All Forum Posts by: Michael Beninati

Hello,

I always go to Craig's list when searching for practically anything, so of course I list my vacant units there first. Could anybody suggest other places online I could advertise for maximum visibility ?

Hello,

I'm trying to wind down on doing most, to all of the work on my 3 properties. I'm in the position to be able to pay for more stuff now, but I'm having a hard time finding good people. I can't afford to just go to the most reputable/priciest guys yet. Craigslist is so questionable although I have found a couple good people over the years, but most end up sounding great over the phone when i first call, and some even do some good, reasonably priced work for me, then end up being flakes or shady. I give them what they ask for money wise, and then some when I feel they deserve more for what they've done. I also stress that I have a lot of work and can give them continued business. I don't know why guys place ads then seem to not be interested in obtaining on-going business.

I know there are people that come and work for 100.00/day or the the neighborhood of, that are even semi skilled, but how do I find these guys? Any suggestions? I work 50 hours a week at my day job and need help. 

Thanks. I'll definitely tell him to do his homework on screening tenants. I'm pretty sure he's only willing to rent to someone good as he's 4 hours away and realizes he can only take on an A1 tenant. I think the price point helps out there too.

A friend owns a house in the Wilmington, NC area about 3 miles from the beach. He would like to sell but had some good, low management tenants in there so he was fine with that. They informed him they would be moving out however. He asked if I felt that putting the home up for rent AND for sale at the same time would make them look more motivated/desparate as sellers. I told him that I feel it would not because it shows people that they are not in a situation where the house MUST be sold, and therefore have the luxury of renting or selling if the price is right. I havent seen it but it sounds like a nice neighborhood with the sale price being in the 425,000 range. Just hoping to get some other viewpoints to pass on.

Good Job!  Definitely pays to ritually search for deals. As most probably realize, if it's a good or great deal it's going to be gone fast, so you have to see it quickly and act quickly.

It depends how much work you want to put into it. It's my opinion that rentals in the higher price range take so much less to manage and collect rent, that it's throwing10% out the window every month to hire a property manager, not to mention a hefty placement fee.

I thought about taking the easy way out by hiring somebody for  house I formerly lived in located in a great neighborhood. I'm glad I didn't because I have great people in there now who treat the place as their own, and a steady dual income. It was a little more of a time investment up front, but it's definitely paid off. I have a few other units in not as great neighborhoods which may be more worth paying somebody to screen and take calls for me.

I used the NOLO legal guide for landlords by the way to get my lease and some definitive answers on a few things

Thanks Jean and Kyle. I do have a good feeling about the property and the neighborhood. I've actually lived here for almost 5 years, but alot of the development I always expected to see really seems to be taking off in the last 4-6 weeks. Just today I saw another large building being demo'd, which will surely be replaced with something. The financing would be optimal for this as well as it's a homepath property. One thing we are not wanting to do is tie up all our cash in any purchase. This is a low down payment and we can also finance any repairs which makes it more of an attractive opportunity for us.

I think so. I mean after mortgage, ins, etc, I'm estimating about 200.00.

Hi,

I am new to investing. My business partner and I recently bought a duplex for 39,000 cash which should make about 1400.00 in gross rental income per month, which we feel good about. Our plan has been to buy low which means buying in lower income neighborhoods to maximize cash flow.

My neighborhood is quite established and is currently experiencing a growth spurt with a large mill being renovated to apts and retail, at least 2 other large scale apt/condo projects under construction. The light rail is also scheduled to be in operation in 4 years providing commuter transportation downtown.

We have the opportunity to buy a house listed for 133000 in a great location in this neighborhood. We could probably cash flow about 200.00 /month conservatively. This house is renovated to the point where we could get renters in immediately, complete with appliances, and in a highly rentable area.

I know you're not supposed to gamble on future appreciation, but there are barely any houses available in this price range, the location could not be much better, and the yard is fenced and large.

I was hoping to get some experienced investor opinions regarding the concept of receiving less cash flow( but still positive), for the potential of a huge increase in value not so far down the road.