All Forum Posts by: Thomas M.

What Camilla said.

Lots of competition here. New listings get offers Day 1 (often low ball offers) and sell fast (as long as they're not overpriced). Non investors know they need to offer fast as well, as long as their agent has any savvy.

no licensing required. Don't know if it's different for someone out of state.

North Highlands is a nice area, I have 2 houses in that neighborhood and lived there 10 years. Stay North of Spring Street. Spy Run can be hit and miss. If you need direction on good neighborhoods, etc. feel free to send me a PM.

I sent you a colleague request and a recommendation a couple days ago

@Justin K. Get connected with a real estate agent and have them set you up with an MLS portal. See listings when they hit the market.

competition is fierce and this is the big home buying season. Trying to compete with the "big boys" isn't easy. This is my experience as a small mom & pop investor. I have managed to close 3 deals last May and this May - one flip and 2 rentals...but I think we were pretty lucky (to beat the big boys) on 2 of the 3.

I own 3 single family homes and 1 4 plex. I am starting with the home I'm closing on Monday. The 4 plex I bought a year ago has similar flooring in it, but it's cheap flooring. The handyman of the previous owner did a terrible job installing it. I've replaced carpet twice in my 1st house, but it's about 50/50 carpet & original hardwood. This newest house needs all new flooring and I know how long carpet lasts in rentals...

I'm a NO PET landlord! we had cats once...I know what they can do.

I appreciate all the advice. Keep sharing!

@Keith Lewis Thank you, very helpful!

I've thought about this exact topic recently as well. I think it comes down to your current strategy. 

People that know more than I have already covered this topic well. There's different advantages to different approaches.  It comes down to your plan.

Debt is never good, but some debt isn't as bad as others. ;-)

If this is your 1st house and you'll be living in it as well, I don't think you need an LLC. What you do need is a solid lease, an up to code home, and good tenant screening.

LLC basically protects you from losing your primary home or other assets in your personal name due to an incident at a rental where someone wants to sue you. Do you own any other significant assets? Unless you own multiple properties, you really don't need an LLC, but that is entirely up to you.

Talk to a lawyer if you're unsure.