All Forum Posts by: Rich Weese

Is there some way to be notified when any member replies to a thread that I have already replie to?

Michael,

I think this would work ok on a SFR. Most of my Multis require a flight to get to. I want to know other things before "I drive by". Age of building, area occupancy and delinquency factor, age of roof, Condition of parking, any city requirements management history, etc.

Sounds like you have this RE game down well. I understand you wanting to leverage the CA properties. Why did you pay cash?

I would be a contrarian to previous post. There are so many zoning changes that if something goes wrong, a minor repair may turn to complete re-wire or re-plumb. All old properties should have big cash flow because your other benefits may be low: depreciation and appreciation. New loan may also have some different requirements which will be tougher.

I would NEVER try to quickly analyze a multi family. I had to find a couple large buildings for a 1031 on a storage facility I was selling a little over a year ago.. It took 3 months to weed out the crap and the BS info provided by some brokers. Better to be thorough rather than quick, imo.

I have received a lot of e-mails to my inbox lately with the same thoughts.

I have some good news and also bad news. I definitely started with nothing and have been very successful in real estate. Not to brag here but you can find over 5000 of my posts with hints and suggestions here on BP. I also spoke at first BP convention and that speech  is still available somewhere on BP. Not familiar with the new BP..

Bad news- much of this was accomplished decades ago. It can still be done at present time but new methods need to  be tried.

Good luck. 

Rich Weese

Evan – I am placing a second post. I'm not sure what I am allowed to say, so I simply answered "yes" to your question in the first post.

If more information is allowed, you may find the book on Amazon as a kindle or on the website of the same name for a physical copy.

Rich

yes. I just sold a home in Casa Grande.

I don't care if you call it a security deposit or a move-in fee. I would go for the most that you can obtain an different markets are more willing to accept that. I agree with all the other posts that you need to check and verify what you're state laws are. I would also charge whatever the maximum late fee is per day. A tenant that is just moving in, will agree to almost anything that is in your lease agreement. If the market is strong.

you nailed it. I just returned from a rock 'n roll cruise on 12 February. I leave again on March 11 for a romance and 70s rock 'n roll cruise.