All Forum Posts by: Jordan Akins

I have a narrow lot and looking to put 2 or 3 duplexes. I’m going with 3 bed 2 bath but want them to be a little smaller in sq footage. They need to be something like 20 x 40-50

Thank you guys. Yes I thought it was pretty much a no brainer just wanted to get a couple opinions. The houses are older; nothing structurally wrong, not real nice but not a dump either, they are in a great location. 

I have owned 2 houses on the same lot and have been renting them out for about 10 years now. My initial investment was around $120-$130k. I have paid them down to $57k. I think they would appraise for around $150k. Should I refinance them and pull that money out for another property? Throw me some opinions. Thanks!

Just purchased my first rent house for $40k. It’s a small house with enough room on the lot to build 3 duplexes . I’m pretty confident with a couple days of work I can rent the house out for at least $500. It’s considered a one bed one bath but has a basement that can easily be made into a bedroom with a big closet/storage space. Also has a detached garage. Just wanted to get some opinions on what you all would do with the property as far as what you would build and so forth. Thanks!

thanks guys appreciate it! Just trying to learn a little bit. 

My dad is a builder/contractor who also has over 100 rental properties. Iv asked him a few times why doesn’t he build a fourplex or quad plex instead of a couple duplex’s. To me it seems like it wouldn’t cost as much to build and you have more rent income. He basically just said it’s a hassle having to go through the state to get approved to build them. I was just wondering your all’s thoughts on the difference between the different sizes of appartments.

yea that’s what I told him. I think they are currently at $550. He says that’s about right for the area but I don’t think he takes into consideration the location and how nice of an area and appartments they are. I heard once from someone that you should have around 20% of customers/people complaining about your price which allows you to get close to the maximum amount you can charge and still have people buying or renting. I think he can send letters out explaining why he needs to raise them. I mean if he raised it $100, even if 4 tenants left and those units never got rented again the remaining plus still have a larger cash flow. 

My dad has around 33 units in a certain location here where we live in Ky. He has only raised the rate by $25 in the 25 years that he has had them. They seem to always stay rented with no problems at all due to the price, location, and them being pretty nice units. What is the best way to go about raising the rate to create more cash flow without loosing tenants?

thank you very much guys!! I appriciate it!

My dad owns 41 units right together. He has $800,000 in them. The rent from them have been paying the loan for 4 or 5 years. He said a few years ago they appraised around 1.2m and since then have fixed several of them up. What opportunities do you all see with this to either put more money back into them or take money out and buy more properties?