All Forum Posts by: Stetson T. Stallworth

Hello all!

I own a small fourplex near Downtown Las Vegas. The four units are separated into two buildings and are both on the same parcel of land.

The county assessed the property as being 'two duplexes' that are separately metered and have separate addresses.

I've heard of some folks in my area being able to sell their similar properties separately - selling one building (two units) in one transaction and the other in another transaction.

How do I know if this is an option for me?

Thank you all in advance!

:)

Hello #BPFamily!

I'm considering buying a coin-operated washer & dryer for our newly acquired fourplex. I have no experience with this, so my question for all you more experienced landlords is this...

1) We only have four units... Will it be worth it? The goal is to offset our water bill each month.

2) Are used machines usually reputable? Or should we just bite the bullet and buy new?

3) Are there any brands that you all have had good/bad experiences with?

Thank you all in advance! Y'all are awesome!

Thank you, @Denver McClure!

In our position, it's probably not something we can explore right now. But you definitely learned me something! And if it ever seems like the right move, you bet I'm calling Denver from Dallas!

Thank you again!

Wow @Bob E. THANK YOU!

First of all, BIG Dave Ramsey guy here (I think he gets a bad wrap in our world), so thank you for reminding me of his debt snowball.

Second, these are all awesome! In our situation, it seems like the most realistic options to explore first are #'s 1 and 4. Great ideas and simple concepts that still don't leave us over-leveraged.

Thank you!!!

 These are great! Thank you, sir!

You're right - the seller will have to be fairly motivated for these to work which, unfortunately, is going to be hard to come by in today's market. But no doubt we'll keep these in our back pocket.

 Oh, you've got that right! Vegas never ceases to amaze!

We actually work with a non-profit in town that provides transitional housing, career services, financial counseling, etc. Tenants will definitely be hard on the properties, but we're doing everything we can to mitigate the damage (high reserves, double deposit, etc.).

Thank you, sir!

You're absolutely right. We're considering bringing on another silent partner but will definitely have to find 'home run deals' for it to work.

But why not!?!

Thank you!

Hello all!

I just purchased my first fourplex and I've learned a TON! We've set up an awesome little pipeline where we already want to go get a second!

THE ONLY PROBLEM...

My partner and I just don't have the capital to fork out another 25% for a down payment. Do you all know of any lenders, loopholes, or programs that can keep us in the 10% down range?

If it helps, our niche is affordable housing, so maybe there's a play there?

Regardless, thank you all in advance for your help!

- Stetson T. Stallworth

Nathan,

WOW! This list is amazing! Thank you!

I'll use these to start my process and run with it from there. You helped more than you know!

Thank you much,

Stetson T. Stallworth

Hello Team!

I'm in closing on my first MF property and am ready to hire a property manager. I figured it'd be best to interview a few, but there's only one problem...

I DON'T KNOW WHAT TO ASK THEM!

When interviewing potential property managers, what are the most important/forgotten questions to ask them? Ideally, this person/company would be with us on future properties as well.

Thank you, all!