All Forum Posts by: Stephen Foltin

I am looking to rent my condo out within the next 6 months or so, do I need to get an LLC before I do this?

Couldn't make this one, but I intend to be back for the next one!

Thank you for the advice, I think I am going to stick to a single family house and rent my condo out in hopes of appreciation.

Hello Enzo, 

I seem to be in a simlar position as you, I want to find a duplex to move into for a year and then move out and rent both. I am looking to learn more about the numbers and figuring out how, where, and at what a good deal is. 

On a side note, I have some mutual friends that swam with you at Queens; Marko and Ben....

Hello BP community, My current situation is, I own a condo in a popular area in South Charlotte NC, my mortgage is $900/month, HoA $200, and rents for similar condo's are going for $1300-$1400. We have no debt and about $10k saved up. My fiancé and I are looking to buy a SFH or preferable a duplex in or around the south charlotte area and rent our condo out. Looking to BRRRR our new place so I want to buy a livable fixer-upper, stay for a yearish, then continue. My question is, what tools should I use to run numbers on a house, or duplex? Since I will eventually want to rent our future house out, how do I know where a good area is to buy that will be good to rent? Duplex's are around from $500k-ish in Charlotte areas we would like to live. Can you still find a deal? How do you find or know a deal is worth it? Do you think it will be worth it in long run to buy a duplex for say $500k if mortgage is $2,500/month, and rent is $1,500/side (so after one year when I move out and rent other side it would be cash flow positive). Also, can you get a mortgage on a duplex for around 5% down if you plan on living in one side of it? If so where? Anyone use a wholesaler on their first deal? Any input or tips are appreciated.

@Chris T.

Hello all,

I will be attending tonight, newbie looking to network and talk about how to find a property and how to manage a rental for first time.

@Chris T. Thanks for the tips! I will follow look for the meet ups!

@Patrick Menefee awesome, I will definitely try to make the next one. I am looking for duplex but I know they are hard to find. If not duplex single family home.

@Anthoney Hanks I will check it out, appreciate the tip!

@Marco Thanks!!!