All Forum Posts by: John Clark

Hi @Denny R., my ten are scattered around in Farmington Hills, Southfield, Redford, Livonia and Garden City.

Congrats @Denny R.  The place looks great.  

Was the city easy to work with in regards to rental registration and inspection?  I have 10 in the neighboring areas but haven't made it into Westland yet.  But I keep looking.  

Thank you @Mindy Jensen  :-)

Hello fellow BP’ers, any idea where I can find my BP receipt for the annual Pro Account renewal?

Thanks for your help and Happy New Year

@Andrew Johnson, thank you for the quick reply. What you mentioned about making the spreadsheet is exactly what I did for my SFH file.

Are there any "rules of thumb" for MF like we have for SFH? 50% rule, 2% rule, 1% rule, etc.

Your idea of posting the deal on BP is awesome.  I should also be spending time over there looking at deals that others have posted.  Then I can run my numbers and see how it compares to what others are saying.   

@Andrew Johnson and @Abel Sng, in regards to the underwriting, do you have a custom spreadsheet for this? I've created one for SFH and it has served me well. (I currently have and self manage 10) But now I'm looking to move into the MF world and its a bit overwhelming. So I would like to start running numbers at least once a day (on different properties) to get comfortable. The concern is what if I miss something so the numbers don;t represent reality. Is the BP rental calc a good choice?

hi @Barry Claypool, welcome to BP.  You say you are "looking to learn a lot!"  Well, you are in the right place.  Great info and great people here at BP.  

@N Martin, congrats.  It's hard work but worth it.

Hi @N Martin, I have a place right by the south side of the Glenhurst golf course.  When I last rented it, the tenant said he only wanted to stay for 12 months.  But once that lease was up, he asked if he could go another 24 months due to the convenient location and the good neighborhood.  

I would buy in that area again.

Just listened to podcast #222 and it was awesome.  Thanks to BP for getting him on the show and thanks to Jay for being so open and sharing.  I suspect that you could have talked for hours with Jay.  And we would love to hear more.  Please consider bringing him back again.  :-)

thanks...