All Forum Posts by: Ben Zimmer

@John Chapman , thanks for clearing "hardening" up for me! I was a little confused there for a minute but I think we are on the same page now. You're right, I like to go in after a unit is vacated to see if there is anything I can do to make it a bit more "bullet proof". So far, I've been able to get into every unit and I think they should all be in pretty good shape. Also, thanks for the advice for the bigger things and I think they are nowhere close to being unsafe so I should be able to let them sit for a bit. To answer your question, the building was built in 1955. Another question I would like to ask is what do you keep for emergency funds? I currently have a little over six months worth of expenses beyond what I'm saving for my next investment, is that about right? Again, thanks for the information!

Thomas: Thanks for the support! I'm working on my commercial now and sometimes it feels like forever will hit before I get my first job. Luckily, every time I fly, I'm reminded it is worth it. I used to live in Vegas! With the weather we are having around here lately, I miss it more often than usual.

John: I plan to hold on to this property as long as it makes sense to do so. With 3 of the 4 rented out, I am breaking even and the fourth is all profit so I don't believe it is underperforming. I am thinking more along the lines of your second point, I would really like to get it to a point where there is minimal maintenance. Thanks for the advice! I get what you are saying by not removing stuff that is working properly. There are a couple smaller projects that I can think of (leaking basement door, securing the staircase outside leading to the basement) that should be addressed before I hit the bigger stuff. How can you tell when it is time to replace the major systems I mentioned in my original post short of an electrical fire or a burst pipe? Also, what do you mean by hardening the floors? I tried a quick google search and it just turned up hardening concrete floors.

Again, I really appreciate the feedback! I need to get more invloved on this site.

Hello all, I am a beginning real estate investor who purchased my first investment (a four unit apartment building in Omaha, NE) property in September of 2012. I had plans to use the income from my previous job to invest in more properties to get a good start and take advantage of my young age. However, I have decided to pursue my goal of becoming professional pilot and have since gone back to college / taken a much lower paying job. Because of my current circumstances, I don't think I'll be able purchase any other properties in the near future. Instead, I would like to focus on updating my current property to add as much value and get it squared away so that when I am in a position to purchase more I will not have to worry about this one. Overall the property is in good shape, however, both the plumbing and electrical are fairly dated. I am looking for tips on how to prioritize my laundry list of improvements. Any questions are welcome and any suggestions would be greatly appreciated!

Hello all, I am a beginning real estate investor who purchased my first investment (a four unit apartment building in Omaha, NE) property in September of 2012. I had plans to use the income from my previous job to invest in more properties to get a good start and take advantage of my young age. However, I have decided to pursue my goal of becoming professional pilot and have since gone back to college / taken a much lower paying job. Because of my current circumstances, I don't think I'll be able purchase any other properties in the near future. Instead, I would like to focus on updating my current property to add as much value and get it squared away so that when I am in a position to purchase more I will not have to worry about this one. Overall the property is in good shape, however, both the plumbing and electrical are fairly dated. I am looking for tips on how to prioritize my laundry list of improvements. Any questions are welcome and any suggestions would be greatly appreciated!