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Erik

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Erik last won the day on November 27 2019

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12 Apprentice Landlord

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  1. I've seen articles to this effect as well. I was in a sales agent class the other day and was blown away that while the instructor fully recognized that Gen X and Millenials weren't buying the McMansion anymore, she was also adamant that we keep building them. "I don't know how they're going to sell them" she said under her breath. It was pretty eye opening to see how little the builders and their accomplices in RE sales just don't give two sh_ts about the larger picture so long as they're cashing checks. The larger issue I see, which can be an opportunity as well, is that as demand fo
  2. My Mom bought me a copy of "Rich Dad Poor Dad" when I was in my junior year of college. I remember it distinctly. It was like a light came on. All of a sudden it was this realization that I wasn't destined for the middle class. I had this entire view of life that revolved around a J.O.B. I can say that it honestly took about ten years before I could say that I fully understood the concepts. (I'm a slow learner, haha). I made lots of mistakes but the jumnp into RE investing was another leap forward, especially the fourplex. It was a ridiculous amount of work and I rarely got days off b
  3. I'm with @BBFult on this one. Give a 24 hour notice for entry but be generous in the amount of time you expect the repairman to be there. Just keep in mind that tenant's have lives too and she may have legitimately not been able to accommodate letting him in.
  4. We're excited to announce our first Mat-Su Valley class. We're taking one of our most popular topics and bringing it to the Valley Board of Realtors, 741 E. Susitna Ave. You can RSVP from right here in the forum. Please help us get the word out so we can make this event a success. As always, the class is 100% free thanks to our sponsors. This event is sponsored by First Rate Financial. Whether you're trying to buy your first rental, stepping up to your next, or refinancing your current property these guys can get you the right loan for your situation. These folks have helped hundreds of
  5. This topic came up the other day in front of Brian the attorney. It's a balancing act. If you're prepared to carry the costs associated and always treat it as a company, then yes. If you're just going to go on legal zoom, buy an LLC and then forget about it, then no. If you fail to treat it as a company, a future plaintiff can do what's called "piercing the corporate veil". Essentially that means proving to the courts that it really isn't a real company and that your LLC means nothing. Then you're right back to where you came from. Maggie B is right. Just make sure you treat it l
  6. OK, landlords.... part of this is learning stuff sometimes the hard and expensive way. What did you learn along the way that is advice you would pass along to a newbie getting their start? I'll get the conversation started. When I started working as a property manager I already owned eleven units. I thought I knew what I was doing. Fast forward six years and boy did I get schooled. The cool thing about being a property manager is that you get to see a wide variety of properties, people, and tactics. You get to see what people tried that didn't work, and what did. Here's a list
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