the lease is up.

 This is great advice and there is a TON of information to learn from on BP for $0! I do want to point out that it is illegal to put anything in anyone's mailbox. I highly doubt that anyone would report it and if a mailman saw you do it, you might get a warning, but just for your information!

@Raymond B.

I don't think you can do the "@" with the android app. I don't think it works for some reason. What I do when I'm on my phone is just push the "quote" from what someone else said in the conversation and then it will tag them. Haven't tried tagging anyone not already in the thread yet.

@Steve Haight

Thanks for the input. I guess I just gotta keep on looking and find that deal!

Here is the link. It is a good overlook to investing. I thought it was super helpful.

https://www.biggerpockets.com/courses/a-beginners-...

@Rich Lennon Thanks for the advice. It would be a shame for something like money to ruin a relationship.