All Forum Posts by: Matt M.

@Christian L Babcock

Electric heat is the worst, then oil. Most everyone prefers natural gas.

@James Wise

Unfortunately that doesn’t work by me. The electric and water companies will only transfer service automatically to a landlord when a tenant calls to cancel service. If it gets shut off due to non payment I’m SOL. I’m not sure about gas

@Albert Brown

I bought a foreclosure, 20% down. Lived in it and fixed it up over 5 years. Sold it, walked out of closing with tax free profit of $85k. That was enough to put down on a new primary residence and paid cash for and rehabbed another foreclosure to use as a 1st rental.

Rental income is $1200/month, expenses are $300 month. Winner winner.

Good luck to you, work hard and save your $!

@Fred Engh

I bought a foreclosure, the bank was a pain in the a&$. My realtor ended up making $375 for countless hours. Take taxes out, left with about $8/hour. They don’t make as much as you think sir. Their time is valuable also.

@Alex Varner

As a contractor myself, I only ask for 1/3 down. Unless there are special order items in which needs to be paid for up front, like windows.

thanks for the input guys. I guess I’ll see what this round of applicants brings...

Hey guys,

I have a property that just went vacant. In the process of cleanup/fix up. Undecided as to what to do, rent again or put on the market.

It is a half double, duplex, twin. Lots of names for these depending on your area. I own the one side.

3bed/1.5bath 1450 sqft.

Purchased Dec 2015 $23,100 rehab costs $14k, no loans.

Had been rented 2.5 of last 3 years.

House rent $1050, garage rented at $125 separately. The house owes me approximately $17k.

Market value is $90-105k. The garage is huge, structurally sound but won't pass FHA as the outside is fair (needs siding)

It is in a B-C area. You either get a good tenant or you don’t..

should I keep it and continue it being a cash cow or try and sell.

@Sherman Dunn

We looked at a potential flip, until we figured out it was in a flood zone. SF house, 1100 sq ft, flood ins quote was $3000. We figured a big turn off to potential buyers, so we passed.

@Jen W.

We will never ever do a pit or any other aggressive breed dog. It’s just not worth it.

@Dennis M.

Yeah thanks. I thought us Pa guys had to stick together