All Forum Posts by: Ryan Mertens

@Zayne Ruth

Depends on your flip, construction experience. If that’s limited then your safest bet now is to buy a duplex or triplex that is in disrepair that you can put sweat equity into.

I can’t speak for your skill set or risk tolerance but if you’re just starting out with investing and have limited flip experienced you’re safer bet is to go multi family.

@Zayne Ruth

Since you are starting this investment journey the name of the game is to keep your DTI as low as possible.

You’re going to want to put down the least amount as possible right now to keep cash on hand for future projects.

Don’t forget if you’re shopping multi family in your price range you can use the rent for one of the rental units to help you qualify, typically 75% of what the lease states.

@Zayne Ruth

What kind of $$ do you have right now and what’s the first purchase goal number?

@Oscar Moreno 20% on all goods and receipts that go through contractor.

@Tim L.

You haven’t shared any water sewer trash numbers with us or if you are including those in your projected rent flow. If your numbers are super tight or close to being positive back charging those actual costs to your tenant may flip you on the positive side.

I’ve started to recently do that with my properties in Salt Lake City and im Expecting it to make a tremendous difference on the balance books at the end of the year. For example one of my cheaper units is it 1500 a month per side . Back charging that Equates to over $100 total. That’s an additional $1200 a year on the $36,000 revenue stream. That’s a significant amount of money when you start doing that with more than one property.

@Thuy Pham-Satrappe

Jeramiah Maughn services that area I believe. He’s a member of this community as well, search for him and do a colleague request

@Kaden Cole

Which country are you in?

@Chris Purcell

They deal was made after they moved in and was added as an addendum to their rental contract.

Of course its e on a case by case basis but these are the best Renters I ever had and I made that call based off of rent paid on time and ease of communication.

Home Depot cc. While it’s not the best deal on  windows you can certainly buy them from the depot and any purchase over $1000 Theyll give you 12 months to pay it off, 24 months if you actually call customer service and request it.

Anytime you meet with an inspector it’s yes sir no sir? Once they smell blood they are sharks in the water.

 Windows Are the absolute last thing you should ever do. Your tenets are paying the utilities so efficiency is not your main concern. If some of the panes are broken then just get them reglazed and don’t replace the entire window.

Also sounds like in your situation you should be cutting the grass as well.

 I do. I bought an extremely nice Kenmore set. I charge my tenants an additional $40 per month to use them. Bought them  on my Sears card at 0% and will be paid off in three years