All Forum Posts by: Kimberly Vallance

@Sviatoslav Gulko

Find a local meetup and look for investors you can bird dog for - you can raise quite a bit finding deals for the investors until you can invest in your own.

@Dennis M.

Is the 1% rule the only downside from what you can see? As an otherwise nearly turn-key property in a decent area with one established tenant, it still seems a pretty good deal.

I recently learned about the 1% rule here on BP, so I'm interested in your opinion on the importance or weight to place on that one criteria.

I can see benefits both ways - I have a lawyer friend who agrees the liability would be reduced the most with all separate companies. However, the overhead for that would be...trying. I think something in between would be acceptable to me. That might be what you have to figure out - what is your risk tolerance in this area. This is a consideration I've been mulling over recently, so I'll be interested in seeing any other comments that arise from investors with more experience.

As for the insurance - having worked for a property insurer - you can buy a policy that covers as many dba's as you and the carrier are willing to put on the policy. The issue comes if you have an aggregate policy limit that you reach or exceed. Perhaps consider an umbrella policy to take over if that is a concern. Then the umbrella policy would only kick in if your underlying insurance is maxed out. I hope that never happens to you, though.

@Tchaka Owen

Thank you for your response.

If I do manage, this would be the last one I do so on, but I'm leaning more toward a manager. I've had several bad tenants and the last two have been beyond awesome. I'm interested in handling the investment side more than the management side now.

Thanks for the comment about increasing the numbers - I thought this was pretty conservative based on my research of the area, but it also seems almost too good, too. So I do appreciate the recommendation.

@Jaysen Medhurst

Thank you for your comment. There don't appear to be any common areas other than the front porch. The utilities are indicated separate - though I'd want to verify that for sure.

Thanks for the input about the leases and expense history. Also for additional down if I don't occupy.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This duplex appears to have been updated recently by owner occupant who is now selling. There doesn't seem to be much, if any, needed for repairs, and it is priced reasonable for the area. To make the numbers come close to working, I had to lower the purchase price. I don't know what the current actual rent is - can I ask to view the current leases? What about asking tenants if they have any pain points they would like to see addressed?

This seems like a good deal, but is well above my comfort zone from previous deals as well as one of the first I've analyzed here as an intentional REI.