All Forum Posts by: Caleb Crockett

@Cassi Justiz, I did run the numbers assuming a rent increase of $150 total . I’m ok with keeping them far enough below market that it’s worthwhile to stay, but we’re talking a difference of $550 a month combined. No idea what their income looks like. 

@Cody Neumann, How often would you raise it by $50?

Sales price? My agent got it off market, seller was asking 275, I offered 275, they accepted, no one else had access to it as far as I know.

It will be a new lease, they are currently month to month, I was planning to have them sign 1 year leases? How frequently should I increase rent assuming that the $1400 a month is fair? Annually? I’m ok with staying below that long term as it will still cash flow (I think 😅). First property ever btw. 

Oklahoma City, just east of Lake Hefner, good area with good schools.

Duplex, 3 bed 2.5 bath 1400sqft each side

$275,000, traditional financing, 20% down, paying around 4.375%, maybe a little better, finalizing the loan today.

Comes with long term renters paying $1100 and $1150, but this appears to be below market and hasn’t been raised in years. My agent says I could comfortably raise it to $1400 each side. Being that I don’t want to pull the rug out from under these people, I’m considering raising rents to 1200? 1250? 

Thoughts on raising rents? Thoughts on my loan rate? Thoughts in general?

Bryant Long Distance Real Estate Investing was next on my reading list, I’ll add the other two. Why did you settle on Indiana?

Thanks for the responses everyone! I am renting currently. House hacking would be a viable option, or purchasing a 2-4 unit building. I think I can get a better cash flow in other markets for less. 

Hey BP!

I’m brand spanking new. I’ve been interested in real estate for a long time and never knew where to start. I like the idea of passive income. I work a full time professional job that I’m not intending to replace but I want to make my money work for me short and long term. Short term goal is to buy a rental property that cash flows. Medium term goal is to expand from there with a few more and make a decent income that I could survive on if I had to. Currently reading the ultimate beginners guide. I live in San Pedro, Los Angeles, CA. Excited to be here!