All Forum Posts by: Brian Bault

 Oh my, I laughed so hard at your story with the alarm!  I needed a bright spot in my day!  Thanks for sharing.  The best part is with the security camera you probably got a good look at their faces!  The security system/self guided tour is great advice for property located some distance away.  I have already begun looking into systems for future properties!

Brian

Greetings!

I am in the midst of purchasing my second rental.  (Yay!)  What is the best way to account for expenses that cross between properties.  Accounting software, property management fees that are not property specific, vehicles (not there yet but... one day), computer, and office supplies.  Thanks for any advice!

Brian

Greetings!

I definitely recommend paying the water/sewer as well.  The positive response I got from the city workers that their workload was going to be easier has paid off many times over.  A little good will goes a long way.  Also, I wish I had known to save in vacancy, capex and repairs when I first started.  It was newly remodeled when I bought it what could go wrong immediately.  Then a couple years later, we had a major flood.  Lots of rain and clay for soil do not mix well.  I had to replace appliances.  Made a rough couple weeks, but I know better now!  

Brian

Greetings!

I am looking at a property close to many recreational areas.  Hunting, fishing boating etc.  What kinds of things should I do to estimate what proceeds I might get for short term rentals, what amount of vacancy should I plan for and what general procedures should I look at for billing always prepaid or something else!  I appreciate any advice. This is something I have never considered doing before!

Brian

@Jason Bott I am still new to this.  Would the umbrella policy replace the homeowners for each property?  Also, can it reach across state lines?  I currently have a rental in WI and am looking to purchase one in Pennsylvania.  Thanks!

@Andrew Freed Thanks!  Your advice on the rising interest rates is well taken.  I am going to be just shy of that at about $130 but that plus the addition of a second cash flowing property makes me want to do it!  Fingers crossed the inspection comes back good and I am posting a new deal in a month or so!

Property value has nearly doubled since we purchased here in Western WI in 2017.  I'm late to game on bigger pockets.  I am currently working on a multifamily deal using a cash out refinance to do the down payment.  My hangup at the moment is how much it would reduce the cash flow of the first property.  So trying to decide if I want to pull the trigger or hold off until I can get better financing.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $25,000

Single family home. Have had some ups and downs. When my wife and I began looking to buy a house, this was the very first house we looked at. It needed quite a bit of work. Several years later someone else had done the work and we bought it as a rental. As a first deal, I knew nothing. CoC looking back was 8%. Not great, but better than it could have been!

Greetings!

I am a new investor.  I own one rental property. (Single Family)  I am looking at a deal involving a cash out refinance to use the equity as a down payment on another property.  The new property is a triplex.  What is the best way to examine the "deal" when it involves two properties?

Thanks!

Brian