All Forum Posts by: Michael R.

If it is not owner occupied I would check the city or county for the address where they mail the tax bill.

Cant get anything less than 140ish here. Even than its real tiny, in a flood area, or the ghetto. Thats why I don't buy in my area. I buy 6 hours away and its worth the drive. Just picked up two duplexes for 700$ each. Each needs about 3k and will rent for 1k per property. I do all my own work, the driving sucks but its worth it. I also never buy off the mls not any deals there and I find better stuff on my own.(with no competition)

I always include any cash I have in the deal in my analysis. If you buy a property for 400k with 1000k in rents it will cash flow negative. Now if you were to buy it cash with no mortgage payment it will cash flow but you will have 400k tied up in it so how long will it take you to get back the 400k? I would include the 287k in your analysis included whatever interest rate and points etc you are being charged. Im sure someone more knowledgeable will explain better. lol Good Luck

I have not seen the RRP rule being strongly enforced yet nor have I heard of it being strongly enforced. I have heard of cases where people were fined though. Really though what is your motive? Your 2 posts I have seen are about the RRP rules and you have a link in your sig for a website selling RRP compliance supplies...

I prefer wood floors as they don't easily get stained. I usually have really old wood floors in my houses though and the older they are the better they hold up. I dont know how well a cheap wood floor or laminate would hold up. Since it is a small house maybe you can get away with stick on type tiles or something? Really depends on what kind of renters you rent to. I have one house that is all stick on tiles and it does not look to bad. (low income place)

Based on the quick facts you provided I would buy it ONLY if I had a decent property manager in place prior to purchase. Also just need to be aware of the headaches of low income rentals and be prepared. This is better than the last deal you presented.

since this is being revived ... I used to use pex now I use cpvc. its much cheaper and you dont need any special tools. Great for low income rentals

you can probably get better mpg by just watching how you drive. I read a few articles on hyper-miling and they are a little much but it shows if you are more conscious on how you drive you can actually save a lot of money.

Thanks for the replies. Everyone address some of my concerns. I think I might just build a small closet on an exterior wall and put a regular furnace in it and run ducts along the top edge of the wall. Lots of houses seem to have the space heaters but I really dont want to run the risks involved just to save a few bucks. Thanks for all the help!

I am looking at a rehab in the hood and it does not have a furnace or any duct work. It has natural gas connections in most of the rooms. The seller said that space heaters get mounted on the wall and connected to the natural gas. I have never seen this before and I like it because if I have a vacancy I can pull the heaters and they wont get stolen. Plus I can get and install them for really cheap. I am nervous that they dont vent to the exterior and I know they can be a fire hazard if not used correctly. However this seems to be how the house was built. Dont think I could install a furnace and ducts in this house. Any one have experience with these? Are my worries justified?