All Forum Posts by: Mario Morales

 Thanks John, will do!

 Thank you so much!

Hi, my tenant for this month only, will have an organization pay his rent, 1200. I was sent a W-9 form, will I pay 28 % in taxes and should I make my tenant aware of that or will this be the same as receiving rent and paying taxes on it at the end of the year. 

Thank

I saw a 3 flat next to the train station and said "if this unit brings in 1100, the 2nd unit $800, and the 3rd unit $400, I should make some money here". I had no idea bigger pockets existed, just a very, not recommended, way of analyzing this deal. Units 2 & 3 couldn't pay rent, so I nearly evicted 1 and unit #3 just left, I was in the negative, 100 a month. I fixed up the other unit with the bare minimum and house hacked. Started to cash flow. Got my realtors license to understand the business a little better. This building allowed for buildings 2 and 3. 

I shot 1st and aimed 2nd.  I got lucky and maybe the hard work that I put into it paid off, not sure. 

 Its 3 families with a total of 11 people. I do the dryer for free but when that craps out, I'll get a coin operated dryer and add to the revenue.

 Hi Jonathan, I like your idea on the tankless water heaters, what is better overall for a tight spot, I have a small utility closet where I have a 40 gl water heater, which will need to be replaced at some point. I think I should get rid of it and install a tankless to give tenants more storage room. 

Can anyone recommend a safe neighborhood for my son, looking to rent for the early fall. Thanks in advance 

Can anyone share how long it took to close? Any experience worth sharing?

not sure if you mean unit as inside the apartment or the building. If there is a common space, get a coin operated machine, I have one at one and it brings in about $150 a month. The dryer is free, for now. 

@Doug Smith that was an awesome example, are there any calculators out there or is it just a simple DTI calculator?