All Forum Posts by: Chip Marchand

@Tanvir Sattar Heard that from quite a few folks on BP, in fact, just got off the phone with a fellow investor and realtor regarding Toledo, excited to dig in and see what I can find. Thanks for the input.

Looking for markets out of state to invest in as the market where I currently live and invest in is at a point where SFH buy and holds that'll return a decent cash flow are few and far between. I'm specifically looking at a few markets in OH and IN, but open to suggestions of other markets where others have had good success and stability. Anyone currently investing in these states, specifically which markets? Extra credit for out of state investors willing to mentor or provide guidance on out of state investing. TIA!

Starting to explore the possibility of buying a beach house and renting it out when we’re not using it. From what I’ve read, the prop mgmt fees tend to be much higher for many reasons. Is there a certain rule of thumb such as the 1% rule when evaluating vacation homes or a certain cash on cash return % to shoot for? Anyone have any good tools/spreadsheets already developed to help evaluate vacation homes? any other advice is appreciated.

Interested in purchasing a beach house or condo to rent when we’re not using it, looking for book recommendations on successful strategies to turn a profit.

Looking for some advice on a rental property I just purchased. The inspection report indicated that the electrical outlets were not grounded or “open ground.” In talking to an electrician it would cost $900 to completely ground the house or they could install GFCI at the beginning of each circuit for $550. Technically the house is not out of code, however, if there were to be an electrical surge it could damage appliances plugged into ungrounded outlets or potentially cause a fire. Has anyone dealt with a similar situation and is this something that I need to spend money on before placing a tenant due to safety or liability risk? Thanks.

I’ve read Bigger Pockets The Book on Rental Property Investing and am interested in some other suggested reads for someone who is starting off and looking to learn more. TIA!

After months of reading, research and talking to lots of real estate investors, I’m looking to purchase my first investment property. Question is, in your opinion or experience, what are the best and worst times to list a property for rent? I’m assuming we’re moving in to the slower time of year where properties run the risk of sitting for an extended period of time?