All Forum Posts by: Christian Bunte

I would also like to get her contact. Looking at some buy and holds that need repair. 

Question for any investor holding rental property in 5th Ward: What kind of tenants are you getting in 2019? 

Can I expect to get good, high income tenants bleeding over from northside/hights? Or is this area still a "no go zone" for tenants who are well off and take good care of your property? 

I am looking at purchasing a well renovated home in the 5th ward (Frenchtown) area for a buy and hold. The numbers work out on the price, but I am concerned about whether or not I can find tenants who can afford rent (~$1300). If only local 5th ward residents are renting, I will have to factor in higher holding fees into my deal analysis. 

Thanks for you help!

NY times published a great article about this topic on Thursday. Even with recent fed cuts and the drop in mortgage rates, home sales are down 2% from last year and residential investment has declined the past 6 quarters . The culprit? 60% increase in average home price since 2009, which has become too expensive for buyers and investors alike. 

It doesn't matter how low interest rates are if housing is inflated far beyond buyers' means. When the housing market doesn't respond to federal stimulus, it's a clear sign a correction is on the horizon. 

The windowless bedroom cannot have a window installed because all 4 walls are interior :( The only way to convert it into a 2 bedroom would be to knock down walls and build a wall in the livingroom to convert it into a bedroom. But this would have to be done for 2 units! 

The code in our municipality states that "The dwelling must have at least one bedroom or living/sleeping room for each
two persons." Does the living room count as a "sleeping room" in this case? Or would I only be able to house up to 2 tenants? 

@Nathan Hughes

Exit strategy, that was the first thing that came to mind when I walked the property. Who is going to buy this place if my rentals flop?

It really comes down to the unit layout. These units are built into a one story house, so only 2 of the 4 perimeter walls have windows. There is very little natural light and I am wondering if that will put off tenants or potential buyers when I sell?

How do you put a price on the weirdness factor of a house when buying a property? Do you think an extremely custom/DIY rental unit will draw in OR push away possible renters?

I just got through walking the most beautifully ugly, creative, creepy, Willy Wonka style home I have ever set eyes on. This place is a massive 4,000+ sqft bright green single story house that was converted into a tri-plex by its eccentric owner. The house is selling for well bellow typical market value, but I don't know if my tenants will appreciate the high ceilings and extra space or be pushed away by the weird tile/room layout?

From what I could tell, the owner was a contractor who used the leftover housing materials from work to piece together an ever growing home... one piece at a time. The result was an (admittedly well constructed) 9 bedroom house with a MASSIVE amount of living space for each 3 bed 1 bath unit. I would like to live in one of the units and rent out the other two, but here are some of my concerns with the odd layout:

1.) Every room has completely different style/color tile in it.

2.) 2 of the units have 1 bedroom with only one entrance/exit? (My realtor said this does not qualify it as a bedroom and could be a safety hazard?)

3.) There exists a makeshift balcony with scaffolding pole railings that was built on top of a DIY storage closet that was built onto the front of the house?! 

4.) The house seems to have been used as one giant storage unit for the sellers hoarding habit. 

Any advice?