All Forum Posts by: Ralph Poirier

Great info!   Thanks 

I use Stessa!  I find it easy to use. They are basically a startup so they are constantly making enhancements. Based on what I’ve seen I’ll be sticking with them.  I connect my accounts to ease the data entry work. I’m also deeply aware of the system they are using to connect to my accounts. It’s one of the top systems in the market. I’m not concerned from a security perspective. 
Good luck with your search!

If you are making $1k in rent and only $300 in profit where is the money going if you don't have a mortgage? Are you paying utilities? HOA? What are other two bedroom two bath condo's going for in your area? $1k a month for that condo sounds cheap.

I agree with Patricia but here's what I'll tell you from my experience.  Carpet will help the house feel warmer in the winter.  It also is quieter when people are walking around.  This is good if you have a multi-level unit.  The problem with carpet is it stains.  Yes you can buy stain guard carpeting which costs a lot more but to keep the warranty you have to have them professionally cleaned once a year.  In our rental we installed carpeting in the bedrooms and the stairs to the bedroom and we installed the new waterproof laminate hardwoods in all the common areas.  They look beautiful!  The new "hardwoods" are getting better and better every year and come with a great warranty.

@Jaden Adams if you have droughts I’ve seen a couple kids go to community colleges and see if college is for you but do it for $5k instead of $25k per semester. These will be your foundational course and give you a feel for it.

@Jay Hinrichs I’m with you by drawing board I mean doing what you said. Go back and look at everything with a fine tooth comb. I also didn’t realize those terms MAY be negotiable. Thanks again!

@Jay Hinrichs WOW! I am so close to pulling the trigger on a bundle of 5 SFR's and was going to use a portfolio loan. I think I just threw up in my mouth reading this post!

HUGE THANK YOU for posting.  Back to the drawing board!

Sounds like you have two choices: 1) Since they need all that work you could sell them or 2) You refi and fix them.  Based on what you said you can increase the rents and from what I can tell the increase in rent would cover the increase in costs.  Since it sounds like you want to continue to own these properties I don't see why you wouldn't spend the money.  This comes from a guy who grew up in Dodgeville (and parents still live there)!!

Good luck!

Are there state limitations?

It's all fun and games until that sweet pitbull next door is turning your leg/arm/face into hamburger.  All the local laws go out the window.  Those are for law abiding people.  When was the last time you heard about a law abiding pitbull??