All Forum Posts by: Nicholas Coulter

Kevin this is great but marketing post room fill wont mean much so I wouldnt worry too much on it being perfect. 

Get great photos, offer similar amenities as people in your area. Post the home on roomies.com, FB market place in your area and reach out to renters that are qualified. 

What are your tenant right laws like in Cedar Rapids? Can you end the lease and get new tenants in at market rents? In my experience land lords who have that length of tenant and they can show rent rolls of payments on time are ok with sub market rents because the tenant is so "easy". With you paying market price you may not feel the same. 

Did you waive your contingencies already?

What are other rentals near your area offering in terns of finishes on the bathroom? I would match those and stay clear of over improving the place. 

@Wayne Toh i suggest exploring a HH. Its your first deal and going out of state requires a deeper level of expertise IMO. Also if you are looking OOS 20% down is frequently required and on the average price you're looking at 40k-80k down...

That is the risk you run @Connor Castillo. You dont include them you may have gotten shut down. What I can tell you is that if you get caught renting out a unit like that my guess is fines will out weigh the benefit. Especially if there is no multi families in your zoning area. 

Not a huge fan of dropping that much to buy the loan down to 4.5% on a rental. If you can cashflow at todays rates why not invest that money elsewhere. If you cant, sinking money into a rate buy down seems to be a fools gold IMO. Now the question of 10% down to get an extra 3% concessions sounds good. Free money since you are putting more down on the home. 

Ashley have you connected with a local investor/agent? I find agents who are also investors are the best guide for learning and developing a strategy to buy.

Welcome Collin. I am sure the discipline and work ethic from your service will carry over to REI. I would start to look to connect with people in your local area and see if there are meet ups to attend outside of learning here online.

Welcome to the community. Sounds like an ideal place for you to share and consume knowledge.