All Forum Posts by: Shane Welch

House Hacking almost always requires you to live in each property for a year. It is one of the most cost efficient methods as well and low startup cost. If you don't want to move you may have to wait till you build up enough equity to use the BRRRR tactic.

This is one duplex, I plan on adding another multifamily every year.   I think I will use Quicken for rentals it looks decent.  Or if anyone knows a decent program?

Currently only own a Duplex.

Hello, what is a good program to use for tracking Income and Expenses for tax purposes?
Also where can I set up an online payment method?

Would prefer lowest cost with a quality product.

Properties in this area are renting for $1k-1.5k on average.   This house is actually in decent condition and could easily get to 1k each side without any renovations.  I will be living in one side and the other tenant will be moving out in November.   

I checked for expenses, Currently the net income (after Morg,Ins,Tax, Prop Manager, CapEx,Water) I am left with $200 a month.  But as I stated I would be able to get it to $1k eventually. 

Hello,

I am starting my first adventure with a 1975 Duplex.  One story, mirrored 2 Bed 1 Bath Units.
This property is in Norfolk, Virginia and is being listed for $183,500.  Each side is currently being rented for $750.

What amount should my offer be for? ( I wanted to offer $160k)
Would renovations be a good ROI for both increasing home value and to raise rent?

Any general advice for me before going forward?

What's the chances of the bank taking a lowball offer like $200,000? would they rather just hold it forever losing money? 

Hello!  I am new to BP and Real Estate Investing in general.  I do not have much Liquid Capitol to invest on rehabs or down payments.  However I know of a property that might help, please give me your honest Opinion.

In my home town there is a house that has sat empty since I was a child (15 years so far).  It is still in *just built* condition and from the updated photos and history, not a single person has ever lived in there.  The city is a fairly "poor" place, but this house is on the one street that is home to the "Wealthy". 

The bank currently owns it, and it has been listed for sale for years.  Currently Zillow shows it $465k and earlier this year it was $410k. Do you think there is any way for the bank to take a low ball offer and I could flip it for a good profit? 

I know that the fact it hasn't sold is concerning, but what should I do?  I feel like it could be a good first flip and raise some capitol for future investments.