All Forum Posts by: Taylor L.

RO systems are overkill for rentals. I'd just pull those out. If you want the filters to actually be changed, you should pay for them. The overwhelming majority of tenants won't change filters if they have to go buy them (myself included back when I was a tenant, so no judgment)

I used Nabers and it was ridiculously easy to open and make transfers. Haven't made contributions yet.

Have you looked into 1031 exchange options?

Will it cashflow as a LTR? Generally townhomes have associations, have you reviewed their docs as well as the local STR regulations?

At this point, the wise thing to do is to focus on capital preservation. Travis gave great guidance and perspective on what you can get out of simple interest on insured bank accounts.

Protect, protect, protect. If you want to get into real estate actively, move very, very slowly and do not tell potential partners how much capital you have available until you have thoroughly vetted them. Peel off $250 and buy a bunch of real estate books on Amazon. Read all of them several times.

Speak with an asset protection attorney, tax advisor, and potentially a fee-only financial advisor. If you do move forward with doing real estate deals, you must not only protect your net worth from investment loss, but also from potential liability. 

Additionally, check out the FatFIRE Facebook group.

Also, check out this awesome Facebook Note investing group!

Disclosure, I am not affiliated with the group but enjoy the content and conversations

If you're in Richmond, go to our local real estate networking groups including Richmond RING. There are some awesome people in the area who can teach you a ton and who like to do deals together. Jim Ingersoll has a popular event coming up in the spring as well.

Start looking way before the 45 day window starts. We do deals with 1031 Exchangors who take TIC positions, and I've found that a huge, huge key to success is to set the pins up as early as possible.

The downside is that if the sale of the relinquished property slides, that impacts one's ability to get into a particular replacement deal.

BP has a whole MHP forum! https://www.biggerpockets.com/forums/30

@Logan M. has been killing it in MHPs and releases a lot of great knowledge on the topic

 Your agent can request these from the seller.