All Forum Posts by: Dennis Nemitz

Kirk, I would have to pay for water.

Joel, I will be financing it. My PITI would be around $1300 per month. Current rent is $1650 per month. Mid level market rent would be $2400 per month. It needs painted inside and out, new carpet, and has a foundation issue that will need to be repaired before purchase. Should I be running? It is in a great neighborhood, the rental market is strong.

I am not sure, I am worried a little about having to evict too. Not sure I want to start off my rental venture with that kind of mess. The property has a very good income potential though.

The current owner told me they were. But he also told me one renter has had some issues paying on time. If the owner won't tell you, there is probably no way to tell.

I am looking at buying a tri-plex. The current rent is from 1998, can I raise the rent on one apartment at a time? All the apartments smell bad and are dirty. I will have to paint and replace carpets and I do not want them all empty at once. When I raise the rent I suspect that the tenants will leave which will be ok with me. They are all on month to month rental agreements.

I am sorry Stephanie, I do not know what CF, COC ROI mean.

I am looking at a property that will have $1300 per month in expenses and gets $1600 in rent from established renters. There will be significant room to move on rent in the current market, but I will only want to raise it when the current renters move out. It has been well maintained and is in a great neighborhood. It is no where near the 2% rule, but at about 1%. Should I run from this deal?

This may sound like a silly question, but here goes. What color scheme seems to work best to make your property more attractive to renters? I need ideas for interior and exterior. Thanks

Thanks a lot, this advice is very helpful.

If I wanted to raise rent $200 per month to get price up to market level, is it best to do it in increments of $50 per month, or all at once?