All Forum Posts by: John Liebau

I was wondering about how to analyze a property’s value when it comes to appraisals or how I should be using appraisals as info. What’s the difference between a tax appraisal and (I’m not sure what to call it) a market appraisal? For instance a duplex I bought to house hack appraised at 192,000 and the county appraisal was around 145,000. Does the county appraisal being lower give me some bargaining power? The reason I’m asking is because I’m talking about doing a partnership with a co worker and he seems awfully concerned about what the county appraised a property at, yet I hadn’t put too much thought into it when I bought my house hack. Any comments appreciated. Thanks.

That’s a good idea. Are the things that have been mentioned in this post included in your form, or would you care to share a little more about what happens? 

thank you 

Great thank you so much! I looked up similar questions after I had posted... They talked about verifying the remaining tenants income, so basically I told them that the remaining person would essentially need to reapply to renew the lease. Anyways they said never mind they'll keep it how it is. Thanks for the thoughts on the deposit I'll remember it for next time.

I have inherited tenants, one of them just asked me if they could be taken off the lease and only have the other tenant remain on the lease. Their lease is up in July after which it is month to month. I was thinking they are both are responsible for the remainder but with a 30 day notice I could sign an addendum that they both agree to take one person off of the lease. But then I'm not sure how to handle the deposit.

Any experience and help is greatly appreciated, thank you!

Just curious.. Would it just be considered a four unit property and valued based on its financial performance? Or do income producing properties get appraised on comparable s for lending?

Thanks everyone. I’ll get on building my profile. Thanks Chris I have a lot of questions so I appreciate the offer.

Thanks Dennis. I’ve been listening to the podcasts for a long time now and decided it would be good to start getting more active on the site. I’ll try to make it out, thanks!

Hi I’m John. I’ve been house hacking in Leavenworth for a few months now while working on the side I live in. Its been a serious learning process. I hope to meet some other investors in Kansas City sometime that I can learn from or others who are starting out with similar goals. I plan on house hacking another property and I really want to do some BRRRR’s along the way. No one I know is interested in real estate and it’s driving me crazy!

Background:

So I'm looking to get in to real estate investing by purchasing a multi family property with a VA loan and living in one while renting the other units out. I'm looking to invest in other properties (single and multifamily) that I'm not going to live in also. I'm currently in a 12 mo lease at an apartment.

Problem(s):

If I'm looking at a multifamily property that is fully occupied with, for example, two one year leases and two month to month leases, do I start moving on the property and give notice to one of the month to month tenants that I'm not renewing their lease in 60 days, so that I can move in - and fulfill VA occupancy requirements? That sounds like a sketchy move to me but I'm not sure how to do it. Do I break my current lease to make a move on that property? Do I wait it out to find a vacant property that I can move in to when my lease is up? Do I go the conventional route and put in a down payment on a conventional loan and use it as a pure rental property?

Any thoughts, comments, suggestions welcomed, thank you!