All Forum Posts by: Wally Klosner

@Neil G. I'm pretty new to this but NOI is pretty important. I live in MN so heating cost is huge. Recently looked at a strip motel/efficiency. Heating bill was something like $2-3k/mo. Killed the deal. It has potential for someone with value add capital. Just not right for me.

@Peter Nikic thanks for the response. This site is awesome. I'm going to take everybody's advise and combine it to come up with the solution.

@Marlen Weber thanks

@Michael Ealy thanks Soo much guys!!! This site and the helpful people on it are pretty sweet.

@Ronan Donnelly very helpful thank you very much.

@Erik Whiting thank you. What I'm scared of is insufficient cash reserve. I think you're right I need to do some soul searching and come up with a plan.

@Mike Cumbie thank you

@Peter Nikic also I think rent should increase the same for each tenant at the same time if each unit is the same. Owning multi family is like a small town, they talk to each other. Please feel free to give insight on my opinion.

@Erik Whiting $100 on $750 rent 13.5% increase. Like I said only one side is rented. It's an attractive place in a small town. I'm not afraid of finding renters. But on the same note if it sits too long it'll kill me as this is only my second property. My other being a 4plex in a college town.

@Peter Nikic this is just a duplex I'm dealing on. It's only my second property so I'm new.