All Forum Posts by: Keegan Darby

@Tim Herman Thank you. I know -- I wish this property passed the 1% rule. It is becoming incredibly difficult to find MFH properties in AZ that offer the 1% rule. 

@Jeff Copeland That makes sense. I agree - from a competition perspective, why rent a unit without central a/c if the one down the street has central? 

We are analyzing a deal on a duplex, built in 2004. Listed at $190k. Each unit rents for $750. Tenants pay all utilities. 

Down payment: $38k 

Monthly payment (including utilities, principal, tax, insurance, repairs): $975/month 

Monthly income: $1500 

__________________________________________________________________

$525/month 

Thoughts?

@John Teachout Wow! Thank you. It sounds like window a/c units are a no-brainer. That's great to hear that you can put that into the contract. 

How long do the window a/c units typically last? 

@Jeff Copeland Thank you. It is a class C, maybe C- property. Could we potentially ask the tenants in their contract to pay for the window a/c unit replacement? 

@Kenneth Garrett Thank you. From your experience what is the average life of a window a/c unit and can you ask the tenants to pay for this in the contract? 

We have an offer in for a MFH with window a/c units. The MFH was built in 1934. Would you leave the window units, or pay the $6k+ per unit for central air? 

The tenants currently pay all utilities. The units rent at $700/each. 

I'm looking at an investment property with section 8 tenants. To all those who have had experience with this: 

1. What are the pros and cons of section 8 tenants? 

2. Once I own the property can I rent to non section-8 tenants? 

Thank you! 

@Zack Karp Thank you for letting me know. Yes, seems like a wise decision, given I can roll the two missed payments into paying off the principal payment. Will take ~19 months to break-even then start saving the $108/month. 

Given the low interest rates, we are looking to do a streamline FHA and take our rate from a 3.625% to a 2.75%, saving $108/month.

However, the principal on the loan would increase by $4800. Is this common for the principal amount to increase this dramatically?