All Forum Posts by: Brendan Lawrence

after rereading my original comment and then @Anna Sagatelova's i agree with her. you can not say "great place for students". you can talk proximity to other locations, like the medical campus or hospital tho. 

Welcome Luisa!

so much to read and do!

hey Jovan,

great job getting started. cheap places to advertiser would be bing, google or facebook. you could buy lists from a listserv and send out postcards. you could drive the neighborhoods you are interested in, write the addresses of places that are in need of repairs, or not kept up with, look up who owns them in the state database and start sending letters, calls or emails.  

just a couple ways. there are many more. good luck out there,

Brendan

hey Marcin, you'll have to be careful, it's not who you accept but who you don't accept. it seems like in your post your would turn down families or non students. best practice is to show the place to everyone who is interested (within reason), then be consistent with your rejects. 

however i don't think it would be illegal to say in your advertisement, that it would be a great location for students. or close to the medial campus?

good luck out there, 

Brendan

love it! great deal! cool strategy using the rest of the portfolio!

hey Russell, 

i pretty sure the leases will dictate the value. so if the leases show the cash flow you'll get it. IMO

hey Hamid,

what state are you in? what does your lease say? most states or localities have your issue codified in law. as the landlord you have to follow the letter of the law. i would consult that. if they want court, you might find it cheaper, quicker and easier to make a settlement. 

Hey Justin, nice post!

what are you looking to do in the internship? 

Hey Maurice,

i'm unsure what you're asking? if this is a good deal? or are you trying to sell/wholesale this?

if selling it, that 25% down and 7% interest is killer, you can get 10-20% down right now at under 4% from many reputable lenders. 

i would pay the higher interest rate if the down payment was lower or vice versa, both keeping in mind that'll have ot be refinanced at the end of the balloon. 

Hey Lior,

cool project you're working on. as you've stated the roi on a finished basement is low or even negative. but an extra bathroom and if possible a legal bedroom might change that. depending on the setup, i would put them in this order, an extra bath will have the highest return, then the bedroom and finally finishing off the rest of the space. 

if possible consider just the bathroom, and then "finish off" the rest of the space as either storage or a laundry room. nothing fancy. if the value is there and you can make a legal bedroom, also include that in your math. however past those two rooms i don't see the value in finishing the rest of the space. basic lighting, or a laundry setup is as much as i would personally invest in this extra space. 

i wish you luck