All Forum Posts by: Mark Gabriel

Thanks, James. Appreciate the quick response. This is a wood-fired fireplace and I was thinking along the same lines with the decorative brickwork or temporary design to block off the front portion. 

New investor looking for some advice on a fireplace in a rental property (See below). I do not want to deal with the liability of allowing tenants to use the fireplace, so we have a clause in the contract that stipulates that the fireplace is not operational and is never to be used by tenants. Would be interested if anyone has any experience with temporarily shutting down a fireplace on a rental property and how they handled the front-facing portion. Thanks!

P.S. This is a wood-fired fireplace not gas.

Wanted to revive this thread. Recently submitted an offer on a place in Pottstown and was hoping to get some guidance on the license and inspection process. The unit is currently listed on the borough site so the previous owner has gone through this process. Any insight is appreciated. Thanks.

@Antoine Martel my calculations show that I would be getting 13% CoC return without factoring in repairs, vacancy, and cap ex. If I budgeted 5% for each of those areas (probably a little low) then my CoC would decrease to 5%.

Thanks @Antoine Martel and @Jennifer Slaughter for your replies. This is helpful. I suppose my struggle at this point is trying to make the numbers work on a financed investment property even when you achieve the 1% on rent. After adding in mortgage, taxes, insurance, repairs, vancancy, long-term cap ex., property mgmt., etc. it seems like the return is quite low as a generalization -- especially on turnkey properties where there is little to any forced equity. 

Originally posted by @Christof Gardet:

Mark Gabriel yeah I have had the same problem I tried to download it to my phone, did not work put it on my computer to try and transfer and that’s a nightmare. If you find a remedy I would greatly appreciate!!!

 Looks like it might be too big of a file. I am going to try the suggestion above and see if it works!

I am currently in the process of reviewing a few options for our first rental property purchase and I was wondering what a typical return looks like on financed investments? I have read that the basic rule of thumb is the 1% of the purchase price from a rental standpoint, and I would love to hear a little more about some of your tangible experience around your returns and cash flow on some of your properties. I am looking into out-of-state investing (shout to to David Greene) in markets suchs as Memphis, Jacksonville, and Indianapolis. Thanks and Happy holidays.

Is anyone else having issues with downloading the audio book?