All Forum Posts by: Adam Roberts

Man this post reminded me of being in college and having a room mate do this to us..... we were able to find someone, however we had to fork over his share of the rent for 3 months while we searched.

You didn't specify, but I assume these are students (OSU)? Did you require their parents to guarantee the leases? I remember having to do that back in the day.

@Craig Price - I think you'll find that it depends on your financial goals & objectives. If you seek to max out cash flow, the longer amortization will help you there. If your exit strategy or financial goals warrants a shorter amortization you go with that. A lot of commercial loans and owner financed deals will have shorter amortizations. In general you'll find a lot of folks chose to max out their use of OPI and thus go for the longer term loans.

Welcome to BP, by the way.

Adam

welcome to the team, @Philip Magee . A lot of folks here from DFW. Look forward to meeting at a future event!

@Justin Rostant welcome to the team! there is a strong contingent of DFW members here. Don't hesitate to reach out with questions.

Adam

@Anibal Zapata - it sounds like you understand the fundamentals..... I haven't been in rentals that long but I think you'll find that you/parents need to attempt to get closer to market rents IF your properties are in decent condition. Ever thought about hiring property manager to do that for you? Something to consider.

Also - not sure about local laws but the month-to-month contract can likely be given a 30-day notice to vacate or pay higher rent.

Welcome to the site @Account Closed . Two big things to consider (this coming from my agent business partner) are who to first hang your license with (i.e. what broker), and whether or not you want to work on a team or individual basis. There are big brokers out there that do a lot of traditional real estate brokering, and then there are smaller "mom and pop" brokers that will likely give you more freedom financially.

Welcome to BP!

Adam

Welcome to the team @Nancy Rhea . Be sure to check out the next DFW BP event, they are usually scheduled and announced here on the forums. I missed the last one, but have been to the rest, they are great.

Adam

Welcome to the team Josh - I'm from the 'burbs of Philly as well (Lansdale), plenty of good stuff here at the site.

Adam

Welcome to the team @Jason Greenway !

@Lawrence Ratliff to echo others' comments, during due diligence you want to know 1) when last time roof was repaired (hail common) and 2) what and when foundation work performed along with warranty info. These will biggest maintenance expenses over investment time horizon that don't necessarily add equity or value, in most cases.

SFR in my area pass HOA expense onto renters in some cases, as many people may favor the amenities of the HOA over a community without one... Pools, nice landscaping, etc.

Are you looking more at working class neighborhoods or nicer upscale? What is your price point?