All Forum Posts by: Ryan B.

There is nothing wrong going for higher end rentals. There is also nothing wrong going for low income rentals with higher cashflow. I do a little of both. I have a couple low end rentals and plan on picking up 1 or 2 more. I then take the excess cashflow and invest that in higher end rentals in great neighborhoods. Right now I only have 1 higher end rental, but plan on adding more as I can.

I would go with option 1. Shoot for an early 80's Chrysler mini van. I still see them everyday here in the Midwest. Never once have I seen them broken down on the side of the road, granted they usually are blowing so much smoke they probably require a quart of oil each time you hit the gas station though.

Grow the mullet, put on the blue blockers and rock that beater. Don't worry, the fake wood paneling will scream sophistication.

I just put 1500 sq ft of EPDM rubber down on a flat roof. Ran about $1300 for materials and I paid my contractor about $400 labor. In my experience rubber will last longer than the rolled asphalt roofing.

My suggestion would be stay away from flat/low pitch roofs, they are a pain in the butt.

Go on....I'm all ears

For the 25 cents or so it costs I always replace switches, outlets, and covers when I purchase a property. Unless they already look new, then I will leave them.

I am in the middle of a rehab right now that they are loaning me up to 85% of the ARV. Bought for 20k will end up putting 12k to 15k into rehab. House appraised for 65k. In the end I will get my earnest money back and have a rehabbed rental for free. Small local banks seem to be more flexible with investors.

Go talk to a small local bank instead of one of the big boys. Right now I can get loans with 15% down.

I agree with Nathan. If I am buying for rental purpose only I don't care if there is 10 sq ft of lawn or a full acre, if the numbers are good I buy it. I have not noticed it taking any longer to rent a house with a small yard compared to getting a house with a big yard rented.

Now if I am buying a house to rent for awhile and play the appreciation game, then yes I do look for a big yard.

I don't charge an application fee since I do not run a credit check. I know most of my tenants are going to have bad credit anyways. I do a criminal background check by using the county's website.

Happy to report that I was back at the rehab today and the furry little thug was nowhere to be found. I did look in the attic and sure enough there was a ton of acorns, walnuts, etc. He must have been mad that with the new roof he could not get to his stash. I set most of the nuts under a tree outside so he could still have them for the winter.