All Forum Posts by: Sean Lambert

run the numbers and see if it will cash flow, or what you need the price to be that'll help you determine what you want to pay.  You can use comparable sales (most counties have them online) and should tell you the sales history of the duplex.

congrats on the 10plex!  

I use an insurance broker who shops around for me at various different insurance companies.  I'm not sure if that's the best option or not, but that's why I do.  You might also see if there is a local agent with State Farm, we have had good success with them on a cabin we have.  Maybe also ask the seller who they currently use?

One benefit of a small multi is that unless everyone moves out at once, you'll have some income during vacancies from the other occupied units.

We purchased our vacation cabin as a family get away and also a project to add sweat equity to it over the years.  When we go to the cabin, it's a work vacation.  

The rents just help lesson the monthly cost.  It's split up between four parties within the family, so on an individual basis it's not much to maintain/support.

Our market is pretty hot right now and haven't had to advertise for a few years.  Facebook has some groups for different areas, maybe there is a group for your area?  It's good to help with comps as well.  I've used Craigslist and will use Zillow on the next vacancy.  

If you work for a company, you can touch base with HR and let them know you have a house available to rent for new hires.

Word of mouth is always good.  If you have other great tenants already, let them know about the new place and offer a $100 finder's fee.  Good luck!