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- This topic has 55 replies, 7 voices, and was last updated 16 years ago by NotCranky.
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November 16, 2008 at 5:44 PM #14465November 16, 2008 at 7:36 PM #305615NotCrankyParticipant
Great plan, learn as much as you can about how to make cash flow. Pick the best of the worst toward that aim. Try to look for things other people might miss that you can bring out.It is a lot easier if you can keep labor down or take it on as second job and do it yourself.
The main thing is do the first ones right, not how big the deals are.Lower end neighborhoods are showing potential first. There is always going to risk so don’t walk into a knock-out punch.
I don’t know if it will happen this time but for a while in the nineties it was pretty easy.People could pay a crew to do the re-habs and make it work.That is as far back as my reference goes. Right now it is borderline doable, not low hanging fruit everywhere.I think we will get there.
One concern I have is that the county population has gotten a lot larger compared to housing growth in the neighborhoods that most suit me and people I would work with. There may be a lot more competition from that population. On the other hand, there may be a bigger stream of distressed houses in these areas.
November 16, 2008 at 7:36 PM #306073NotCrankyParticipantGreat plan, learn as much as you can about how to make cash flow. Pick the best of the worst toward that aim. Try to look for things other people might miss that you can bring out.It is a lot easier if you can keep labor down or take it on as second job and do it yourself.
The main thing is do the first ones right, not how big the deals are.Lower end neighborhoods are showing potential first. There is always going to risk so don’t walk into a knock-out punch.
I don’t know if it will happen this time but for a while in the nineties it was pretty easy.People could pay a crew to do the re-habs and make it work.That is as far back as my reference goes. Right now it is borderline doable, not low hanging fruit everywhere.I think we will get there.
One concern I have is that the county population has gotten a lot larger compared to housing growth in the neighborhoods that most suit me and people I would work with. There may be a lot more competition from that population. On the other hand, there may be a bigger stream of distressed houses in these areas.
November 16, 2008 at 7:36 PM #306011NotCrankyParticipantGreat plan, learn as much as you can about how to make cash flow. Pick the best of the worst toward that aim. Try to look for things other people might miss that you can bring out.It is a lot easier if you can keep labor down or take it on as second job and do it yourself.
The main thing is do the first ones right, not how big the deals are.Lower end neighborhoods are showing potential first. There is always going to risk so don’t walk into a knock-out punch.
I don’t know if it will happen this time but for a while in the nineties it was pretty easy.People could pay a crew to do the re-habs and make it work.That is as far back as my reference goes. Right now it is borderline doable, not low hanging fruit everywhere.I think we will get there.
One concern I have is that the county population has gotten a lot larger compared to housing growth in the neighborhoods that most suit me and people I would work with. There may be a lot more competition from that population. On the other hand, there may be a bigger stream of distressed houses in these areas.
November 16, 2008 at 7:36 PM #305994NotCrankyParticipantGreat plan, learn as much as you can about how to make cash flow. Pick the best of the worst toward that aim. Try to look for things other people might miss that you can bring out.It is a lot easier if you can keep labor down or take it on as second job and do it yourself.
The main thing is do the first ones right, not how big the deals are.Lower end neighborhoods are showing potential first. There is always going to risk so don’t walk into a knock-out punch.
I don’t know if it will happen this time but for a while in the nineties it was pretty easy.People could pay a crew to do the re-habs and make it work.That is as far back as my reference goes. Right now it is borderline doable, not low hanging fruit everywhere.I think we will get there.
One concern I have is that the county population has gotten a lot larger compared to housing growth in the neighborhoods that most suit me and people I would work with. There may be a lot more competition from that population. On the other hand, there may be a bigger stream of distressed houses in these areas.
November 16, 2008 at 7:36 PM #305982NotCrankyParticipantGreat plan, learn as much as you can about how to make cash flow. Pick the best of the worst toward that aim. Try to look for things other people might miss that you can bring out.It is a lot easier if you can keep labor down or take it on as second job and do it yourself.
