All Forum Posts by: Bill Goodland

@Tyler Zanini I would remodel it while you still live there because you’re not going to want to do it once you move out. Some simple updates like painting the cabinets, flooring and fixtures could go a long way to boost the value of your place

@Ronnie Allison the BP podcasts are honestly better than most of the dozens of REI books I've read. I would read one more REI book like Millionaire Real Estate Investor focus on personal development with Rich Dad Poor Dad, Atomic Habits, Richest Man in Babylon, and The Go-Giver.

I would just schedule in person walk throughs for as soon as she moves out. Maybe offer her a few bucks or a guarantee of her security deposit back in full no matter what damage there is if she's out sooner than the lease says. I was able to fill units with video walk through and showings in masks. Gloves are pointless btw..

@Darshil Parikh sounds like a very thin deal to me...especially given the high price point and potential for decrease in values in the near future

@Dale Miller agreed, the reason I got such a good deal on my househack is because there was low rents and nobody bothered to look at the place to realize it had a ton of potential inside

@Tim Kaminski I don’t do either, but from my experience and what I’ve heard, I would recommend doing rent by the room in an expensive market and rent to section 8 in a less expensive market to optimize rental income potential

@David White in that case, cash is king for reserves, rehab and future purchases. I like leverage because it gives options. Leverage doesn’t necessarily have to be a bad thing as long as you’re well capitalized

@David White sounds like this might be a househack considering you can get 5% down financing. If that is the case, I would go for more cash flow and leave more cash in reserves to protect from leverage

@Nicholas Bourque it’s a trap

@Jenny Sung doesn’t sound like a bad deal all, but are you sure you’re not inheriting a problem tenant? And why not push harder to have the seller complete those things prior to closing?