All Forum Posts by: William Dalton

Hi Timmery !
I specialize in mini splits, and tricky ductwork.  I've been doing HVAC for over 15 yrs . I have multiple apartments around rochester .
I am currently splitting apartments on Oxford Street into mini splits and a furnace . I could get you a price and a clear break down of what is possible with your 2 units. Let me know if you'd like me to take a look.
329-4459. 

Not taking action as quickly as possible in just about all situations!  ...and not having reserves!!

So my first few years and few houses,  everything was perfect,  i mean everything. Nothing went wrong,  it all seemed too easy!   And then....everything went wrong all the "(un)Expected" things.  Pretty much what everyone has already said here, and other places, and on the podcasts. I've had all the things and people go bad. I've learned from the mistakes, I'm working with better people. I'm playing it safer.  I would strongly advise to play it safe (smart).  I went in aggressive, and maybe a little to loose.  Yagotta hold onto those reins tight!!  

You don't know...until you do!!!

Oz, I found a local CPA who also has rentals,  I turn everything over to him.  It's a nice simple process.  Things are great. 

 @matthewdrouin does commercial , i've worked with him on the residential side of things and had a great experience working with him on several rentals. He's definitely in tune with the local market.  And I know he does a good amount of commercial.

@Monica Chan You won't make side money , but you will gain a headache. What can u buy a coin op laundry setup for? Around me its $1k. Or I can just buy a cheap combo for $300 and have happy tenants. But it's based of your area, and I'd say I have property's in the nicer areas of town. So the added expense to me is worth having happy tenants that want to stay where they are.

@Ed Blackshear Just went to your site, it says u have no properties available .

Agreed Jay. 

I will be hiring a property management company but will still be  hands on.  And yes it's in my home town.  I've worked the numbers allowing for property management. 

the city is redeveloping 3 streets down a bunch of condos and town houses will be finished this summer. A couple of the business are redeveloping there store fronts.  so theres a little bit of progress close by. 

And they tore down a lot of zombie property in the neighborhood.  I've helped a friend out with a 4 family in a bit nicer part of the ghetto, and i can see the potential with the cash flow.  I just know i don't have the experience with lower end places.  But finding people who get housing assistance seems like it can really pay well and consistently.  I know the right tenant is key, and this being my 6th house I am completely fine and financially safe on sitting for an extra month to get the right person in there. and not just fill the spot.  Am I ok in that thought process??

the sales price will be 65k but im getting the roof included in the mortgage which is all from a private lender. 

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@Scott Long

Dude just buy a house man.  U are past the point of being on the verge of analysis paralysis. (Your there) If u want to be an investor, Go buy something. Make a move.  U dont need a lawyer u dont need a cpa u dont an llc u don't need a separate bank account u don't need some planned out time line. U just need to look at something and offer and buy.  All Cash or 100% leveraged who cares, as long as u can close on time.  If your out of state I'd buy something in a better neighborhood if u have to worry about being one street here or there to make it a bad place.  Avoid the whole area.   

That being said, I have a lawyer I have a CPA I have an llc I have an agent  i have a seperste bank account....but i bought a few propertirs first. 

Just go buy something that u think might work!  Figure it out as u go. 

It's easy. 

Good luck mate! Cheers!!!