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Alpharetta, GA

Thank you for posting this Faganfamily! I was wondering about some of this lingo myself. :mrgreen:

Welcome Bishops,
Its good to see more people in my area popping up on here.

:welcome:

Congradulations!! I like to hear these things, this helps give me the motivation to get my butt up and get my first deal rolling.

I have a friend who was renting out his home and he gave me the figure of 40+ of the total rent to operating expenses. He was referring it to, if you got a group of wild teenager who like to throw parties or something along those lines, you would have enough in backup to keep you from putting your own expenses at work on the property and ending up in the negative. Also could be used as normal wear and tear on the house which the landlord, if I am not mistaken would be responsible for since it is his/her property. From my understanding, just gotta always save a good percentage to keep yourself covered just in case (never know what may happen)

I am not sure what some of the experienced guys have to say about it but I would like to hear their take on the operating expenses.

Since I'm still a newb and learning about numbers. If I'm right your taking 50% of rental costs and stuffing it away for property expenses?? I'd like to know if Im right at this...just taking a wild swing at it.

Welcome aboard!! :D

Hmm....sounds like a good place to network.
I'm hoping to join a club to learn about REI, and help where I can, i only know from what i read, which isnt a lot since i dont have actual experience.
Whats the usual spiff at the meets? Do they go over something? Or is it a meet of primarily networking??

yeah i sent them a private message a few days back asking a few questions. Ill see what they say...so far i like what i see.

HI,
I am new to real estate and the site. I am located in Alpharetta, GA. I have been keeping a watchful eye for a bit just to be sure the site isnt full of con artist and ads. What I noticed though was a lot of great advice being passed back and fourth.
So here I am....I still have not purchased a house as of yet but I have a goal to grab my first before the end of the year.
I am also curious as to, if anyone think that going to a REI Club would be a good idea for a newbie such as myself??