All Forum Posts by: Chrissy Disch

@David Glass Thanks!  Much appreciated.  Hopefully Mr. Bentley has some availability!

So the normal person I would use to do a due diligence inspection is unable to do so. (High risk category for Covid unfortunately)

I'd love to get some suggestions of someone to use.  This is for a early 1900's property that has been a long time rental and will continue to be so.  

In a hunt for investment property, I have come across some solid options for rental cash flow- but with low purchase/sale value.  I would prefer to be leveraged in all rental properties rather than all cash purchases to maximize cash on cash returns.  Are there lenders that work in a sub $20k-30k range? 

@Heath Ryans  Thanks!  I am thinking along the same lines, building up cash for the next purchase.  Just trying to figure out the nuts and bolts of a strategy.  Build up that account until I have enough for my next property and a 5-10k cushion?  What is your strategy for when you can pull the trigger on your next investment?

So I have learned quite a bit on analyzing rentals from a cash flow and risk standpoint, but when it comes to operations I am less sure how to operate.  How do you 'pay' yourself the income, how much and where do you keep the expenses you denote things like cap ex/repair/maint/vacancy/etc?  What do you do when that pot of stashed expenses gets rather large?

Does anyone have tips on how much to actually keep in reserves and what to do with the cash you denote as an expense once you go beyond your desired level of reserves?  Do you just let that pot keep growing on the chance you might need it? 

My specific question is around sub 50k rental homes.

Pretty self explanatory subject.  What things can you (and should you) be asking the agent or owner of a property prior to deciding if you want to make an offer on a rental property?

Ask for the rents and terms of any current tenants?  To see the lease with the tenant?  Information on the tenant (I wouldn't want to touch a property with a tenant with a lease and lots of evictions, etc)  Age of big ticket items such as roof, appliances, HVAC, etc?

How much can you, and should you, find out before you even consider making an offer?  Obviously, I would need my own inspection of the property during due diligence.

I will be there!  I am a noobie looking to get started!  (And also have been in the Charlotte area less than 1 year)