All Forum Posts by: Levi Painter

@Jon W. Alright great! Thanks for the information I appreciate it!

Thank you @Jon W. that makes sense! Also, what is the best option for a lease? Most college students seem to move back home for the summer, so is it best to offer them a nine month lease? or is a one year lease standard even if they aren't going to be living there all summer?

Hey everyone,

I am looking at buying a rental unit in Michigan in a college town. If I do end up purchasing this property, what is the best way to market this rental property to college students? Also, how much do college students care about what a property looks like? Any advice would be appreciated thanks!

Welcome to BP Russell! I am not an experienced investor as I have not made any real estate investments yet, but they always say that the first investment is the hardest. Once you get that first deal finished the second one will be much easier. Good Luck!

@Johnathan Alesso Thanks for the incite it is much appreciated! 

@Richard Ball Thanks for the encouraging words I appreciate it!

@Richard Ball It went well. I don't think that I am going to pursue this particular rental property, but it was a great learning experience. I have moved on and am still looking. The rent seemed a little low and after running the numbers I just thought the cashflow was a little low for a three unit rental property.  

Hey Everyone, 

So I am looking at my first rental property this Saturday near Lansing Michigan. I am wondering what the most important questions are that I should ask the owner of this three unit rental property? What do I need to know about this property? Any suggestions would be appreciated!

Thanks!

Thanks Ken! I am not positive I could get it for $60,000. His asking price is $80,000 but he seems to be a motivate seller because he actually just had to move out of the state and can't monitor it anymore and needs to sell. For this reason I would try to purchase it for around $60,000-$65,000. 

Hey guys, I am a sophomore at college and looking at purchasing a rental property soon. I am looking at a 3 unit triplex that currently has tenants living in it. With all 3 units it rents out for $1,700 per month. It sounds like I could get the property for around $60,000. Is this a good deal? Also I am only working part time since I am at college, and am wondering what is the best way to finance this property? Do I need to find a private investor? I don't think I will be able to get a mortgage from the bank. Any thoughts?