All Forum Posts by: Chad Kastel

Hire an owner's rep. They are a GC that doesn't work for the GC. They work for you and make sure the GC stays honest.

The answer is multi-faceted. Not one way is necessarily correct. It also depends on your risk tolerance and goals. What is the interest rate? What is the risk of finding a tenant? Are you in a great school zone where the tenants will never be empty? What's the economic profile of your tenant? Are you section 8 tenants where rent is guaranteed? Are you in a city where your tenants are working for tech companies therefore more likely to be affected by an economic downturn? The more risk your tenant is. The more expensive the interest rate, the lower the LTV I would want. generally speaking.

They can be. But who are your target tenants? Are they communicating somewhere?

Purchase David Green's how to buy out-of-state book. When I started I used a combination of RE agents, GC's, and PM

This can be common where buildings are older. You need to check comps in terms of bill back. If all your competitors are providing utilities you should as well. If they're billing back then you can as well

interesting. What class of units are you purchasing? Have you had any pushback or complaints from residents?

You're going to need to find the sales comps and see what does adding an apartment looks like. Or what does adding a kitchen/bathroom look like? Answering that question without the comps is impossible

This is a math equation. How much additional rent is converting the 2/1 to a 3/2 going to bring? What is the construction? How much equity does it force? How much money will your mortgage go up? Have you considered asking the bank for a construction loan or taking an HML

Yes, this is possible. You need to speak to your bank about assigning your unit a rent price so that gets calculated as part of the appraisal when you go to refinance

Start with a city or area where you know people who could be boots on the ground for you. Or can make great recommendations locally.