All Forum Posts by: Michael K Gallagher

 Listing agent is looking out for the landlords interests, so unless you are good going in unrepresented I'd always recommend getting your own representation regardless if you are buying or leasing.  

As for those lease numbers, understanding it is still new build I hope there is some TIA built into that base rent otherwise it seems quite high if its a cold dark shell delivery with no buildout. 

nothing is done until its signed but you do risk hurting a relationship with the tenants if they are proven good tenants that have been there awhile I'd simply work on a multi year or longer term lease that has set increases in it so you don't have to worry about it for awhile.

@Jose Ferreiras welcome to the forums this is a very powerful place and I anticipate you finding many great people to connect with here.  you sound like you are off to a great start already!  excited to see you grow here.

@Gregory Schwartz I share in this desire and I also have deal machine.  I don't quite have that budget behind it but would be curious how you are using it?  are you doing the driving for dollars or more of a list pull?  been thinking about going old school lately and just driving areas of interest for distress.  

@Devin James you are 100% correct.  You either have to act fast and know what you are looking at, your get creative.  I personally like the later, its a littler "slower" and the buyer generally feels like they can get all the facts, and puts the buyer in strong position to get remedy or additional concessions.  

We do a bunch of on market deals, just closed a duplex this week that had been sitting, just needed someone to take the time to make a curb offer and get inside.  ended up being pretty solid and turnkey for the most part.

@Justin Verkest i'm pretty familiar with costar, their data is pretty solid, what's the issue you are trying to solve in data?

@Devin James I'm not currently doing it, but I've for sure toured some properties in my market that I think would make great candidates.  At least in my market I think the older homes that only have 1 bathroom would be challenging to rent in this manor but if you went into with intention and in a high density area I think its a great play. 

thanks for sharing @Arman Ahmed what a great deal, and solid return.  is the auction the reason you think you got such a low purchase price, or is that somewhat "standard" in the market for something of that condition?

@Chris Lo if you are considering renting out your current home and moving my biggest suggestion would be to consider an owner occupant 4 unit loan.  The down payment and rates will generally be more preferred and you may be able to get into an area with additional incentives.  you get your current house rented, and your 3 units paying for your 4th ideally.  

Welcome @Jennifer Lee I've got a great RE lawyer her in OH will shoot their info you you in a PM.

What is interesting to you about the dayton market?