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All Forum Posts by: Ahmer Khan

Ahmer Khan has started 1 posts and replied 4 times.

Quote from @Amber Forkey:
Quote from @John Alosio:

@Ahmer Khan

This should not be an issue. 

If your renter pool is big enough, there should be no need for a rent discount. 

If you happen to come across someone who doesn't like it, there should be someone right behind them that will take it.

When I was renting, I lived in places with this setup. Never even thought twice about it.

Good luck with your first purchase. Don't let little things like this cloud your mind while searching. Keep an eye out for major things like Foundation, HVAC, Roof Etc. Even major issues have a cure, everything has a cost to remedy.  Just make sure to work those numbers into your offer.

Cheers


Couldn't have said it better myself. 

I would also add that it's well worth the cost to have your sewer lines scoped by a professional. There's something called Orangeburg pipe and it's under a good portion of America's housing. Think of a toilet paper roll covered in tar. Now burry it under thousands of pounds of dirt and wait. Even better, maybe plant a few trees next to them. They're ticking time bombs and can cause continuous sewer backups (especially if you have wipes and such going down by your tenants). A few different remedies exists but depending on how badly they're damaged, it may require a line replacement which is quite costly. 

I doubt you'd have much luck but try asking the listing agent if there's a history of sewage backups in the building. It may give you some insight as to what you're in for. Regardless of what they say, I'd still have it scoped. 

Best of luck! 


 Thank you Amber. I'll definitely ask for that.

Quote from @John Alosio:

@Ahmer Khan

This should not be an issue. 

If your renter pool is big enough, there should be no need for a rent discount. 

If you happen to come across someone who doesn't like it, there should be someone right behind them that will take it.

When I was renting, I lived in places with this setup. Never even thought twice about it.

Good luck with your first purchase. Don't let little things like this cloud your mind while searching. Keep an eye out for major things like Foundation, HVAC, Roof Etc. Even major issues have a cure, everything has a cost to remedy.  Just make sure to work those numbers into your offer.

Cheers


 Thanks John. Being a remote investor is a bit daunting. But I have to trust the inspection report and my realtor to help me in the process. I did make the offer this morning and will factor in any repairs that will need to be made in the end. Hope to hear good news back maybe tomorrow.

Quote from @Account Closed:
Quote from @Ahmer Khan:

Hi all,

I'm starting off on my investment journey and am looking into putting an offer into a duplex in Cleveland.  The place I'm interested was renovated recently but when I looked at the pictures closely, I noticed that the entrance to the bathroom is right next to the kitchen area. I'm wondering if this would adversely impact from me in getting this rented out quickly. I understand that this is not ideal but wanted to get your thoughts.

Appreciate the feedback.

FHA used to not fund properties like that, I'm not sure if that has changed or if you are involving FHA or VA, but check with your lender first.

Thanks guys. I'll factor in the bathroom situation in the offer. 
About the loan, I'm using conventional financing. 

Hi all,

I'm starting off on my investment journey and am looking into putting an offer into a duplex in Cleveland.  The place I'm interested was renovated recently but when I looked at the pictures closely, I noticed that the entrance to the bathroom is right next to the kitchen area. I'm wondering if this would adversely impact from me in getting this rented out quickly. I understand that this is not ideal but wanted to get your thoughts.

Appreciate the feedback.