May 29, 2018
Alison Feliciano at 5 Credit
Restoration Mark Hall.
As always I am going to share some
investing tips for you and answer a few questions. Later in the
show I’m going to tell you why I prefer RE investing to stocks. But
first let’s check some emails. Wrap up with about 7 minutes Open: Mailbag: From Tyler in Tampa, FL. “Roger do you have some
guidance for what you would pay for a rental property and where you
would buy it?”
From Virginia in Atlanta, GA. “Roger
I need some help. I am a real estate agent and I see properties out
there that look like a good deal, and I know I want to get involved
in investing, but I’m nervous. I haven’t done this before and even
though I know a lot about the transaction, I don’t know for sure
whether I can make money and I don’t know how to get the rehab done
correctly and most of all, I don’t have enough cash to buy the
property and fix it. Is there anything I can do and if so,
what?” Virginia that’s a
GREAT question. I hear this one probably more than any
times 60 is almost always a good deal.
neighborhood or one with upside.
chronically bad parts of town. Who wants to live there? Only people
who want that lifestyle or who can’t afford to get anywhere else.
Our heart goes out to good people who are struggling financially.
Been there done that. We can do things to help out in other ways
including support for local and national housing charities. But
this is business and it is not a good business decision to own
assets in areas like this.
low maintenance homes. - brick is great.
Triplex, Quad - usually excellent choices.
town doesn’t matter that much to me as long as I can find good
property management. I recommend you secure the property manager
before you close on the purchase. I also recommend purchasing
multiple properties in the same area if possible to get you
preferred treatment from the property management.