All Forum Posts by: Ryan Fox

Congrats!  I've never heard of a property essentially meeting the "3 percent rule."

@William Robison - Are you noticing any difference in vacancy in smaller units (i.e., studio to 2 br) versus larger units (3 br and larger)?

It's hard to come by unbiased data on this, but does anyone have any access to data showing rental vacancy rates in MO, per county?  I know there's been growth of housing supply in the KC area.  There's also a lot of units on the market for rent now, seemingly more than prior years, even considering it's the middle of winter.  Year over year comparisons would be helpful.  

It's hard to come by unbiased data on this, but does anyone have any access to data showing rental vacancy rates in MO, per county?  I know there's been growth of housing supply in the KC area.  There's also a lot of units on the market for rent now, seemingly more than prior years, even considering it's the middle of winter.  Year over year comparisons would be helpful.  

@Sam Yi- Biggerpockets will close your account if you don't follow their terms of use policy.  

Congratulations!

@Aliz Raksi - Sounds like a good deal.  Are you going to take out a long-term mortgage on the property or get a home equity line?  A home equity line might allow you to cover costs as they come up and still cash flow.

I recently bailed on purchasing a 4-plex I was going to rent out.  The ages of the furnaces were as follows: 25+ years, 17 years, 17 years, and 19 years.  Apparently, the coil had been replaced in 3 of them.  Each furnace still worked.  Is replacing the coil a viable option to extend the life of a furnace? 

@Joe Yobaccio - You might consider Hanford, CA.  I've heard a lot of people are moving there because it's less expensive than other parts.  

Be careful with tenant quality in San Bern and Hemet - there can be some rough neighborhoods in those areas

@David Cornett I bought the first one using my own lender.  The second one with was their recommended lender.  The closing costs on the second one were slighly lower than the first because I initially purchased the second one using cash from my home equity line.  Then, I got a cash-out mortgage on the second one to pay off the home equity line.