All Forum Posts by: Amad Osman

@Mike Dymski that’s very intriguing. I spoke with a rep at Realty Mogul who mentioned something similar. Definitely an investment vehicle I need to learn more about. Thx

Pros for real estate:

1- Depreciation would allow you to offset taxes thus increasing your net.

2- leveraging increases your cash on cash returns.

Pros for a passive investment:

1- it will take less time and energy. If you’re a high earner this may be justified. 

Personally I want to have more control and the opportunity to maximize my returns through value add investments... it’s fun for me!

Thanks everyone for the valuable feedback and tips.

Well if we as landlords are forced to accept pets, we’ll have to figure out ways to manage the risk associated with pets. Some thoughts .. 

1- Perhaps 6 month leases with inspections prior to renewal.

2- pet Insurance to protect against property damage?

3- any way to seal underpayment with Killz or something similar?

4- weight and age limits?

Sorry if any of these suggestions sound stupid. I’m a newbie.

@Jonathan Pflueger thx! Would definitely go with the waterproof product. 

@Michael Badin thanks for the advice. This will be under my LLC. I was surprised to see the rebuild cost as high as 2.5 times the purchase price. I was also surprised to see one agent quote a rebuild cost $100,000 less than a competitor. I wonder if an inaccurate estimate by the insurance carrier could come back to bite an owner in the event of a disaster that would require a rebuild.

I know the best approach to pet-proofing is not allowing pets, but based on a recent discussion with my new property manager new tenant laws may require that Landlords allow "comfort" pets.  So that being said, I plan to go with Vinyl Plank flooring through out my units whenever I have replace carpet. For those of you with experience renting to pet owners do you think Vinyl Plank is the best option? Any other suggestions?

Hey Michael,

Welcome to BP. I've been considering WV too and would be interested to hear what other investors think. I know I have read that you should not invest in areas with declining populations, but if it's good enough deal well below market is not worth the risk?  

Another concern I have about WV is the drug epidemics that appear to hitting the State really hard.

Amad

Hey Guys,

I'm closing on my first investment property next week (a 6-unit residential property) and I'm shopping for an insurance policy.  For commercial units what factors should I be considering other than the obvious policy cost and deductible when selecting a policy?  Thanks in advance... 

This is what makes this Country great. If you are willing to work hard, sacrifice and invest rather spend all your earnings, you can make it big no matter who you are! Great story, congrats!