All Forum Posts by: Ana Hyler

Hi Kale, Just a quick recommendation. Make sure your pet deposit is in compliance with State or local laws. Where I operate, the max allowed pet deposit charge is 25% of rent total. Pet monthly rent is not specified, so that is up to the landlord. We charge the 25% allowed as a pet deposit and generally don;t charge a pet rent. I hope this helps.

shaun, if $45K was enough...we're already there now... but obviously not, that is why we want to payoff those loans...then... the numbers are different!

We are slowly starting to look at what will be our options in terms of management delegation... your idea in one we will consider... we're also starting to train one of our kids who is now 21...who has expressed interest in the business. So....there's a lot still to decide, resolve and reach.... my main thing now is debt payment down!

Shaun, I agree.... this is really counting on not an expensive standard of living.... and to be honest...more then retirement....we're looking to be free of debt to explore more opportunities and not be tied down to a place or responsibility.

As far as current cashflow...we're between $150 to $400 depending on the property.

In reality, we should have stopped buying in 2013...but it's hard when you see a good deal! Anyways...this year and next will be focused towards paying off debt...we shall see. If we succeed...we can be ready to retire....within the 5 years original goal!

Thanks guys! We continued to purchase properties till last year, we currently own 25 doors. To respond to Chad S. we work in the Lincoln Ne. market and business is good here! That being said...our vacancies are maybe 5% a year... and once a unit gives us notice of Vacancy, we start marketing it for rent and in general it rents right away. We take 2 weeks to do the touchups, change broken blinds fix anything needed and then a through cleaning and carpet wash before the new ones move in. Every once in a while....we have evictions, but thank God...not often (we had 2 in the last year 2 years)...those usually leave the property needing more than 2 weeks turnover. Hope this info helps you guys. I'm more than willing and happy to share all I can!

Personally, I think it is cost effective to hire a manager when you start going crazy and it can start affecting your well being. :) Just kidding.... or a little of truth?

Bobby,

You know, we did have 3 paid off, then we did a HELOC on them to purchase more and so on so forth. We basically have about 5 of the single family houses that will be paid off within 4 to 6 years, if we don't borrow from them again. We usually purchase what makes sense, price wise in Lincoln, you can find anything from about 50K to the millions. We have properties from $50k to $200K. Although, back when the housing market was to the floors, we did purchase a couple of properties for $15K and $25K. We don't find those anymore. :)

Thank you! you know sometimes I feel like ...oh my goodness I'm not going to make it and I'm way off track... but thinking about it better to see all possibilities now then after you thought you were done. At least I tell myself that.

Hello all! 3 years later ... There are good news and bad news... I did work only our rentals for the last 2.5 years.... We were doing really well..... Now I feel a little overextended. We now own 25 rental doors.... BUT ...I have promised my self that we will not purchase this year. ;)

We have a set goal...pay down debt! That being said, I'm back in the workforce!

Welcome Matthew!
There is a lot to learn here.... this site has information on all of your questions... please make sure and take the time to start reading... time will be your friend in trying to get up to speed in real estate. You have taken the first big step....which is getting started ...congrats !
I will tell you... a low credit score can slow you down a little but it will not stop you... learn lots, go forward and good luck !