All Forum Posts by: Joe M.

I actually own a 2 BR rental. It's the only 2 BR unit I have but not because I wouldn't buy another. Honestly there are some really great deals to be had on 2 BR SFH. It does take a bit longer to rent this unit than others but in the end this unit has been a money maker for me.

Around $650 for SFH and around $1,100 for Duplex.

Why be exclusive with either SFR or MF? Why not have both in your portfolio and see which performs best for your specific market.

I currently own 4 SFR and 1 Duplex for that exact reason. I've only been investing for a few years so I wanted to get some experience with both types of properties. That and the duplex property just sort of fell in my lap and was such a good deal that I bought it.....in fact I'm living in one side of it right now and paying rent to my own company. I'm my own worst tenant :-)

Steve Babiak thanks for that tip Steve, I'll try loosening up some nails and see if that helps. The good thing about the sofit is the previous owner stored all the left over building materials in the detached garage. I have a treasure of construction items in there, including a full box of new sofit strips (along with floor joists, spare windows, doors, paint, concrete etc. etc.)

Michael Harrison I really like the layout of these duplexes as well. It's a corner lot and the the grade of the land made it erfect for a tucked in garage and finished walkout lower level. That's how they were able to build a 3rd bedroom and a 2nd full bath in each unit. Also there is a family room downstairs so this duplex has both a family room and a living room in each unit.

This is the downstairs family room in one unit

Here is the upstairs living room in another unit

One other thing about this duplex. Both units have PEX plumbing. I've never worked with PEX before. Anything special I should know about it?

Brian Hoyt Thanks, I think it really is a great looking property too! I'd rather not share the numbers, but I will say the property will be an excellent asset and will cash flow very well.

Charles Perkins You're right, my mistake. This was an REO property. Of course it had gone through foreclosure previous to that.

Joel Owens I'm with you on the vinyl, I don't like it either. In fact you may not be able to tell from the pictures but there are already places where the vinyl is buckling and this property is only 6 years old. Also the soffits were either not installed properly or are of a poor quality because they are falling off in some places, which you might be able to see in the picture of the detached garage.

Hey BP members! Tomorrow I'm closing on my 4th property since joining BP.

This one was tremendously difficult to close and has taken nearly 6 months to close.

This property was a bank foreclosure. My first offer was rejected and the bank accepted another offer. The duplex was off the market for nearly 3 months and the original buyer was unable to close on the deal (apparently couldn't get financed). It comes back on the market and I make an offer and it's accepted. The listing agent then drops off the face of the earth for 3 weeks, and we end up going through his broker just to get a response to the offer. Several more months and loads more issues later (no issues with the duplex, mostly issues with the selling bank and listing agent) and we are finally closing tomorrow.

The property is a duplex. It is 3br/2BA each side with attached garage. The property also has a detached 2 car garage with seperate storage. One side is rented out already. I have my contractor lined up to do some maintenance work and repaint and we will be ready to rent out the other side.

Here are the pics.

Agree with Bill. See what other houses in your area are using, what you are up against. Also although difficult to do, seperate your own personal tastes in what you would do in your own home from what you would do in a flip/rental.

I invest in the Akron/Canton area in Ohio. Yes there are deals to be had in this area but I would urge extreme caution. Similar to what Michael said about Dayton you can find deals BUT you have to know the area well or you could find yourself with a substantial problem on your hands.

I'm no expert on this so someone needs to check me, but I thought the process using SDIRA's was that you would take the money from the SDIRA and invest it into stock in your LLC. You then hold all your properties inside the LLC. In that case you would manage expenses and such out of funds invested into the LLC.

Gotta call before you dig. In some areas there are some very expensive fiber optic cable going in......if you don't call and wait for lines to be marked and you hit one of those you're gonna get charged with repair costs....and fiber optics are not cheap.