All Forum Posts by: Brian Faulkner

Scott F. You are being results oriented, your example is a single property, and you are stretching your logic to justify giving money away. "I’ve given them $250.00 in five years, oh yea, I put new carpet in the living room because it was old when they moved in – maybe $400.00 (installed)." -what does the carpet have anything to do with your initial post? You either have set money aside in your business for capex repairs and improvements or you haven't. "They in return have paid me a couple of late charges and in addition $54,000.00 in rent alone. All on a house we paid $45,000.00 for 9 years ago. Not to mention the other tenants that paid rent in the first 4 years of ownership before they moved in." - This isn't a logical argument. You would just be renting to someone else if they moved out. If you wanted to debate your idea of giving away gift cards as a motivation for a Tennant to sign another year lease... than you should be comparing the vacancy/turn over costs against the gift cards. "I like giving money away if it nets this kind of return." -Again you lumped it all in to this gift card idea... you would just be renting to someone else and still generating a return. Consider if you had 100 properties... why would I give away $25,000 every 5 years? The person who cried and signed for year 6, how many times have you raised rent? If the answer is zero why or why not?

Sounds like giving money away.

Send me address and price please.

Amie Lieurance I'm using the iOS app and the title is the address, no sale price listed In post where are you seeing it listed ?

Appreciation is an increase in the value of an asset over time. Did you mean equity? Not sure since you didn't list the sell price.

Rashid Bailey Until you share what numbers you came up with no one can help you. If it needs no repairs and I just quickly toss in some numbers it would look like this. Example purchased for 59,000$ 25% downpayment $14,750 Closing costs $2,000 Initial loan amount $44,250 Term: 4.5% 30 years Rent: 750$ Expenses Vacancy -60$ Insurance -25$ Repairs -69$ Taxes -49$ Cleaning misc -39$ Net operating income 508$ mortgage payment - 224$ Monthly Cash flow +284$ Cash on cash return 20%

You need to post your numbers.

The bigger problem is typically how to finance the commercial property... most house hacking occurs with little or no downpayment.

Oh my apologies I thought the active listing was the property listed for sale. It's a different property altogether. That's what I tripped myself up.

Oh your CMAs say 1240 square ft, and your first one says 145$ a sq ft. That was the confusion.