All Forum Posts by: Mike Heth

Hey Edwin, I'm just across the river in O'Fallon, IL.  I may be looking into the STL markets moving forward, as property taxes are out of control over here.  Were you an agent in St. Louis? 

@Sean OToole that makes perfect sense, thanks for the info!  Didn't even think about that.  I'll give it a shot

It was all the surrounding cities/towns minus the D and F areas. Regardless 2500 to 500 because of the bedroom filter? Doesn't make any sense to me...

Quick Q for all you DM wizards out there.

I inserted my criteria into Listsource and all was well until...

I chose 2-5 bedrooms.  My list went from around 2500 to 500.  I don't understand this as I have SFRs, Duplex, Tris & Quads selected (there aren't many of the latter 3 in my area).  I even tried 2-100 bedrooms with the same result! 

Can anyone guess what the issue might be? 

Thanks a million!

What Matt said! Should be all non-taxable

I'm sure you know this, but maybe consider moving back in for a couple years before you unload it? $600k untaxed is reason enough for me to bite the bullet, but life situations obviously play a big role.

Welcome to the site Muhammad! Great to see someone from across the world involved in this amazing resource. I would be interested to see how much different the market is way over there.

I think this would be a great add to the site. Where better to find someone like minded with an obvious interest to better themselves?!

Thanks for the feedback Greg & Nancy!  I don't like jumping around especially when I have a kid, but the difference between paying rent and house hacking is like $1500 a month (all things considered) and I'm trying to save for other investments. 

I really don't want to have turn over at the moment, but there are advantages to having a smaller family with less wear and tear on the property, obviously.  If they move out of course. Thanks again!

Hello BP!  I've been on hiatus for a while after my divorce.  It's great to be back.

Long story short: we house hacked a duplex while together and I kept the place.  During the split, I moved into an apartment while renovating the vacant side.  Now my lease is up and the renovations complete. 

The rented side is paying below market rents and needs renovating--cosmetic stuff, but still a few grand.  Now that I'm ready to move back, do I move in the vacant, rent-ready side, and/or increase the current tenants' rent; taking a risk they move out.  Their lease is up in July. 

I feel like I have 3 options:

-Move into the currently vacant side and keep their rent the same or increase slightly (still below market rent). This ensures I don't have turnover at the moment.

-Raise rent to market ($150/mo difference) and see if they move out.  If so, move into their side and rent the currently vacant side at market rent. Renovate their side while living there.  This creates immediate turnover and more renovation costs upfront.

-Raise rent maybe $100 and do slight renovations while they are there.  This "justifies" the rent increase and makes them feel like they are getting something out of it.  Only issue is they have 4 kids and I don't want them to take a toll on the new cosmetics when they're happy enough with what's there now.

Opinions are welcome from all!

Thanks guys,

Mike