All Forum Posts by: Wayne Helms

I live in Chester County but have started to look in Bucks

Hi All,

We just settled on a 10 unit building on Friday. No debt, cash flowing immediately. We keep reading, listening and attempting to uncover how to make the brrr method work but it just doesn't seem reasonable. We have some improvements to make in the coming weeks. We plan to rehab a few apartments and upgrade them and want to pull the money out for an additional apartment building. It just seems that after taking the equity and then acquiring a mortgage payment, there wont be much left as far as profit. we will be managing, rehabbing, and assuming this job without profits. And after acquiring the 2nd building, how in the world can you pull equity to keep growing due to debt to income ratio requirements. What are we missing? How does anyone actually make this work? We appreciate any assistance. Also, we aren't new to this, but haven't done too much buy and hold or real estate deals this size. Thank you

I am closing my 1st apartment building this Friday. It is 8 residential units and 2 store fronts. We have an in house maintenance man.

What systems do you use for maintenance requests?

1. residents has an issue

2. What form is used. Do they have to get a request form from the maintenance man for each issue each time? 
Do we give them a stack of requests per apartment?

3. Do we have a phone conversation with the maintenance man for each job before he starts? We want to ensure quality work and payment is fair.  

4. How do we close out the job? 

Thanks in advanced 

I am under contract on a property that has to apartments on the same meter.

The current ownership pays.

Can I separately measure use and bill them for it?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Please don't feel the need to go into great detail. Just need to narrow it down a bit. 

1. Do your back ground checks and sreening

2. Have a solid lease

3. Put in the lease that you have a mandatory walk through each month

4. Take it in 6 month payments (Use the extra lump sum for another investment) 

Just wanted to see if anyone had any investing experiences there?

I see most of the posts here are a year old. Has anything changed in the area? I just moved closer (about 45 minutes away.) Any Areas I should focus on? Thanks!