All Forum Posts by: Jim Keegan

Congratulations!  Have you sold it already or is it on the market?

I charged a pet fee in Va Beach.  $50 per month plus $200 security deposit.  The people where there two years and I had to replace the carpets which were new when they started renting.  

Maybe you already know this, I learned it the hard way but will share here for free. :). I bought a house that is set up perfectly for a duplex in Suffolk. I mean separate entrance, two electrical panels, a spot for two kitchens, 6br and 3.5 bath. Two garage doors, 2 HVAC. I paid for drawings, survey and waited two months as I applied for permits, only to find out that two units on my parcel would be over the limit per acreage. Previous owner probably knew but I still got the house at a good value. Going in I knew I could cash flow as a SFH. Now I will advertise it as a in-law suite. My grand slam will be a triple when I am done, so don't feel bad for me. Lesson learned.

Great post!  Thanks for sharing.

Your sister is not worthy of my name if she unfairly wants a fourth.  🙂

Congratulations on your success so far!  Would I be correct to assume that your mom, sister and you each live in a separate unit of the triplex or are you getting rental income from that as well?  Will your sister take monthly payments on her half of the triplex?  Seems like you could do a cash out refi on it but I would need to know the rental income before suggesting that.  

Welcome to BPs.  That is a good plan!

Howdy neighbor @Stefani Gillenwater.  Welcome to biggerpockets.  I don't have multifamily experience but I am sure others on this site can help you.

Thanks everyone it appears as though the house isn't in foreclosure yet.  My friend who lives in the neighborhood said it was based on some notices on the door, however I took a look today.  The lock box on the door has a local realtor company so I am going to call them and see where that leads me. Hopefully I can find the owner prior to foreclosure.  At least I feel like I have time.  @Patti Robertson I sent you a PM.

No, it wasn't listed according to the neighbor.