All Forum Posts by: Account Closed

Congrats! Keep it up!

I have been slackin on my BP-ing! Back now though!

You can search Craigslist, local newspapers, take out wanted ads in the paper or put signs on the side of the road that say "we buy houses". Even driving through the areas where you are looking to buy can turn up some FSBO leads. Good luck!

I wish i could say those taxes seem high, thats the norm here in detroit metro for non homstead.

I had this problem before, luckily this was while we were still rehabbing the house so there were no tenants in the property yet.

I used "Have a heart" live traps. You can get them from your local humane society i believe. Anyways, each night I put a glob of peanut butter in the trap and set them up in the attic. We caught about 7 squirrels. Also we found the hole they were using to get in and patched that up. The traps work great, however be sure to release them a few miles away from the house, because if you release them too close they will come back! Good luck!

David,

Here's how i see it. Using the 50% rule:

Gross rents: $900
Operating expenses: $450
NOI: $450

Debt ($32,000(28k+4k rehab) 30 yr, 6%): $192

Cash flow per month: $258 or $129 per unit. Seems like a good cash flow to me!

Well I had 3 smoke detectors in the house, and i needed 2 more, so he asked me when I was going to put in the new smoke detectors. I told him i would go buy and install them as soon as he left, so he said "okay" and signed off on it and passed me.

Yeah I hope they all go that smooth too!

city inspection

LOL. Well I was a little worried, but no i didn't start drinking due to Toms list, that began sometime in college.

I installed a new furnace and was worried that he was going to ask if i pulled a permit, luckily he did not. From what i have heard they can ask if you pulled a permit and if you do not have one they can fine you.

I would assume they would not make you pull a permit for a light fixture.