All Forum Posts by: Ryan Moore

I own 1 multifamily property that I purchased/financed on my own.  I'm currently in the process of saving up to purchase another similar property (which has been a slow process so far).  I've thought about getting that next property sooner by partnering, but I'm not 100% sure why I would want to do that.  What is the benefit of partnering to purchase a buy-n-hold vs going at it alone?  

Sure I will need to contribute less money in a partnership then I would on my own, but the wealth building benefits are also diluted.  So while my snowball that I'm building gets a little bigger owning 50% of a property vs sitting on the sidelines, if I save up to do it on my own, that snowball gets a much bigger boost.

 Even when they do come through and mail you that check for the broken appliance that you need to to replace ASAP, don't expect funds for at least a month

having a home warranty on my own personal residence equals multiple calls for each thing, lots of time and arguments, etc..... wouldn't even consider that for my rental.... and i dropped them from my own home for said reasons

Makes sense, thanks for the input.  I currently own 4 units that each have their own hookups.  I'm going back and forth over whether to place W/D units in them.  They rent out just fine without them and I'd love to not have the headache of another appliance, so I'm just thinking of ways that offset the cost, besides the obvious rent increase.

I've heard of coin-operated laundry facilities in multifamilies.... but I've always assumed the washer/dryer is located in a common area. Does anyone actually place coin-operated appliances within each unit?

@Zana Blue Snarks need not apply ;-)  I'm more interested in ideas like you provided.  Thank you.  Why did you give up on laminate as a cheap, somewhat durable option?

What are some good tenant-proofing upgrades that I can make before renting out a unit in my MF? I already plan to evaluate the carpet that's in there and check to make sure things like the doors have stoppers to prevent wall/door damage.

Thank you for the replies.  I'll admit that I had the inspection report before purchasing the property last year, but then I did nothing with it, except for getting some money towards closing because of the known roof issue.  This was my first purchase and I learned a lot from it, but then I put things on auto-pilot for the rest of the year.  Seeing now how fixes (some little, some big) add up, I need to take a more proactive approach to these measures.

Hi, I’ve owned a 4-plex in Phoenix for almost a year now.The building had deferred maintenance issues that are hopefully being weeded out and corrected as we go along.How do I as the owner setup the building for success from a maintenance standpoint? I use a solid property manager who has found quality tenants.  However, I can’t help but feel like I’m just putting band aids on maintenance issues as they arise (example: had AC repair guy come out probably 4-5 times for 1 unit this past year, each time fixing another part of the system that may have been leaking, etc).  Should I be having scheduled inspections of certain items on the property (AC, plumbing, roof, etc.)?

@Account Closed oh, well then that answers that, thanks