All Forum Posts by: Marissa Carroll

I've been having issues with the search not coming up with anything relevant recently. It pulls completely unrelated posts. I usually go to google and type my search with "biggerpockets" after and get much better results. 

Has anyone else noticed this?

Hey BP Community! 

I'm trying to get some things sorted out for a first buy and hold property. It's a duplex and I will be living in one unit, so only one will be rented. I plan to have the tenant pay for all utilities. I've read a lot of stories about tenants not paying their water or whatever bill, leaving, and then the utility comes after the landlord. I've been thinking a third party billing agency for water/trash/sewer might provide some protection. 

Does anyone use one of these for a single unit? Thoughts or recommendations? For reference, the duplex is in Kansas City, KS and is seperately metered. I think there is some differences in the way utilities are billed here (Unified Govenrment slaps a big ol fee on top of your bills I'm told), so I don't know if that changes anything. 

Thanks everyone!

@Alicia S. I just found the rental calculator at calculator.net and it seems to have rosier numbers than what the BP calculator produces. I checked a couple of times to make sure the data put in was the same. Have you noticed this? Or compared the projected results with actual results yet? 

I think I understand the basic concepts of the varies return qualifying methods, but when I start looking at things like the IRR algorithm, my eyes glaze over.

When I've been getting insurance quotes on duplexes, and telling the insurer that I will be living in one side, they tell me it's best to get a landlord policy that covers the structure and carry renters insurance for my personal belongings. That's what USAA and Farmers have told me at least. 

Just my two cents as someone who has rented for the past 11 years. Never has a year passed that my rent hasn't gone up. I expect it to. It's usually not much, about the inflation rate for the previous year... sometimes less. Last year was 2.6%. I would raise it incrementally from now on if I were in your shoes.

@Matt K. Same here. There are good parts on Independence on the east side, but it's still not worth the hassle to me. Fingers crossed it doesn't pass in KCMO. I'm on the Kansas side so I can't vote.

A lot of the larger apartment complexes where I live have varied rates based on length of lease. This always seemed like a great idea to me. They basically add the risk into the price. For example - 

- Month to month - $950 

- 6 month - $875

- 1 year - $815

Interesting approach at least. 

Thanks for the input everyone!

@Matt Pritchard I've been wrestling with that myself - getting a good deal in an acceptable area vs an ok deal in a good deal. Thanks for the input!

@Matt Pritchard The quick and dirty metric I've been using is one side covering the PITI; that way I know it works when I'm not living there. That being said, the more desirable the area/property, the more I'm willing to contribute to a point.