All Forum Posts by: Peter Green

I'm listing my first house for rent near Kansas City, MO. I have had two applicants say that they have service animals. Can I still charge the non refundable pet fee and my monthly pet rent? How do I know that they are not just saying that they are service animals to get out of paying the cleaning fees? Does anyone have any specific knowledge about Missouri laws? or where I can find said knowledge?

Thanks

My (soon-to-be) wife and I both own a home. My intention has always been to lease mine eventually, and now that I’m getting married, hers as well. I’ve never leased a house to anyone.

My questions are: Do we need to put my name on her title so I can lease it out? But, more importantly, if we leave only her name on the title, can she ever be sued?

The house is outside of Kansas City, Missouri in Independence, MO, if that helps.

Thank you for taking a look. I figured the bank would refi 80%. That’s why I plugged in 145k. That’s good insight. I should consider they may only finance 75%.

Thank you for your time!

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*This link comes directly from our calculators, based on information input by the member who posted.

This is my first use of the brrr calculator, and potentially my first deal. I'm only trying to understand the calculator before I make my first purchase. Just out of curiosity, do my numbers look good? Did I make any blaring mistakes? This is obviously for a buy and hold purchase, and I was hoping to receive a tad bit closer to 12% ROI (or is that just a pipe dream?).

Basically, I know repairs - because I'm a carpenter by trade - not numbers. any insight/help would be greatly appreciated.

Thanks

Peter

Hey all, My name is Peter. I'm a carpenter from the Kansas City area (Lees Summit, MO). I was turned on to BiggerPockets a few months ago and have been listening to the podcast ever since (a lot). I do not own rental properties yet, but that is my goal. I'm going to buy and hold one (at least) property per year until the cash flow is enough to replace my carpentry wages (I don't want to work TOO hard my whole life..). I just bought my primary residence earlier this year, which was my first ever house purchase. I work for a GC that has two sides to his business. One side is industrial construction, and the other side is single family residential construction (wherein he builds and holds executive rentals). He is a landlord, and he's been building two or three rentals per year for thirty+ years (without ever selling a single house). I've been working with him for three years now and I have learned more about money/business from him than anyone else my whole 29 years yet (Rich Dad, Poor Dad style). There are several things I look forward to discussing with this community, and several questions I have that will certainly be answered. Perhaps y'all might be able to direct me to the correct forums to post these questions: Does anyone on BiggerPockets build and hold as opposed to buy and hold? Where and when will the next Kansas City meet up be? Thanks for your support!

I am a framer. There is more that goes into framing than I can or care to put into one post. I would recommend renting a carpentry book on it. Framing is not rocket science. You can do it. Larry Haun has an excellent video on YouTube about framing that I would definitely recommend in addition to his book. Put chalk lines on the floor where your walls will go. Lay out your plates (top and bottom 2x4s, or 2x6s depending on wall thickness) inside your lines. If your plates are tight and square on the ground then the walls will be tight and square when you stand them up. Overlap the double top plate (called the crown plate) to tie the walls to one another. Brace the walls with kickers, making sure they are straight and plumb. Keep the kickers on the walls until the rafters and sheathing are on. Please feel free to ask me if you have any questions. I'll try my best to answer.

You can buy the good quality sheet vinyl that will last for 20 years. Buy some seam sealer and put it in the seams to keep it from peeling. Install it properly and it will certainly last a very long time. Also you can buy the long lasting carpet and put it in the low traffic areas (I.e. Bedrooms and family rooms only).

Talk to a lender and see if you're qualified. Any mortgage company will be happy to talk to you. Tell him/her what you want to do. They may say yes, or they may have suggestions for you to become qualified. Then do your research, set a goal, and work to achieve it.

Well hopefully you have a ballpark guesstimate how much rehab will go into the house you want to close on. But as soon as you get the keys and the title clears you can start work.

I don't think something like that exists. I'm a carpenter/contractor and have never seen one. It seems you have a good idea of what goes into a project. Have you ever measured and made a material list for yourself? If you know your square footage of walls and floors, then itemizing becomes easier and easier the more you do it. Be sure to add for waste! Good luck, and please let us know if you find that app!