All Forum Posts by: Fidelis O.

@Michael P.

Lol. Good try. I like my name the way it is

@Christopher B.

I agree with you. I also invest in Toledo and have no problems getting good tenants at even slightly above market rent. So I don’t really see a need to invest anywhere else. If you have a nice well kept home, tenants will pay a premium for it no matter the market.

@Stephen McDonald

I actually own a property just a few houses down from this one. Wanted to make an offer on it but sellers agent was being difficult. Wanted an offer made before I could do a walk through. I said f it more deals will come. What I can tell you is that rent could definitely be much higher. This is a very safe neighbourhood with mix of renters and owners. Can’t type much now but it looks like your numbers are very conservative which is a good thing. Only problem is it will stop you from doing deals if you focus on just numbers and ignore hidden value.

@Derek DeVerna

Great job. This looks beautiful. I can’t believe you got it for that price. I live in Toledo also. If you have any similar deals in the future let me know. I have some cash available to invest in the right deal. I’ll PM you

@Michael Noto @Theresa Harris

Thanks For your replies. I will screen him like anyone else. Just like I have heard over and over again that lawyers make difficult tenants, I was wondering if it’s the same for agents (since it is their line of work)

I know all about fair housing and you can’t discriminate against anyone but that is not what is about.

I also know the answers may be biased since a lot of people in this forum have a real estate license.

I am a new investor. A guy came to look at my place today. Told me he was a real estate agent. He said he owns a home but having issues with wife so has been staying in a hotel. Wants to move in tomorrow(his exact words). This is a 3 bed 1.5 bath home and he says he would be the only one living there (why would one person live in a 3 bed townhouse??). He wants a 6 month lease. If he is an agent he likely knows the industry better than me (I’m assuming).

Any precautions I need to take? He drops off his application tomorrow and I see what credit/ background etc shows.

I am new in REI and just bought my first rental property which was a duplex. I am thinking of scaling up right away while I still have the momentum behind me. I work full time and my wife is stay at home mom and the goal is real estate professional status for her to offset some of my income. I prefer nicer properties with minimal maintenance and quality tenants. I am looking at an 8plex with 2 bed, 1 bath each in my home town. The numbers posted with the for sale ad is this:

NetOperatingIncome 47130

OperatingExpense 26730

TotalActualRent 6155

Based on county records, This property was sold in 2001 for $450,000 and 2006 for $545,000. However in 2017 it was sold for only $380,000. Not sure why current seller is selling only 2 years after considering they bought at what I would consider a deep discount.

Considering these numbers , would you buy this property? How much would you offer? Thanks in advance

@Michael Temple

I forgot to mention. I have zero interest in doing any repairs myself including painting except it’s really minor. I know my skills and this is not one of them. Lol. I would rather spend my time doing something else

@Stone Jin

@Michael Temple

I have no interest in C/D neighbourhoods. Not worth it for me. My Rental is also on the higher end. Estimated rent is anywhere from1800-2000/month (its a duplex). Home is in good shape. I do not anticipate any major issues. However I’m also trying to build a team so I have someone to call right away instead of being reactive. If you have any contacts, inbox me. Thanks

@Seun Saka I had the same goal of buying my first rental by midyear. Though a month late I’ll be achieveing that goal before the end of this month. Don’t give up the dream and good luck