All Forum Posts by: Neil Hauger

Hanging sound proofing in the sleepless tenants place may be the answer. It would show I care. I’m not inclined to foam inject my walls though for one issue in ten years. Maybe moving the bed could also help. I’ll start with that. Thanks.

Sorry. When I called the alledge snorer he got a bit upset I got bothered with such a foolish issue and said he should have come to him versus calling me.

I have had this triplex for 8 yrs. never had This complaint despite this same guy living in the end unit since it was built. Not sure but I assume this construction is to code. So I don’t think I have “thin walls”. Maybe injection foam insulation is the answer but what if I do that and it doesn’t work? Do I get repaid? Likely not.

I have a TRi plex. The tenant in the middle unit recently sent me an audio recording of his neighbor snoring. Seems their master bedrooms share a wall and the snoring can be heard through the wall an it is keeping him awake. He has tried fans, sound machines, sleeping in a basement room but the snoring persists! A few months ago He sent me a notice of the disruption to which I responded and called the purported offender to let him know of the issue. I also asked the complaining tenant what he expected me to do? Then no response. Three months later I get an audio of the snoring. He is asking if I can install some sort of sound deadening material. Anyone every had this issue? Got a solution?

$4500 a month cash flow on a $110,000 purchase sounds suspicious to me are you sure about that?? I would definitely verify the commercial status and any restrictions for renting. Something doesn’t seem right about $4500 a month on $110,000 purchase that’s one hell of a deal if you could pull it off. Just do your homework.

Thanks for the input. Middle of the night phone calls are a matter of poor mgt in my opinion. I have had rentals since 1997 and never had one middle of the night phone call. Granted, I am small time I know. But, I think I pre- handle what is an emergency with my tenants. Train them. These would all be young adults. 30 ish. Common area damage is a potential issue I guess. And anytime there are multiple people chance for issues goes up! Appreciate the fast and good input friends. I’ll let u know if I can pull this off. One last question. What cap rate do u shoot for on a duplex? I usually look mainly at ROI. I guess I don’t understand the differences. Thanks?

Here is the situation. I’m looking at buying a duplex. Currently under rented for the market by an easy $500/ mo. I can get it to cash flow really well if I were to rent one side by the bedroom. $700/ bedroom ($1400) . Month to month is my plan. The other side has a mom and two kids. My kind heart doesn’t want to put her out in winter. I’d rent to her for $900/mo. 12 mo lease. Which is still a great deal. Eventually I can get this unit to $1200/mo with upgrades. My wife says I can’t do that. I’d be discriminating as she gets two bedrooms for $900. The other side has to pay $1400 for the same place. My answer is “so what?” They don’t have a yearly lease. They pay monthly. Is my argument fair? Is there rent police going to jump on me?

Put those numbers into one of the property analysis calculators. Be conservative. Don’t be tempted to go with best case scenarios. Be conservative. The calculators will tell the story. They are very useful.

Buy his property based on good intel. If u have done your market research you will know what u can rent if for and how it will perform for you. To me sounds like u have one empty unit. One that will be or can be empty in May. Set the close out 60-90 days. Allows for one re get to almost complete their lease. U may have them for a month then you can either renew the lease with your terms or ditch them and find your own. I’d have a little extra cash on hand as you may have to carry this property for a few months. But in the end you will have it on your terms with your renters

Agree. Consider hard money lending. Beware of out of state buying. Managers will rape you with mgt fees. I don’t care what a time says. Logistical nightmare. Consider hard money lending. Keep control of you money as best you can.