All Forum Posts by: Brandon Wallace

My friend is the property owner. She is moving to Texas and I am the property manager because I live in the area. Essentially, we would like her to be able to be hands off and I’ll take care of it all. 

My first question is, what should I set for a cleaning fee? Our cleaner said she would charge anywhere from $100-$120 per cleaning. Right now we have the cleaning fee set at $50/stay. Is $100-$120 too much to charge for a cleaning fee? To me, that seems very high. 

Also, any other advice would help a ton! We are both brand new to this. I currently own one rental but I am new to the STR's. Thank you in advanced!

The Airbnb:  https://www.airbnb.com/l/Wpo4lJUc

So over 2 years ago I bought my first investment property. It's an upper/lower duplex that me and my fiancé live in while renting out the upper unit. We are looking at getting another investment property. We don't have much cash on hand to buy and fix up our next property. We've looked into the refi or HELOC paths. We don't want to do a cash out refi due to having a 2.5 interest rate. So we were leaning more towards a HELOC. Is this a smart move? Why or why not? The property we want has been vacant for 2+ years now and it's 4 houses down from us. I Would offer the owner no more than $85,000 and probably needs $30,000-$50,000 worth of work. I Can probably rent it for $1,200-$1,300 when it's all done.

Hey guys! Wondering if anyone does rent to own contracts for their rental properties? Currently reading a book by Kris Krohn, about how rent to own contracts with single family homes are better than renting out a duplex because there’s more avenues to make money from. Curious how these contracts work. I can’t find much online about it. 

Hello, I am super interested in wholesale real estate and need to get started. Looking to see if there's anyone out there that have experience and are willing to mentor me, give me do's and dont's, have proper legal pre-written contracts. Any info would help tremendously! Thank you

I'm about a month out from finishing the rehab on the property. (I own a upper/lower. Upper is being rented out for $990/month and my mortgage is $760/month. I plan to live in the lower unit when finished) I have a 2.88% APR which is good! But my question is, would it be a bad move, financially, to do the cash out refi when interest rates are now as high as 7%? Would like to buy another property soon but would need the cash out refi funds to do so. Should I wait for interest rates to go back down?

I have my first rental and plan on buying more throughout the years. What is the smarter move when it comes to spending your rental income? Use it to pay off the houses quicker so I can have even more rental income in 15-20 years? Or use the rental income to pay for my other bills in life? (Car payments, groceries, phone bill, utilities)

I’m 23 years old, working a full time construction job. I just bought my first duplex and plan on using all my free time to rehab the property (mostly doing the work myself). Once finished l’ll have a tenant in the upper unit and I will be moving into the lower unit (currently living with my parents) what is my next step to getting more rentals quickly and adding more properties to my portfolio? Thank you