All Forum Posts by: Joe Delia

There is close to a 0% chance this guy killed himself with a 8-9 nail gun shots. That's insane. The pure pain of the first couple would be done for. I don't believe it for one minute.

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Originally posted by @Account Closed:

Hola bigger pockets-ites,

So an agent at Quicken Loan today told me if I want to get a multi-family that is more than 2 units, I would have to put down 25% down payment as a rule. Has anyone heard of this? I'm qualified for FHA loan since I'm a first-time home buyer. I thought you only have to put down 5%, granted I live in Boston. Any ideas?

Hugh someone must have made a mistake or misheard you. It's not 25%. If you message me your info I can have my wife reach out to you and either she can assist or she can set whoever you spoke with, straight.

LMK

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Hugh, my wife is at quicken and is licensed in MA. I'll 2x that your banker didn't just make a mistake.

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Hire professionals and get it over with. You don't mess around with bedbugs.

Also, be sure they are bedbugs, we had bat bugs which are similar to bedbugs and it was much cheaper and easier to get rid of.

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Originally posted by @Troy Fisher:

First off WHY ARE YOU PAYING FOR PEST CONTROL?!? This is a tenant responsibility! Do Pest Control between move-outs and maintain pest control on the outside of the building (assuming more than a SFH!). I paid for the first round of Bedbugs in my 4plex. And kindly pointed out the clause to my tenant stating they were responsible for all pest-control afterwards. They whined and bitched when the other 'unit' brought in bedbugs, but I shrugged kindly and had my pm give them the number to the pest control company.

Monthly pest control will kill your profits. Do it once and they will want it done again, and again, and again. Whether you have pests or not!

This is terrible advice. Neglecting bedbugs will lead you straight to the court room and you will get smashed.

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Originally posted by @Bryan Elkus:

Thanks @Joe Delia May not be. But I'm getting close finally diving in.

If you haven't yet, go to local REIAs. Get place to get a "pulse" on the local market and bounce ideas off guys out there doing and living it everyday!!

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I'm at Renegade every meeting and have spoke at it as well, message me who you're contacts are, I'd love to take them to lunch sometime.

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Originally posted by @Carson M.:

@Joe Delia

It is more of a comfort thing. I am young and have never been a landlord. Ideally, I want to start off in a little nicer area that I know well, maybe a little less risk, and get a feel for things. I have the assumption that tenant quality would be better in the areas I mentioned above, but in all honestly I really do not know. My goal is to buy a house before this summer and get a feel for PM side, and decide if this is something I want to dive into deeper. At that time, if I am willing to take on a bit more tenant management risk, then I will look into expanding my area to cheaper, more working class areas.

In the mean time, I think I am going to try and go to a few rental open houses in a Hazel Park or South Ferndale area and get a sense of the crowd, find out who I may be renting to if I did invest in those areas.

I have a pretty good grasp of those markets. I fact, I know someone looking to sell in north ferndale, solid price. It's a former rental and i'm sure he'd be open to talking about the tenant base he's had in the area. Call me and we can talk about it

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Welcome Bryan! What are you waiting for? RE isn't THAT complicated. Most things can be done on a simple calculator. Jump in the deep end buddy

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Originally posted by @Carson M.:

To the posts above about Ferndale, I have been studying the market for about a year and a half. I have pretty strict requirements about location within Ferndale. I want to stay out of the Hazel park school district (east of Hilton) not too close to 8 mile (north of Marshall) and at least a few blocks from Oak Park/Royal Oak Township when S of 9. 1-1.5 years ago, I was seeing many good rental deals in the 40-70K range. unfortunately, I found a 5 br home to flip that sucked up a lot of my resources. Since then, prices have really gone up- especially closer to 8 mile and Hazel Park. I am less optimistic about finding a good deal in Ferndale, although I do always keep a tab on the market.

Why do you want to stay out of hazel park SD?

Client bought a house for 63K in that SD in Ferndale last feb, today the latest comp is 110K. She's invested roughly 1K into it since purchase.

If the comps are also hazel park, whats the problem?

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All Forum Posts by: Joe Delia

Joe Delia has started 11 posts and replied 783 times.

Post: CEO of American Title in Denver commits suicide

Post: 25% down payment

Post: 25% down payment

Post: Does Diotemacous Earth actually work for Bedbugs?

Post: Does Diotemacous Earth actually work for Bedbugs?

Post: Newb from Ann Arbor, MI

Post: Who thinks Detroit will turn around within the next 5 years?

Post: Who thinks Detroit will turn around within the next 5 years?

Post: Newb from Ann Arbor, MI

Post: Who thinks Detroit will turn around within the next 5 years?