All Forum Posts by: Nils Hay

@Joshua Janus Thanks for the reply! When listing on FB what would you use for potential tenants to apply on? Would you direct them to Zillow or a similar site? Or use something like a google form? 

@Kenny Dahill Thank you for the reply. I plan on renting the whole unit as one, not rooms. What would you use to process and store all the applications? 

Hello All,

I am getting ready to list my first unit to students. I own a duplex near Ohio State and plan on renting the upper unit (4BD,1 Bath) for the fall semester. 

-Where do you find the best places to rent your units to college students? I am currently looking at Apartments.com, Zillow and FB marketplace.

-Do you have a separate application for them to apply? If so is there something specific added?

-How do get a co-signer on the lease? I am thinking that a parent or guardian would be required to help meet rental requirements? 

-Any tips or tricks to help this go as smooth as possible.

Thanks for all the help!

Hello Everybody,

I will be starting my first job after college tomorrow (1-20) as a Structural Engineer. I am wondering how much I should be saving into my 401K/Roth. I can save a max of 25% of my $5,500/m paycheck (pre-tax number). I am starting out living at home so my only costs right now are car payments/insurance which is about $500/m if you include gas. My plan is sometime during the 2021 calandar year to purchase my first duplex. A few questions are:

How much to save and into which account type? 

Any problems that would come with maxing my contributions to my 401K when looking to buy a home next year?

Would you recommend borrowing against my 401k later to help purchase the home?

Any other tips or advice you have for somebody starting out. 

Thank you!

Nils

@Martin Carstens, I keep hearing that the SLC market is blooming! I just hope that it isn't too high in a cycle if/when I get out there.

@Alyssa Strom I really like that idea of comparing deals in each city, just to get a rough idea of what the general market standards are. Thanks for your input!

@Jaiden Olsen I love to hear that you are a Structural Engineer. Id love to get there one day, along with a licensed PE. I agree that Engineers are generally poor business people (its like we went to school for engineering). I am with a really good company, they have competitive pay and GREAT bonuses and benefits (like a 2:1 401K match plus bonus). They are mindful of overworking the employees (42-48hr week is average). 1/3 of which have 5 or less years of experience so there are alot of young professionals. I do understand what you and other are saying about staying focused on my REI goals and will definitely be mindful. I will forsure be connecting with you about other structural positions in Salt Lake! Thanks for your help!

@Scott Donahue Thats great advice, I feel like I already do that but im sure there is room for improvement!

@Matt Jennissen Thank you for your advice ill be sure to keep it in mind moving forwards!

@Bobbie Dancy

If you know you are going to need drywall done then call a few painters and see who the like to follow. This works with pretty much any part of the rehab/building process except for the foundation guys.

Happy Hunting!