All Forum Posts by: Garth Gissel

I would be interested to here how your meeting goes. Please update us. My wife and I are contemplating the same exact situation. We are putting together an analysis of a flip and are then going to present to a potential investor.

0 Votes

To paraphrase Che Chei Wong. Believe in abundance verses scarcity. There are good people that need a good place to live. I have an older SFR and a new duplex. I prefer the newer duplex over my older home. Good luck. You will find good tenants in a reasonable time.

0 Votes

@Matt KisslerI would like that information too. My wife and I invest in the Milton Freewater/Walla Walla area and we would like to meet up with a local group of investors.
Thanks

@Jose Alvarado Dave Ramsey has a good budgeting system if you have never set one up before.

0 Votes

@Raymond B. good tip thanks!

0 Votes

Originally posted by @Che Chiu Wong:

Originally posted by @Stephen Jacquindo:

My brother and I are on the deed of a duplex we inherited from our parents, and we both live in each unit. The property is owned free and clear and appraised at approximately $150,000 just this year. Several years ago I purchased a five unit apartment building and made every newbie mistake in the book and ended up taking a bath on the property. Because of this it has taken me years to get my credit back to a respectable level. I now work a full-time job and with the equity of the duplex I want to invest in real estate (the right way) again. The problem I am running into is my brother is old school (work for a company for 30 years retire with a pension) and is convinced I would only make the same mistake again. A HELOC would be my only current source for enough cash to get back into purchasing real estate properly.

My question is, how can I convince my brother to let me use at least some of the property equity without taking any type of a legal route.

How about considering selling the property? The split would have been the cleanest. You can even consider selling it to him.

This is simply a possible solution - whether or not you should sell is a personal decision ultimately.

I agree with Che, when ever some negative thing came up you would be responsible, yet the positive aspects would most likely be overlooked. Sell and then you are your own man.

0 Votes

Originally posted by @Paul DoCampo:

@Garth Gissel

I have checked rentecdirect.com however the only thing free I see is a free 30 day trial. After that the web site says they charge $15 a month for 1-10 units.

The Basic is free. I just cut and pasted this from their site. I am not affiliated with them. Just a client. LOL

There is an edition that meets your needs.

Rentec Direct has three editions to give you the specific features you need. Just getting started as a landlord, enjoy Rentec Basic absolutely free. Landlords and apartment managers, look no further than Rentec Pro. And for the professional property managers and homeowners associations, Rentec PM has all the features you need.

0 Votes

Maybe you could refi to get out of the PMI and CHIF payments. That would help the cashflow too.

0 Votes

I use Rentec. It is free up to 10 units. I am pretty good with excel and use that for all my property analysis, but I do like Rentec.

1 Vote

I include water too. I used to have the city calling me to collect water. Not anymore. Only a few months out of the year the water bill is higher and that is when they are watering the yard, keeping my rental unit looking nice. I don't mind so much.

0 Votes

All Forum Posts by: Garth Gissel

Garth Gissel has started 2 posts and replied 27 times.

Post: Looking to build a honest team

Post: First meeting with an investor this evening! Guidance needed.

Post: First rental- new or old?

Post: Hello from Pasco Washington! I have but one question for all.

Post: Buy a lot of land and resell

Post: Convince a sibling to invest in realestate

Post: Landlord software/method for one rental

There is an edition that meets your needs.

Post: Analysis on Done Deal - Triplex

Post: Landlord software/method for one rental

Post: Getting tenants to pay the water bill