All Forum Posts by: Michael Modesto

I'd agree with what @James DeRoest mentioned above.  Get them out of the home upon closing!

If you do decide to allow them to stay for a short period of time, I would investigate the feasibility of putting them into a short term lease contract, just to give your "arrangement" some structure.  This gives you a clear path to get them out.

Do you think this is a condition for the current owner to accept your offer?

@Mason Pastore

Here is a question for the more experienced experts out there...

If all factors (neighborhood, quality of home, repairs, etc) are the same, would you view a fourplex that costs $160K (or $40K per unit) the same as a SFR that costs $40K?

In this scenario, assume that both properties are next to each other. The SFR is only $40K for a reason. Would you look at the MFH next door any differently?

Sure, please send me the details via PM.

Toledo is not high on my list, because I don't have a team set up in that area yet.  However, I'll take a look and consider.

Thanks!

M

Hello all.

I'm searching for small multi-family investment opportunities to add to our rental property portfolio.  If you have any on your radar, please send them my way.

• 2-4 units 
• Solid A & B neighborhoods only.  No warzones.
• Renter occupied ok, with solid history.
• Kansas City preferred, but will consider other areas.

If you have anything that matches these criteria, please send me the details.

Thanks.

Michael

Hi @Lolliann Bruce.

I would be interested in more info.  Please PM me the details.

Thanks.

-M2

@Gilbert Ross Jr

Could you provide more details on how "distressed" this neighborhood is?  Is the property in NJ?

@Darrell Lee

Wow!  I've accidentally spent $550 on a lot worse.  :)

What types of fees would you incur on properties like these?

@Courtney Merricks

Great job on taking action!  I too had to push myself to take the first step... and once you've done so, focus on the next step.  I'm learning that once you get into a cadence of action, the momentum snowballs, so keep it going!

-M

When inspecting a minor faucet leak one time, I had a tenant complain to me that she was hungry... like it's my responsibility to take care of her.  Her kitchen had food in it... not sure what she expected me to do.

@Eyal B. 

Great job, buddy!