All Forum Posts by: Patrick McGrath

@Stephen Predmore

I love the Maryland Investor Network FB group, have got a ton of great recommendations that have turned out great.

@Sam Lewis

Buy as many properties next Canton by the Target and Iron Roaster for $50-$75k each. Wait 10 years and sell them for $500-$700k each! Lol

@Harman N.

I would replace the water heaters $500/each plus labor , have the furnaces serviced and get a quote to replace.

I had a water heater go out on a Sunday with a family of 5 living in unit. Cost me $1400 to get it replaced when I could of did it for $500 and some time.

Replacing a electric HW heater is extremely easy, YouTube is your friend. If they are NG, hire a professional.

@Kaylee Pratt

Bought my First Triplex in November for $200k (3) 2/1s. Total rents were $1400/month. We completely renovated the property over 4 months doing most work ourselves. Total renovation was $15k. New total rents of $3500/month, It appraised for $350k and we just finished cash-out refi. Got total investment plus $10k back out. Still have $105k of equity left in the deal and cash flows $1950/month before maintenance, vacancy and Capex. This was are 3rd deal ever done.

Infinite return BRRRR! It's a beautiful thing!

@Pete Harper

Wow! Amazing

@Jake Garrity

Congratulations on your first BRRRR! Property looks great! On to the next one!

 You log into the app and under applications you will see completed applications. They will verify a persons identity, the background check with show clear for the different offenses or show the criminal offenses they have. Credit check you receive score and on time payment % and debt service % plus any collections. 

The app is meant for marketing and applications on your property. You can collect rent as well but we use Venmo. It is not really meant to manage your tenants, maintenance issues and stuff like that.

Hope this helps.

@David Shiling

Do not rent to Friends and Family!!! Do a background, credit check, employment verification and call previous landlords. I know this sounds simple, but 90% of problems come from not doing these simple things.

Thank you sir!