All Forum Posts by: Stephan Guna

Excited to say that I am in the process of closing on a house. Been looking for my first investment property for the last couple of months. Finally found a duplex I actually fits my parameters and seems like a good deal. My main question is concerning the rents.
While I love the house, one concern I see is that it only contains a single furnace and water heater for a duplex, so it was converted. However, previous seller let me know that prior to buying there were two tenants living in the house in which the utility bills were added directly to the rent.

I ran my numbers and I am earning about $208 monthly cash flow with CoC ROI of 7%, which I am ok with. My main question is what should my rents be if I possibly want to increase this cash flow. I assumed around $900 for larger unit.

House square footage(1800),

1 Tennat(living upstairs)(600 sf)(Rent:700)

Downstairs(No tennats)(1200 sf)

I assumed around $254 per month for utilities for the whole house(Akron, OH)

Quick question guys is it possible to run background checks on tenets who are already living on a property. Going along with this question how much does it really cost and should I just reach out to my realtor to get this process started?

I recently visited a house marketed as a multi-family house going for a pretty good, price. I overall love the quality and everything with the house, it needs a bit of work, but nothing out of my range. All the houses I have visited so far all have 2 water heaters and 2 furnaces for each unit. However, this one only had 1 water heater and 1 furnace with the house. How would this work out? If I wanted to still rent out to both units, one unit is already occupied, but would that not lead to concerns of one person controlling the heat etc. I would prefer the tenets take care of heat/water, but I don't know even how this would be possible. 

 I’ve heard Cleveland vacancy rates are much lower than Akron, is this not true? 

Anybody familiar with the Akron market at the moment, I know most people in Ohio tend to go with Cleveland because the low listing prices and low vacancy rates, but how does it compare with Akron, Ohio

Hey guys simple question here, first time investing in a property.
I feel like I have done a good amount of research and I am finally ready to put my feet in. I am currently at the stage of looking at houses(duplexs) to start renting out. 

While there are surplus of information on starting out  and finding deals(YouTube)(Courses), it was somewhat difficult on finding information on starting out as a landlord. Things such as writing lease agreements, general rules to follow, security deposits, evaluating leases, etc. Do you guy's know of any good video's/other sources where I could learn about these various processes

So quick questions guys I have somewhat of a situation in which I would like some advice. So just some notes this would be my first investment property. I been looking at houses for awhile now and recently found this duplex(multi-family) nearby which I liked a lot and seems like a solid investment opportunity. However, I learned that there are currently two tenants living there who are paying $650 a month each, which in this area is pretty low. If I kept these rents, I would barely break-even. 

Also, I noticed the lease is only month-month, so do you guys think it would be a good plan to buy the house and then increase rents as soon as I am able to. I plan to increase to $850-900 each to make some profit. Also, what are some contingencies if go with this particular plan(How fast am I able to implement after closing? Etc?

 Sure send me a DM with information,Thanks!

 Hmm Yeah I would have to look that up actually. I have heard of 20% on multi-family houses, but when I reached out to my loan office, they said only 25% was available. Thanks for the answers.