All Forum Posts by: Landon Reigelman

I would recommend J. Scott's book on rehab costs. Doing a rough estimate by square footage could land you in a bad spot so I would try to get a better estimate with a contractor during the inspection period before ultimately following through. 

I personally would either increase your one time non refundable fee or the actual security deposit itself rather than raising the rent $50 per month per pet. Would be interested to hear other's take on this though.

I have only lived in Florida and North Carolina. However, I've spent some time in Washington State and it's beautiful, so naturally that is my choice. I'm sure there's better options, but the landscapes are amazing although the housing is a bit expensive in the more popular areas. 

I'd say to probably not get the book. Kiyosaki is better for his motivational work as he tends to not provide much actionable advice but more in the way of anecdotes. You will likely finish the book finding the opposite of the title to be true. 

Not sure you have many options. All you can do is make your offer and wait. Best case scenario the listing goes stale and they reconsider. It is a seller's market unfortunately. 

It's not necessary or practical in all markets, but I find it works very well in my market. It kind of just works like a screening tool to find properties that are more likely to give you a decent ROI.

@Adam Knickelbein

Hey Adam,

I'm not the most experienced, but I'd say that's definitely a long shot. Just a simple 1% rule or 50% rule would show that the metrics just aren't profitable, but likely just a nice home for someone rather wealthy. Would suggest looking for off market deals but those are likely far and few if that is your median listing price. Maybe somewhere outside of town would prove to be a better location.

@Tim Donovan

I have no actual experience using it to set rates, but in total it seems like a valuable tool that might save you from needing to get comps from a realtor. The Pro reports seem particularly useful because they give a better analysis of the compared properties and their characteristics and their actual distance from your property. Planning on using this in combination with other tools in the future myself.