All Forum Posts by: John Kesner

@CJ Witmer

That may be tough to do. I guessing he was paying the heat because there are 2 units and only 1 heat system. Could cause a problem between tenants if you just split the bill between them because it always the guys fault for running up the bill, and you have no way to sort it out. Also potentially expensive to change. You said the furnace needs replaced fairly soon. You maybe able to split the system some how  when that takes place.

@Laura Alvarez

Welcome to the BP community. I recently looked at the Charlotte area for investing, it looks great! You have a very achievable goal, keep moving forward and you will get there! All the information you need is here and its free!

Good luck

-John

@CJ Witmer

If you pay the heat, you should control the thermostat. Put a lock box on it and run it at the department of energy suggested settings (78 summer, 68 winter). I wouldn't allow them to pick what they want if you are flipping the bill, that way you won't get a big surprise.

@Par Attaran

I think there is a huge difference between making low ball offers and making any offer that you know you can't close on, that is just a "stupid offer", a genuine waste of everyone's time

I say make as many low balls as you want, just be ready to close if one comes through. Your an investor, one of your main objectives to "buy right". The trick is finding agents that go along with that plan. Many are concerned about insulting buyers or other agents. I think everyone's reputation will be just fine if you close on accepted offers.

A good reason for investors to get their licence.

@Jacob Stuckey

I would add to that, knowing the economic factors driving the city. From there you may be able to identify the path of progress, up and coming areas or areas that are going through gentrification. Then you can focus in on areas that have great potential for growth. 

Location, location, location applies to renters and buyers. Find the best location you can afford and work that area for the best deals.

@Gene Hacker

I don't have a ton of experience with this but I'm trying to build a relationship with a portfolio lender too. I'm working on finding a loan for a duplex and I called the local state bank. I went on their website and found one of the loan officers and called her up. Explained what I was looking for and she explained what they could offer. I had to open a bank account to get a portfolio loan but they seemed to just give them out like any other loan. 

@Patrick H.

Welcome to BP from Northern Nevada. I hear lots of talk about the Vegas market it sounds like there is lots of opportunity if you know the market. 

Good luck, and if your ever up in Reno, hit me up.

@David Galvan

Welcome to BP. You have a great passion. Old buildings scare me! All can think about is asbestos and lead paint, sounds like nightmare to me. That said, I can appreciate a restored old building so I'm grateful there are people like you out there!

@Lucky Tiderman

Run some test ads on craigslist. Its free. Maybe find some pics that represent what you are planning on building and see if you get a response. You can try different prices, pictures etc. to hone in on what people may or may not be looking for.

Eliot M. Whats your rental market like right now? If its good, let them kick out the tenant and find another. No big deal, contract over, no commission. The current tenant should be willing to let you show the property. If your rental market is not good, you have a much tougher decision.