All Forum Posts by: Nathan Wankel

@James Dresdin

It would change the value of both houses for sure. My thinking is that they are going to require the properties to get a new appraisal.

@Caleb Godsey

Set some money aside for CapEx. (New roof, HVAC, etc.)

I would think about having the tenants pay the utility bills. That would increase your cash flow and give you extra money to put aside for CapEx.

@Kevin Gallagher 

I love the Kansas City market. I partnered on an SFH in the Independence area earlier this year. When I went to visit, I loved the city. There are a lot of good areas, and I suggest looking into the Independence, Raytown, and Buckner areas. Also, try to stay on the Missouri side because they have friendlier landlord laws.

@Kyle Hern 

You would be looking for the most landlord friendly states if your going to be renting the property out. 

Top 3 

1. Texas (both easy eviction process and relaxed laws)

2. Arizona (easy eviction process)

3. Florida  (relaxed renting laws)

@Dakari Mitchell welcome to BP. Congratulations on starting your REI journey!

One option would be to house hack a single family home and get your feet wet but if your like me and don't like roommates you can do flips or wholesale to get money. Another option would be to save and wait till you have enough to house hack a multifamily property. 

@Collin Savunen I think it's tough for even a well-versed economist to predict when exactly the market will crash. There are so many variables to it even someone that analyses the stock market for a living couldn't possibly know when the market will crash.

@Moises B. This is a great idea to keep tenants if you only have a couple of units. However, I can see it becoming a significant expense if someone has multiple doors. Especially if you have a few multi-family properties. 

@Sarah Young I suggest charging a pet fee. That way it covers any damages. 

@Gil Ganz I live in Denver, And it's hard to find a good deal because the market is overpriced at the moment. There still are good deals, but I find out of state deals to be more appealing. For that reason, I think investing out of state with a turnkey provider is better. However, if the numbers work and you can get good cash flow then do it.

@Reggie Maggard PO boxes aren't typically that expensive. I had one at UPS for about a year, and if I remember correctly, it was a little under $150 for a year.