All Forum Posts by: Bart Ross

Update: We canceled our contract with the seller because the leases did not reflect the rents advertised. I supposed it was a win-win since we were struggling to close do to timing.

@John Thedford not yet, because I am still working to identify options. I may be able to assign it to a friend who is also an investor as well as possibly being able to move some of the other projects and keep it for myself. I just wanted to see if the community had any other creative ideas besides just letting it go. 

I currently have a property under contract, but due to other projects I am unable to close.

It is a wood frame house with a garage apartment out back. It is located at 921 E. Orange St, Lakeland, FL 33803. The house is rented for $900 and the apartment for $500. The listing price is $125,000, but my contract is for less than that.

I appreciate any ideas or guidance in advance. 

Thanks @Roberto Gutierrez for the guidance and the suggested report. I appreciate. 

Happy Holidays Bigger Pocket Members,

First, I am pretty new to real estate game. I have purchased 3 properties and currently have 5 doors but looking to get to 20 doors in the next 18 months. I have tried to follow the rule of thumbs from BP (1% rule, $100 per door, 50% expenses, etc.) Unfortunately, I just can't seem to find deals that are hitting those based on the 50% expenses with PM in there. 

So here is where my question comes in. For those with greater experience what range are your typical expenses running in 35, 40, 45, 50 or more. I know it varies based on location and financing, but I am just looking to gather others experience.

Thanks so much in advance,

bart

@Zach Welner curious if this property is still available and the address in Mulberry. I am a grad from there. 

Thanks everyone for the real world advice. That is exactly what I needed.

So I am about to close on my first duplex. During my home inspection one of the water heaters showed it is 19 years old, the other is 2. So I know I am going to have to replace it in the near future. 

The question is this. When replacing a water heater has anyone ever used tankless water heaters vs the traditional tank water heater? What are the pros and cons in a rental unit?

@Murphy is this property still on the market. 

Is this property still available.