All Forum Posts by: Tyler Flagg

Awesome ideas all around. Thanks so much for taking the time to respond. I appreciate all of the input. 

Hey folks,

Quick question for you. I recently took a look at a rental property that I wanted to buy...and it was in a state of utter disarray. It was clear that the property manager hadn't checked on the property in years, because it looked like a 'hoarder' house. 

I've got three properties currently and my PM does a great job of making sure they're in good shape throughout the year. However, I'd hate for this to happen to me in the future if I ever branch out to another market and get a different PM. 

Is there anything that y'all have done in order to make sure that property managers are ACTUALLY checking in on houses throughout the year? Is there a sure fire way to prevent this kind of stuff before it happens?

Any advice would definitely be appreciated. 

Thanks!

Awesome info Nate. Thanks for sharing.

@Daniel Inglis welcome to BP! Congrats on the move to Mildenhall...I'm extremely jealous. I'm an Air Force guy as well and just started investing within the last year. I actually found BP in the exact same way as you did through the "21 best books" blog post. I immediately got hooked and read probably 15 of them within the first few months. Best of luck on the PCS and let me know if there is anything I can do to help.

@Donald Peyman welcome to BP! I'm an Air Force guy myself and just got started investing within the last year. It's always great to see people from our community making moves in real estate. It looks like you've got a real solid amount of experience already, so I'm sure you'll do great. Best of luck to you, and let me know if there is anything I can do to help.

@Amy Shick welcome to BP! It's great to have you and your partner on board. I'm an Air Force guy myself and have been investing in real estate for the better part of the last year. Keep up the great work! I look forward to hearing about what y'all are up to. Oh yeah...nice website too. Very slick.

@Jeffrey Vandagriff welcome to BP man! What an awesome goal. My fiance and I talked about the same thing after we got done sailing for the first time around BVI last year...what an amazing way it would be to spend a year. From the sounds of it, Tulsa is a pretty good place to be investing. Best of luck to you.

@Jace Prozeller (cool name by the way) Welcome to BP! Be sure to introduce yourself in the New Member Introductions forum. Networking is half the battle...so be sure to start early.

First off, I commend you for knocking out all of your distractions. I decided to cut my cable cord about a year ago and it has paid huge dividends. It's amazing how much you can accomplish without mindless entertainment.

I definitely think that the Duplex is a great idea. Heck, if you want to, find a triplex or quadplex. Take advantage of an FHA loan on a 4 family house and, assuming that you do your math correctly, you'll be living rent free with cash flow to boot. There have been a number of articles written on this topic dubbed "House-Hacking" if you want to look it up on BP.

I'm not too familiar with the Midland market, so I won't give you any advice. However, I recommend you read this article. Figure out where Midland is within the 4 phase real estate cycle and play your cards accordingly. 

Hopefully someone from your neighborhood chimes in and gives you a better idea though. Best of luck man. 

What a great man...so sorry to hear of his passing. I literally just finished reading 'The Millionaire Mind' a few days ago. A brilliant concept for a book from a brilliant man. Thanks for bringing this to our attention Jerry.

I'm actually in the process of doing this right now...so it can definitely be done!

I currently have three properties, all of which I used the same bank to originate the mortgage. When I was shopping around for 'lines of credit' I decided to call them first. They weren't able to offer me a HELOC (because they obviously weren't my primary residence), but they COULD offer me a BLOC (Business Line of Credit) due to the fact that they were investment properties.

If you already have a property (or properties), I would start by calling the bank(s) that you are familiar with. I would imagine that lending institutions are more willing to do something like this when you already have a business relationship with them.

Hope this helps. Best of luck Joshua.