All Forum Posts by: Faustin Hoover

Thank you. I know most rentals in the area the tenants pay for utilities. It doesn't allow for much cash flow as is that's why I was curious. Not sure what the RUBS system is.

Two questions. If you were looking at a multi family and the current owner pays utilities how do you go about dividing them at least electric? Also if 2 units have a boardwalk to get out of their unit and the other has a small porch are you responsible for snow removal/ice. Here in ohio we have crazy winter weather so just curious. Thanks in advance.

@Logan Singleton

No not yet anyways.

That makes sense thank you all for your input!

I'm sure most of you prefer to keep your relationship with tenants professional. Kind of a dumb question but I was just curious as I am working on buying my 1st one. On a major holiday like Christmas for a lot of people. Do you run any specials a far as rent prices or anything? Do you give tenants a break and take a little off for the month or possibly send them a gift card. Showing your gratitude for them being good tenants? I'm sure if you have 100 doors no you wouldn't but if you only have one or 2 is this something you would do or just keep it professional and don't do anything for the holidays. Thank you.

@Sarah Downey

It is rent ready just looking for a portfolio lender so I don't have to put 20 percent down.

Hello I have a property I plan on touring and maybe buying. I called a handful of local banks today all of them will get back to me when the mortgage officer is in office. The realtor has offered a few lenders they know that aren't banks but says they work with their clients. Has anybody had success from a lender they used from a realtor? I tried one before from a different realtor but everything sounded fake or like a scam almost so I did not go through with that one. Thank you.

Hello all I would like some input and advice on a potential deal. I am looking at a duplex for sale on the MLS. It is 1800 sqft total. Each side is 2 bed 1 bath with a bonus room they say could be another bedroom in each. Both sides rent for 575 each right now. From what I can see in the pictures the kitchen cabinets could be updated. They replaced the roof and carpet and windows 6 years ago. Asking price is 130k. I also saw 6 years ago it sold for 20k. So I would estimate they have roughly 60k in it and now it's worth double that? I know the market is up right now. But would I be crazy to offer around 80 to 90k? At the listing price there isn't really cash flow but there is room to up the rent as market rent here is around 650 to 750 for a 2/1. Thanks for your help.

@Peter Vekselman

It is a 2/1 well taken care of. I have never liked Hoas for that reason. Thank you

A small condo has come up for sale. If the price was right is it worth buying to rent it out? Pros or cons of owning a small condo? Any advice would be appreciated thanks.