All Forum Posts by: Michael King

I'm in the process of buying a 4 plex. In the last 4 years, property tax has increased 58% on that property. So an increase in rent of 3% will make me an instant millionaire. 

I'm not running a charity. 

Pure gold. 

For those using GV, can you use the number to set up payments like Zelle?

In my experience a home warranty company won't replace a broken HVAC, or anything for that matter. They'll put you through a full 12 months of constant repairs after routine breakdowns - often when the part they replaced is the one that breaks. American Home Shield, I'm talking about YOU. 

@Gurkaran Grewal thank you for this post. I guess this means if the tenant trashed your joint and stopped paying rent, then if all you had was a docusign or other e-sig, then the tenant could claim they weren't aware they had to pay rent and not trash the joint, because you wouldn't be able to prove the tenant signed it electronically. Unless you also had a wet signature on the lease agreement. 

Am I reading this correctly?

Okay did the search thing and getting a lot of options...the first screen of results were a few years old but now I'm getting deeper in, they are newer. Huh! 

I'm in the early process of reading Brandon and Heather's book on Managing Rental Properties. Chapter 2. 

A question I have is this: I want to have leases signed electronically, like using Docusign for example. Are there any alternatives out there that are comparable?

Maybe the book will answer the question. I appreciate the replies!

@Nathan Gesner I am of the same mindset and appreciate your comment; reinforced my thinking. I signed the contract today!

@Bjorn Ahlblad Yes I plan on leaving it undisturbed but will put fresh carpet or something down. Interestingly, you need to do a lead paint disclosure for sale, but not a peep for asbestos. My belief is that asbestos is the more hazardous of the two. 

@Dena Puliatti Thank you Dena. The tiles are in the entry/foyer at the bottom of the stairs. Can't remember if they go up the stairs or not. I hadn't thought of plank and I like the idea. But since it's the foyer, I'd rather something more commercial like carpet or even ceramic tile. But then there's the noise aspect, so I think carpet will help the tenants with their 'peaceful enjoyment.'

@Account Closed Marcus have you moved to STL or are you an OOS investor?

Jill great question! So at least $200k for an SFR might be a possibility, but it will be weathered. I did look at a 100 yr old 2 story for $155K that needed to be rehabbed. Badly. And I wouldn't have gotten $1500 rent.

The big downside I see with this neighborhood is the city won't allow AirBnB in multifamily buildings. But that's not a huge problem for me.

There is a duplex around the corner for $269, one side has been rehabbed. Prices here are terrible unless you're in the warzone, but then, you're in the warzone. I don't want war.