All Forum Posts by: Laura H.

There's a tiny, 4-lot "park" I'm considering...

Occupancy: 100%

Rent: $160/lot (undervalued - should be $175 minimum)

Taxes: $265/year

Not sure about insurance - what would I need? How much would it cost?

Owner won't finance, so it'd have to be a cash purchase (no problem).

What would be a good price range for this? Is this a good way to get my feet wet or is it a complete waste of time?

Thanks, @Kai Kopsch!

@Steven Silva - I'll send you an invitation to connect. Would love to chat with you about your apartments!

@Mimi King - Thanks! I think the biggest thing was underestimating time - specifically, the amount of time it would take to rehab. I was hoping to have both sides rented by mid-March, and that just wasn't realistic.

Thanks, all. It didn't sound right to me at the time, but being new(ish) to this I wanted to make sure.

@Eugene Kemp Lol, no, that's why I'm asking here. He was a reputable speaker, but this sounded off. Getting deposits make sense, but not rent amounts. Just making sure I'm not missing something.

At a recent REI seminar, the speaker said that when you buy a rental property, you get the rents for that year. Like, if I closed in May, I should get Jan-May's rents and deposits from the seller at closing. Is that right...?

Thanks, @Diane Dono!

Thanks, @Trista Fenner!

Thanks, @Alex V.! Good luck on your journey!

@Jay Baker - You've got that right! This was certainly a learning experience.