All Forum Posts by: Paul S.

@Ryan Billingsley  I rent to dog owners, I require a pet deposit and a pet fee. I know many people say no way to pets but I have found people who are willing to pay the extra $ for having pets usually take care of things the same as non pet owners.

Good luck Brandon, hope we can see some guidelines of what you are presenting.

@Owen Dashner  Happy Birthday!

@Rhonda Wilson  I would consider the age of the house then figure probably the roof was replaced every 20 years you can also search for permits but  do what @Steve Olafson said and have a roofer look at it and estimate, that is probably the easiest way to get an idea. 

@Oliver Martin I would shoot for the fourplex. Many here will tell you to stay away from the condo idea since it may be more hassle than it is worth. With a condo you have an HOA which may limit the number of non-owner occupied units, basically they may only allow a certain percentage to be rentals. Additionally with the condo you will have some fees that could erode any potential cashflow. many people feel that you get the most bang for your buck with the multifamily homes, not to mention you can get 4 houses with one loan. (theoretically) I like the idea of the HELOC but if you can secure another loan with a decent interest rate then I would go that route.

Good luck

@Adam Worth  it may also depend on the location. In my NC home there are no gas lines running in the neighborhood, so if someone wanted gas they would need a big tank in the yard and then have to have that tank filled from time to time. In my FL home it was plumbed for gas so I have the option of gas or electric appliances. It came with an electric stove so that is what I kept in it. The water heater is gas so that house always has a gas bill, even if I use no gas I still pay a "customer fee" of around $10-15 a month just to have the service. 

I agree with the other posters that gas is much nicer to cook with.

@Bryan Chambers

Welcome to BP!

Check out the Start Here page http://www.biggerpockets.com/starthere

I am also a huge fan of the BiggerPockets Podcast I listen to them (and re-listen) on the way to work.

Best of Luck

Paul

@Verna Mason

Welcome to BP!

I am a huge fan of the BiggerPockets Podcast I listen to them (and re-listen) on the way to work. I am considering becoming a Real Estate Agent; why was this not the right path for you?

Best of Luck

Paul

@Toshia T. 

Welcome to BP!

Check out the Start Here page http://www.biggerpockets.com/starthere

I am also a huge fan of the BiggerPockets Podcast I listen to them (and re-listen) on the way to work.

I would interview a few different property managers and get their feel for what you think it may rent for. Also keep checking the local comps and see what other similar units go for.

Best of Luck

Paul

@Noel R. 

Welcome to BP!

Check out the Start Here page http://www.biggerpockets.com/starthere

I am also a huge fan of the BiggerPockets Podcast I listen to them (and re-listen) on the way to work.

Best of Luck 

Paul