All Forum Posts by: Karen W.

Do you guys count principal pay down when calculating your return on investment?

@Robert Leonard

Which projections are you referencing? The articles I’ve read all say BR’s population have been stagnant and that’s only because of migrants from other countries are replacing those who leave. Anecdotally, all my recent tenants are from out of stage.   I’m praying for a surge in population of course! :)

@Robert Leonard I don't have any multifamily, they're all SFH for now. Personally, I'm getting a bit apprehensive about investing more in the BR area. There's a ton of new building in the area and the population has been stagnant over the last few years. Definitely interested in what the Baton Rouge Trends meeting has to say. Would you mind providing a short summary of what the consensus is? I'm not in the area and would really appreciate it.

$250,000 for $1600 return on rent on a condo doesn't sound great. Have you run the numbers to see if this condo is worth keeping? If the current comp is 250K, that means it also hasn't appreciated so appreciation play is out too, though I find that odd because Concord prices have gone up significantly in the last few years. If the numbers really indeed don't look good (which is likely) and there's no appreciation despite what's going on in the neighboring areas, I'd drop this property fast. 

What does everyone think of the recent rapid building of properties particularly apartments in southern Baton Rouge? Anyone affected by it? Seems to me like rent has come down a little bit compared to last year or the year before. Anyone else?

What if you self manage your rental properties not through a technically separate management company entity?

I don't understand why everyone is still trying to convince Mike Wright that 401k's are a good option. Despite such overwhelming advice to consider adding (not necessrily have do it based on his own needs and situation) a 401k to his portfolio, he continues to not listen and push his own opinion. What's the point after so many well intended comments? Is another well thought out response going to change the way he thinks? No. At one point you just have to walk away and let him do his thing. I just hope the lurkers here are truly listening to great advice. Great job everyone!

@Chela O'Connor @Jenifer Kynor @Dylan B. Yes the other applicant would qualify on his/her own. Wow BP community, thank you so much for the quick good advice! I really appreciate it!

I have two co-applicants for my SFH. Both have steady well paying jobs with good previous landlord and supervisor references but one has great (high 700s) credit and another has horrible credit (550) including a bankruptcy (not sure when) and 3 recent credit checks ping'd in August. They are coapplicant roommates so both would be fully responsible for the full amount. Should I approve them as a group or deny based on one of their credit histories? Any advice would be appreciated!

Why do you ask for bank statements on top of last 2 months of paystubs or w2?