All Forum Posts by: Matthew Cole

Congrats! What happens if HOA fees go up significantly in the complex? Lots of eggs in the same basket. Just curious if you have a strategy.

Single family and duplexes. I've looked at multi units as high as 8 but haven't closed a deal on a property higher than 2 units. I personally like multi units better than SFH especially starting off. When one unit can cover your overhead you have more peace of mind. my SFH are nice but when they are vacant or a tenant is late on rent the overhead costs are still there with no cash flow coming In. I also believe the SFH appreciation that was earned over the last 4-6 years has neared its peak so it makes them a little less appealing.

Welcome! If you have questions or desire to partner let me know. I've acquired 14 units over about 3 years. Be careful, once you get in..... It's addicting. Good luck!

If they have 25 yeas of experience I would suspect they should have several investors they already work with..... That is, if they are legit and actually deliver. I would pass on the deal or at a minimum get a list of references said investor has worked with in the past

I have a few rental properties that are in need of new Windows. Curious to hear if anyone has a suggested company in SE Michigan They have used. TIA

12 year tenant and your just going to throw him out? What about setting a different standard of living and making him adhere to your rules? Then you keep a tenant who may never leave. Good luck

Any suggestions besides smart move for online background checks? I have a prospective tenant and they are encountering difficulties and customer service for smart move never answered the phone. TIA.

Buying one now. 4.5% "buyers premium fee" is the biggest one I see from Hubzu. Good luck!

Talk to a CPA. You would be surprised how many deductions there are for buy and holds that "cash flow", but still show negative earnings on a tax return.

Are the utilities separate or are you paying heat, water and electric? If yes, then the 3.3% is probably more like 1.8%. I would renegotiate. They will come down. Heck I would have countered at 36-37k since the owner went from 49 to 41 right away. Lots of deferred maintenance means you probably aren't making money for 2 years. Good luck!