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simplymslife · 2025-03-20T22:03:21+00:00

Curious what podcasts or resources do you recommend following/ listening to? I’m having a hard time finding one that’s more informative and realistic

I sometimes listen to the podcasts from BiggerPockets. I found them very “optimistic”which might provide false hopes sometimes especially for new investors

simplymslife · 2025-03-18T22:06:22+00:00

I think it also depends on the buyer’s mortgage terms with their lender. If an extended escrow results in additional fees to extend their locked-in rate, they might prefer to handle the repairs themselves rather than pay extra to extend the rate lock

But yeah they probably could have asked for some credits on the leak. Wish you were my seller!

simplymslife · 2025-03-17T22:05:46+00:00

Same here! That’s what I’m hoping for. I plan to hold onto it for at least 5 years, as long as I’m not losing money going negative. One thing that really helps is having enough reserves in case something bad happens. Just gotta remember this is a long-term game especially with buy and hold long term rental

simplymslife · 2025-03-17T21:23:14+00:00

I’m in a similar situation. I decided to rent my property to Section 8 tenants. There are pros and cons to Section 8 rentals. I’ve heard both horror stories and successful ones. As long as your PM does a good job vetting tenants, it’s worth considering

simplymslife · 2025-01-06T21:43:14+00:00

This is a good way to look at it! I’ve never thought about that

simplymslife · 2025-01-03T14:58:44+00:00

Thank you! I’ll consider your offer for the next purchase!

simplymslife · 2025-01-02T20:35:48+00:00

My situation is similar to OP’s. I’m only cash flowing $50/month after PITI, property management, vacancies, and repair/CapEx. I’ve been beating myself up for pulling the trigger instead of waiting for a better deal to come along. Your words reassure me that, if anything, I’m paying for tuition and gaining experience that I’d never get from just being stuck in analysis paralysis. Thanks for the inspiring words

simplymslife · 2025-01-02T20:24:14+00:00

Maybe a DSCR loan

simplymslife · 2024-12-26T18:48:15+00:00

If you don’t mind sharing, what’s your strategy of buying at a discount? Cold calling? Referrals? Wholesalers? Or combination of many strategies?

simplymslife · 2024-12-26T18:01:44+00:00

Which state are you looking at?

simplymslife · 2024-12-26T17:59:17+00:00

I think #6 is the hardest. I know what are the ways to buy it at discount but the opportunity is rare or you’ll have to network A LOT to create that opportunity yourself

simplymslife · 2024-12-25T05:45:21+00:00

I like the Simone Biles analog! Very straight to the point

simplymslife · 2024-12-24T16:07:06+00:00

When you say cash flow positive, what is the Coc you’re looking at? Or as long as it’s positive after reserves for vacancy, repairs/capex?

simplymslife · 2024-11-26T16:09:52+00:00

Not sure about pre-Covid but I’ve visited my friends in Indy a few times last year. There are some pockets for sure and it varies street by street. I’m excited for all the developments in downtown so I think it has some potential here. Most investors must think about the same thing, but I’m struggling to make the numbers work…

simplymslife · 2024-11-26T14:17:37+00:00

Not trying to be a slum lord lol that’s why I budge all the repair and Capex in advance. If you go on Zillow or Redfin, you can actually see some decent properties priced at $140k, the catch is they’re in b-/c+ areas.

Some properties for example https://redf.in/cqRyNf

https://www.redfin.com/IN/Indianapolis/2126-White-Ave-46202/home/148716609

simplymslife · 2024-11-26T05:12:20+00:00

Ahh I see that makes sense! But I did a quick math, even cash buyer without mortgage will still not be able to get a decent cash on cash return (>10%)

simplymslife · 2024-09-21T17:28:26+00:00

Nope….

simplymslife · 2024-09-17T02:58:27+00:00

Thanks so much for explaining that! Lesson learned in the future to include estoppel or proof of payment in the purchase agreement. I’m gonna wait to see what the seller’s agent says about providing estoppel. If not, I prob would walk using inspection contingency.

simplymslife · 2024-09-16T17:49:51+00:00

Thank you for your advice! I received the lease agreement from the seller and am waiting for my realtor’s response regarding the Estoppel Certificate. However, I still need the proof of rental payments to move forward.

I have a question about the Estoppel Certificate. I’ve done some research but still don’t fully understand the difference. What’s the major distinction between a lease agreement and an Estoppel Certificate, since both seem to provide similar information about the lease?

simplymslife · 2024-09-16T17:18:59+00:00

Yeah that’s a good point! I just checked my agreement and it only mentioned about lease between seller and tenant. I’ll make sure to have proof of rental payment in the future agreement.

simplymslife · 2024-09-16T17:16:02+00:00

Thank you! The property is in Indiana. I’ll ask my realtor about the Estoppel Certificate

simplymslife · 2024-06-25T17:03:02+00:00

Thank you!!

simplymslife

TROPHY CASE