All Forum Posts by: Andrew P Angerer

Maybe choose a good property manager, and buy in a landlord friendly state that has a lower cost of living?  I own a 3/2 1100 sq ft home rents for 1300 valued at 160k.  How many of those could you buy with that kind of equity?  You wouldn't even have to put a mortgage on the first few.

I am still working to build contacts and base for our Mid term rental.  It seems that here ltr rate is 1300 and furnished is 2300ish.

Not sure about your actual Equity, but...  Why not sell, do a 1031 exchange to a smaller market that cash flows better?  I know locally an 1100 sq ft home that I own is worth 160k, rents for 1300ish.  That may not be 1% on a turnkey property, but If it was all equity there would be cash flow.  I am aware a 1031 requires higher purchase price, you could buy more than one.  Maybe look up that guy who wrote small and mighty, Chad Carlson.

We are trying to look at numbers, I understand that cap rate is not all it is cracked up to be, but what are properties like this trading for on average right now?

Dscr lender, Futures financial.

I Guess not.  We are trying to finish the second house and should be done in 3 weeks.  That is where most of the money is.  The home we are trying to refi was financed at 105k, we have 20k in it, it appraised at 176k, rent will be 1300 a month and we will probably have it rented by Monday.  The second home has a hard money loan at 85k, Arv will be 154kish and will rent for 1250.  They are right next door to each other, both single family homes.

We were in the process of refinancing a hard money loan on a property, looks like we are about to be declined because we only have about 10k we can show right now.  The big problem is that between this and another home we have not finished yet we have 60k cash into the two projects.  The lender is looking at us as being not liquid enough, but without refinancing the two properties, they are right.  Does anyone have a suggestion  how I could get past this point?

The way we do things are as follows:

1. Non-Refundable Pet Fee of $250 per pet due at same time as deposit.

2. $25 monthly pet rent for each pet added to rent.

3. 40 pound limit on pets and no more than 2 at any given time.

Also, we only allow pets on rentals that have a yard (ex. SFD)

Hope this helps.

We are matching Tim on our policy.  We charge 250 per pet fee and 25$ a month pet rent.  We also have size limits on Dogs and Lamas.

Some sellers give an impression of competition that isn't very solid.  Know your numbers and make an offer that works for you.  Sometimes they just don't want a lowball offer.