All Forum Posts by: Michele Fischer

Hi Erica!

Agree that this cash flow seems too high. Markets are different, but I'd expect about $4000 per year earnings on a triplex in my market. The college crowd is a unique market.

I had the opportunity to buy a large four bedroom for $40k and walked away due to the old wiring. That is a big undertaking.

Is college your only tenant option? Can you offer month to month to bridge your vacancy timeframe? Or ask for delayed closing date.

Sounds risky to me as an early deal.

Emerging market of Longview TX... darn, wish that read Longview WA!

Welome to Bigger Pockets and congrats on appreciation.

Welcome Josh!

If you know Castle Rock, you know Longview!

Finding good help can be hard. We tend to waste time with no shows for appointments. We mostly use the same handyman, who we found with work on our own home.

Looking foward to hearing more from you!

I would agree with Dawn, maybe stage with with a solution shown for those without an imagination. Those freestanding benches with a high back doubling as a coat rack would work great if it fits.

Great, Brandon, fill be fun to meet you and others. My husband and I will be there!

I typically look for higher cash flow for my low income duplexes, targeting $100/month/door after an allowance for vacancy (have you included that?). But, I do my own property management.
No issue booting one tenant, but since they have already wrecked it, maybe readjust expectations and see how many months you can get from them to defer the rehab costs. Next tenants may not be any better.
I prefer side by side duplexes, up and downs seem to have more conflict with noise with tenants.
I wouldn't sub the utilities, because our utility companies expend way too much credit to tenants, then expect us to pay it when they bail. We have more control by keeping it in rent.
It's a low purchase price to learn with and a high CAP rate, that's positive.

Hi, Jennifer, I'm across the river from you. I sure wish I had found Bigger Pockets earlier in my RE adventures, enjoy the site and good luck finding the right investment for you!

Rod, not sure how I missed that earlier, but I am also in Longview. We own and manage 5 properties int eh Highlands neighborhood. What area are you targeting?
Cheers,
Michele

Welcome to Bigger Pockets Peder! I am in southern Washington. I don't think you can manage properties for others without a real estate license or property management company in Washington, something you may want to investigate before you get too deep with your sister.

This is an interesting discussion. Normally one I wouldn't want to touch, but here goes.

I'm not sure what the answers are, but it is clear that the gap between the rich and poor is widening.

I invest in low income real estate partially as an investment and partially to give back, providing ethical affordable housing. Some, normally those who don't see the connection between actions and consequences, still view me as greedy and unreasonable.

My husband has a theory that we as a nation tolerate career welfare because the alternative is rioting and break ins. Helps with perspective.

Seems like people and churches need to do more so that the government can do less, and they can instill more relationship and consequences, but it is a hard sell.

I think the upper class can and should use their resources to generate more resources.