The main thing is do the first ones right, not how big the deals are.Lower end neighborhoods are showing potential first. There is always going to risk so don’t walk into a knock-out punch.
I don’t know if it will happen this time but for a while in the nineties it was pretty easy.People could pay a crew to do the re-habs and make it work.That is as far back as my reference goes. Right now it is borderline doable, not low hanging fruit everywhere.I think we will get there.
One concern I have is that the county population has gotten a lot larger compared to housing growth in the neighborhoods that most suit me and people I would work with. There may be a lot more competition from that population. On the other hand, there may be a bigger stream of distressed houses in these areas.
November 16, 2008 at 7:50 PM #305987peterbParticipantNot sure if you’ve been a landlord already. But if not, there are some pretty good books on how to do it successfully. Well worth reading for the novice!
November 16, 2008 at 7:50 PM #305999peterbParticipantNot sure if you’ve been a landlord already. But if not, there are some pretty good books on how to do it successfully. Well worth reading for the novice!
November 16, 2008 at 7:50 PM #306016peterbParticipantNot sure if you’ve been a landlord already. But if not, there are some pretty good books on how to do it successfully. Well worth reading for the novice!
November 16, 2008 at 7:50 PM #305620peterbParticipantNot sure if you’ve been a landlord already. But if not, there are some pretty good books on how to do it successfully. Well worth reading for the novice!
November 16, 2008 at 7:50 PM #306078peterbParticipantNot sure if you’ve been a landlord already. But if not, there are some pretty good books on how to do it successfully. Well worth reading for the novice!
November 16, 2008 at 11:01 PM #306162sd_mattParticipantYeah I’ve been a landlord renting out rooms before but I didnt own the house. Does my moms house count? I know a couple people from when I was a leasing temp. I will definintey be talking to them on how to CYA.
With my income what it my first house will be a 2br or less…that is with a FHA or VA. So it would only be one tenant renting out a room to deal with. In the next couple years my income should go up quite a bit. How will the banks view a guy with good credit but a new job? I guess well see. But at least I don’t need to hurry for fear of RE bouncing right back up:) He he.
What are some things to avoid with fixers? I imagine “As is” would be one.
November 16, 2008 at 11:01 PM #305704sd_mattParticipantYeah I’ve been a landlord renting out rooms before but I didnt own the house. Does my moms house count? I know a couple people from when I was a leasing temp. I will definintey be talking to them on how to CYA.
With my income what it my first house will be a 2br or less…that is with a FHA or VA. So it would only be one tenant renting out a room to deal with. In the next couple years my income should go up quite a bit. How will the banks view a guy with good credit but a new job? I guess well see. But at least I don’t need to hurry for fear of RE bouncing right back up:) He he.
What are some things to avoid with fixers? I imagine “As is” would be one.
November 16, 2008 at 11:01 PM #306071sd_mattParticipantYeah I’ve been a landlord renting out rooms before but I didnt own the house. Does my moms house count? I know a couple people from when I was a leasing temp. I will definintey be talking to them on how to CYA.
With my income what it my first house will be a 2br or less…that is with a FHA or VA. So it would only be one tenant renting out a room to deal with. In the next couple years my income should go up quite a bit. How will the banks view a guy with good credit but a new job? I guess well see. But at least I don’t need to hurry for fear of RE bouncing right back up:) He he.
What are some things to avoid with fixers? I imagine “As is” would be one.
November 16, 2008 at 11:01 PM #306084sd_mattParticipantYeah I’ve been a landlord renting out rooms before but I didnt own the house. Does my moms house count? I know a couple people from when I was a leasing temp. I will definintey be talking to them on how to CYA.
With my income what it my first house will be a 2br or less…that is with a FHA or VA. So it would only be one tenant renting out a room to deal with. In the next couple years my income should go up quite a bit. How will the banks view a guy with good credit but a new job? I guess well see. But at least I don’t need to hurry for fear of RE bouncing right back up:) He he.
What are some things to avoid with fixers? I imagine “As is” would be one.
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