All Forum Posts by: Gabe Hall

Yes that's what my duplex has.  Like you say, it's great because it all feeds into the electric which is separately metered.

Depending on your BTU needs, you can get a new wall AC unit for $300.  They can easily last 15 years if they are operated well.

FWIW, having baseboards and wall units is great, but it clearly puts you into C class territory.  

Its June 30th now.  Is anyone following this story?  Evictions theoretically happen tomorrow.

I'm seeing the same rates, so I think you're at market.

As a buyer, these two are super important.

Look: I analyze deals constantly every day. Unless you personally know the seller or grew up in the area, likely I know my target area as well as you. I know what the MLS looks like, which houses are selling and which aren't, why, etc. If your comps or rentals are off, its a huge red flag to me. Same with rehab costs. Be really clear about what kind of rehab you are doing. There are many different kinds of rehabs.

I like to assess wholesalers by getting their quoted ARVs they have given in the past and watch the property over a 6 month period to see what it sold for.  If you can share those numbers starting out, that would be a great way for me to gain trust.

@Ryan Easley What I haven't yet done is figure out how exactly your fund can actually qualify as QO.  There must be qualifiers and that probably involves your investments being in the QO zone. What qualifies and what doesn't?  Does your work have to be there, labor, registration, etc.

I'm not planning on this for 2017 so I don't have your urgency.

Yeah I've been researching this as well as a way to "1031" large stock gains into RE.  Ideally I would create a QO Fund that develops/holds/etc properties in a QO Zone and is registered there, get is designated by the IRS and then allow transfers.

As you find out more I'd love to chat.

Yeah MV/Burlington will operate similar I think.  Congratulations and good luck!

@Blake King Don't worry - you are in Marysville.  Unless the place is a dog, can get 10 applicants the first day you list.

Honor the lease, then raise the rent $150 when it expires.  Read the previous owner's lease very very well.  On your first day of ownership, knock on the door and say hi. @Mindy Jensen said this and I'll echo it.  Make a new move-in checklist and go over it with your tenant.  It sucks to eat that cost but its tiny compared to what you paid for the place.  Inform them of the damage deposit you are holding for them and that they can receive this after move out when the place is returned to this condition.  And yes they will tell you a bunch of stuff needs fixing.

Check other offers for escalator clauses.  This may be to bump someones offer, not bump an offer, or has been bumped with an oddball increment.