All Forum Posts by: Marcus Bartels

Still have the property? What area is it in? Thanks!

@James McFadden 7 doors that's awesome! I'm at 4, ready to grow! My rona situation has been good to me 100% paid... all 4 lol. 

I have an hour commute to work, so audible and podcasts is what I live on. I have to agree with @Karl B., Never Split The Difference was fantastic. I really enjoyed The Millionaire Next Door as well.

@Mike McCarthy thanks for the reply! That’s what I was thinking, I appreciate it!

Hey BP,

I’m managing 4 units for a distance and am trying figure out the best system or solution to the keys.

My first thought is to have a boots on the ground person I can trust to collect keys and take pics of units when tenant leaves. What do you guys do? Electronic locks with remote locking?

Thanks!

Do you need to do a full background and credit check for a medical/dental/pharmacy student when screening? Presumably they have already cleared background checks.

Thoughts?

Make a system for this so the steps are automatic next time this come up.

Do you have pics of the unit already? Advertise now on all the free listing sites mentioned by @Karl B.

As far as screening goes, you can use a (free) site like cozy or tenant cloud, or BP has a couple providers they work with as well to screen.

Good Luck!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Erie.

Purchase price: $265,000
Cash invested: $46,000

House Hacking a duplex and bought the duplex next door! 4 doors! Bought as a package deal with the duplex next to mine as well. FHA loan on this one allowed me to put a conventional down payment and get the one next door as well.

What made you interested in investing in this type of deal?

Wanted a SMF and cash flow!

How did you find this deal and how did you negotiate it?

Found this on the MLS. Seller was selling this duplex and the duplex next door. Seller was asking 150k for each, I offered 125k each. She countered 140k each. I countered again best and final at 265k total (instead of the 280k she countered with), but needed the purchase price of the Investment Property duplex to be 125k and could pay 140k for the Owner-occupied property.

How did you finance this deal?

3.5% FHA 30 year the owner occupied and conventional 30 year on the investment duplex.

How did you add value to the deal?

Plan on renovating the bathroom in each unit as I turnover. Focused on curb appeal at the moment.

What was the outcome?

To be determined!

@Habbak Burs I don't think it's an issue to use them both. However, as @Joe Funari stated, be transparent with them. This business is all about relationships. Good Luck!

Hey @Joseph Fernandez, No luck. 

@Dave Van Horn Nice! 

I’m actually looking for an agent to work with myself for an investment property, seeing if you had someone you recommend.