All Forum Posts by: Adam Wertz

I’m a landlord and i happen to work for the gas company...If any renter in a property smells gas they should call the gas company and/or 911. The gas company is responsible only to make safe. Life and Property are the main concerns for us. We make it safe by turning off gas to the specific appliance that has the leak or the entire property if we cannot isolate the leak source with an appliance valve. After that the owner of the property is responsible for making a repair before the gas can be turned back on. We as a gas company do not work on the appliances due to liability. We do not charge to respond for leak investigations.

I posted a similar post with the info. The original had the address so I deleted it

View report

*This link comes directly from our calculators, based on information input by the member who posted.

I really appreciate all the feedback. I’m coming from the Dave Ramsey school of thought on some of this and that is mainly why the cash purchases are somewhat appealing to me. I also love the way Grant Cardone explains things such as “the wealth factor” where using leverage is very important. I’m working with a partner/capital contributor and he also likes the cash method. I’m starting to learn that leverage is very beneficial if done correctly but I don’t want to upset my partner if I present to him the idea of more leverage. My main concern is banks calling notes at some point if the market were to shift. Which is how Dave Ramsey went bankrupt. I’m sure there were other factors to that situation that I’m unaware of. 

Hello BP! Was wondering if you think a duplex or 2 unit multi with 2br/2ba selling for around $115,000 to $120,000 and each unit renting for $950 is a decent deal? I’ve run the numbers with a conservative capex and repair budget and I’m ending up at around 10-11%. Property is turnkey or very minimal repairs. Taxes are around $2350. May sound crazy but I really feel I can get a better %. I would also pay cash. Thanks

Thanks for the reply. Main reason for the cash in the beginning is to build the foundation. After I get the first few properties I will be more comfortable leveraging. I'm not against leverage starting out I just think it's a bit less risky. If I buy 4 free and clear they would build up cash pretty quickly to start dropping 25-30% down on future deals. I found a 5 unit mixed property today for $100k that brings in $1850/mo just in the 3 upstairs apt's. Downstairs has 2 store front units that I may convert at least 1 back to an apartment if I were to buy it.

The LLC I set up in PA cost almost nothing. All the fees were waved for veterans and if it's a 50/50 split in ownership the whole thing can be done through the Department of State on your computer. Only reason for the attorney really is for an Operating agreement. That info came directly from the attorney I sat down with. He was super helpful and didn't charge me to pick his brain for 30 min. I would definitely sit down with one even if they do charge a consultation just to see if it's necessary to have one and the steps you should take.

Hello everyone,

      New investor here from S.Central PA. Looking to get into a duplex very soon for a first deal. Will be doing a cash deal on the first 2 unit for around $100k and then soon after repeat the same thing. I would love to have 4 units in 12mo and get to 10 soon after. First 4 units will be cash and then finance the next few over time. I've done a ton of homework and I'm currently building my network. If anyone has any good pointers I would greatly appreciate it!