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All Forum Posts by: Chad Duval

Chad Duval has started 9 posts and replied 94 times.

Post: New member from Boston!

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21

Welcome, @Willy Castillo!

Post: Doubting Buying Anything Right Now?

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21
Originally posted by @Justin R.:

What leads you to the conclusion that 2004 prices in 2016 are bad? That *was* twelve years ago, right?

Are rents the same as they were in 2004? Are interest rates the same as they were in 2004? Is inventory the same as it was in 2004? Are lending guidelines the same as they were in 2004?

If everything is different except for the nominal prices, what gives you reason to reach the conclusion that the same thing will happen to the market again?

 Good point, Justin. 

So many different factors this time, but I totally understand where this question is coming from. It is something I've been struggling with the past few years. You just need to buy right. I wonder if Rich has data on rents during the same time. It would be interesting to overlay both sets of data in a graph...

Post: First Flip Under Contract- Made About $11k

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21

Looks great @Michael Murray!

Post: What happens when you're not in a 30K market but a 400-600K market?

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21
Originally posted by @Account Closed:

@Marjorie D. I just read through the entire thread.  If I was you, I would do what @Jay Hinrichs suggested.  Become a Realtor and start selling homes.  Get in with a good brokerage and learn the ropes, really get to understand how the market works, etc.  You'll have a big advantage in that you actually think about investing too.  Hustle, hustle and hustle.  The GOOD thing about your market is that the high homes prices work to your advantage as a Realtor.  You could make $100k your second year and the sky's the limit after that.  If you are making $300k per year selling homes I'm sure you can find money to invest.

It sounds like you are in a tough spot.  If I'm you (and I was once living in San Francisco trying to invest) I would concentrate on building cash.  Don't worry about investing right now.  Just work your tail off and hustle and do anything and everything you can to build up some cash.  If you lived somewhere else or wanted to invest somewhere else, maybe you can scrape together a few $k's and get started, but where you are you need more cash.  Plain and simple.

It's been a year since you started this thread @Marjorie D and I'm curious what you decided to do?

Post: Management options for 32 unit apartment

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21

Thanks for closing the loop! It should instill confidence with newer investors.

Post: Resources To Use When Analyzing a New Market For Multi-Family

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21

Marcus & Millichap has a "Research" tab with great market reports. You have to create an account, but it's free to use.

Post: How to deal with Landlord Paranoia

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21

Based on the scenario, there really isn't anything to worry about. Unless there was something in the screening process that indicates risk, I wouldn't worry about it. Why did you charge a 3 month deposit?

Post: Q-Tips Everywhere!

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21
Originally posted by @Account Closed:

Sorry to say I've seen it.  It usually kids and/or pets who get a hold of the cotton swap package. Even the package from the 99cent store is 250 count. They are light enough to blow around a bit, but too heavy to blow off the property.  Kind of like cigarette butts. They will always be there unless someone picks them up one by one.  Enjoy!

 That's what I thought, but they don't have kids or any pets. Maybe they have frequent visitors with kids. Let's hope that's all it is and not Meth use!

Post: Q-Tips Everywhere!

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21
Originally posted by @Mindy Jensen:

So I thought this was a really weird question. I Googled "Does q tips signify drug activity" and got multiple hits that connected q-tips to meth use. 

I really hope @Account Closed is right and it is kids messing around...

 Really hope it's not drug use. The tenants are the quiet, young, church attending type... not to stereotype, but I'd be surprised if it was Meth use. I'm going to mention it to them next time I pop in. Will keep you posted!

Post: Q-Tips Everywhere!

Chad DuvalPosted
  • Rental Property Investor
  • Boston
  • Posts 103
  • Votes 21
Originally posted by @Jassem A.:

No, normally it would be cigarettes. I guess their daily routine involves littering their q tips.  Maybe provide an outdoor trash can in close proximity to the litter.

 I like your thinking, Jassem. I'm definitely going to do that and label it for Q-tips... Haha