All Forum Posts by: Kenneth Hynes

@Daniel Toshner

Great Job and good attitude about the investing .   Question  on  How did you pick your 'out of area" markets of kC, Ohio, WI etc .  Did you partner with your TK provider and they showed you some areas, or did you pick out the state areas first and then go look fora good TK company ?  

@John Mathewson  

I think the other posters have hit the key points already. I am also a SFR investor looking into MFH , and besides the utilities (where a SFR tenant usually pays all) I would allow a higher vacancy rate , plus is there any maintenance common to all units that is paid by landlord (ie snow removal, lawn maintenance , common area cleaning ) I have seen these types of expenses on landlords financials on some propoerties

@Josh Barnett 

Welcome to BP . Its a great idea to start out your REI career, especially early on. One coment about your plan is that it would be an extremely tight timeline to get all that accomplished while on your leave window. Do you have an area in texas in mind ? (Killeen , El Paso?) or a non military town. I would recommend PCS back to teh states first . What alot of guys do is buy and hold at each duty station, then find a PM and rent it out when the leave. Do you want to be statined in TX?

Also check out the Blog post 

@Dominick Natoli

Welcome to BP  ,  BP is a great resource. Full of great tips and reads to help you get educated before you make your first investment 

Check out the free BiggerPockets Podcast- A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 200 past ones to catch up on.

Also if you are interested in TK rentals , check out the site  http://turnkey-reviews.com/  .  it was stated by a couple of BP members and can give you feedback on certain companies

@Connor Burnett

Welcome to BP. I would echo what Karen said. there are alot of other expenses to take into account when owning a SFR. BP has a good rental property calculator under the TOOLS TAB that can take you step by step - That will give you a better idea of how good the deal is and your potential ROI

Great job.  Do you plan on expanding beyond live in flips?

question - did you hire outside help in removing the wall? how did you determine load bearing or not. have a similar question with one of my rentals (also an older former HUD home) and thinking of knocking down a wall to open up the floor plan

Hello all ,  

While usually I am a residential SFR investor, i have a family member that has recently sold a commercial (Strip mall property with 5 tenants) . Closing was last month with few issues. They had set up a LLC to manage the property, collect rent, pay taxes etc. This was the only property in the LLC , and was wondering was there any advice about keeping the LLC active (with no assets) for a period of time after the sale ? I remember reading in one of Rich Dads books about keeping a LLC open after sale in case any potential legal actions . Does any commercial investors have a standard practice about keeping LLLC active after sale. The property is Located in NY, and was researching the statue of limitations but did not find any of this particular case

any feedback appreciated 

ken

@Rosston Smith

Great job and great start .  You self managing while you live there .  What about when you move on to your next property , do you still plan on managing current quad ?  

again Congrats and looking forward to see you progress to your 300!

@Trent D. great work and thanks for the advice on buildiing your profile and portfolio . Also a small SFR holder looking to get into the MF arena..

Any specific tips about self managing a Multi family versus SF homes ? tenant screening ? CAPEX and maintenance budgets ?