All Forum Posts by: Jacob Lapp

@Jaysen Medhurst

That's a good point! I am in an area walking distance from a hospital so the traveling nurse/ doctors in residency would be my first choice. The likeliness of finding that might be slim though.

I don't think I'd want to invest the time into airbnb.

The other option doesnt seem like a good outcome..

Your comment gave me some stuff to think about though. Thanks for the input!

@Ricardo S. Yes! 1-4 units is all viewed as residential at least in PA!

@Marlen Weber Thanks!

@Alice Huang Thanks!

Thats a good point. I was planning on just giving the furnished option. I just wanted to see if others thought it was a good option to give as a landlord.

If good tenants want to go unfurnished thats fine by me!

@Evan Polaski Thanks! Do you know an average extra charge for renting furnished opposed to non furnished?

Hey everyone!

Have been claiming residency in one unit at my triplex for coming up on a year in August.

My plan is to start renting our unit as soon as the year of residency is over. My girlfriend and I had a lot of fun finding furniture at a thrift shop my mom works at an incredible discount.

Our apartment is beautiful and we spent less than $300 on furnishing the whole place.

I'm weighing the pros and cons of renting it furnished or not. Especially if I can get an extra $150-300 a month for it being furnished.

My questions;

If you rent a furnished apartment. Are you the landlord responsible for replacing broken furniture? Or would the tenant owe money for breaking my furniture?

Is this legal? In my real estate class I remember learning that selling a furnished house is illegal in PA. Is this the same with rentals?

Thanks in advance!

@Eric Johnson Thanks! Sorry for the late response.

Current loan was 5% down with a conventional mortgage. Is it possible to refi conventional to FHA and transfer title there?

Thanks!

@Jorge Perez thanks! Sorry for the late response.

I ran the numbers with my mortgage guy. I put 5% down with a conventional mortgage. Yes this meant the dreaded PMI (which was only $68 a month) which saved me $40,000!

I would have been able to afford this but wouldve drained my savings. I'd rather lose $68 a month and be able to buy more properties to make up for this.

This is why I prefer this system.

Let me know your thoughts?

Thanks!

@Erik Whiting Thanks for your input! Sorry for the late response.

Yes I am after the good interest rates. From what I've heard there is no funny business with doing this strategy to start.

Integrity is very important to me. I am just looking into what action will give me the best outcome that is legal.

As far as I view it, we have a system used to keep people down. If I can find loopholes to help me that are legal I don't see it as violating my integrity.

Thanks again!

@Domonick Dangerfield I just put in laminate stick on "hardwood" from lowes in kitchen, bathroom and entrance. Material cost $300 and took me about 9 hours. Very easy for the average home owner. Looks great and if a few boards get scratched I can pop them out and put in new ones.