All Forum Posts by: Zach Gring

Anybody go to sign up for cozy then get redirected to apartments.com only to find out when you hit sign up it automatically assumes you want to publish a unit for rent? I’m trying to access/set up the property management software side of it not list any units currently.

Suggestions?

Other software?

@Ian Walsh

I’m glad you brought up the cash purchase, why would one want to do a cash purchase? I use to think it would be great to acquire 8-15 sfr pay them off or buy them cash and then live off the net but after diving deeper into rei I’ve come to realize your coc roi would be fairly crappy with an all cash purchase. What am I missing about the added benefits if I am missing something? Less risk? Couldn’t it be considered more risky to have all your own money tied up in that house?

Choosing to ask you because you mentioned it and it’s been a question in my mind.

@April DePombo

I know this wasn’t directed at me but about the finding a property manager out of state and what to ask. (I just went under contract on my first official investment property) is find a rock star of a property manager/who also invests in the area but, don’t start the relationship saying you want to work with them. Try to find a resource that has no financial benefits to leading you into a less than great deal. They can introduce you to other rockstar team members.

@Ryan Guffey

Check out landlording on autopilot by mike butler. Very meaty book I’ve listened to it now 3 times. Just went under contract on first official investment property. You can do it.

@Joe Villeneuve

Are appraisals done differently everywhere?

@Joe Villeneuve

Oh, I didn’t even consider this. Interesting, makes sense though because then tenant is paying for it with mortgage and it’s not my money. Makes total sense. I like that.

@Joe Villeneuve

Thank you for the insight Joe, I went to one right before covid. Just never been much of a zoom/Skype person so I never jumped on the digital ones during covid.

I’ll have to figure out what my best roi would be on that basement in the future then.

@Marcus Auerbach @Joe Villeneuve

I understand what you guys are saying now. The roi doesn’t make sense on it from a rental increase perspective.

So let me ask you this would it make sense if I could finish the basement, increase arv then pull out some money on refi, making the money I have invested in that basement be less, therefor off setting the roi as well?

@Joe Villeneuve

Thanks Joe, I did run rental comps and had realtor run it on his end as well for a 4/2 and 3/2.

Any input on just finishing those areas off for an office and living space instead of necessarily a bedroom? I was under the impression for it to be usable space they’re has to be an egress window and a closet? Is this not correct?

I used the market next to it and the market it’s in for comps. It’s just the difference of B neighborhood to A neighborhood. Not a C/D to a B.

I like your realistic view point.

https://www.biggerpockets.com/...

asking price is 164,000 3/1 sfr buy and hold

on market he could probably get 175-185 without any struggle.

rent is currently 1700

it has potential to add a living space, bedroom, and bathroom in the basement bringing rents up to 1850-2300

Its on the boarder to the next town over and has an excellent school district.

Is 155k seller pays closing costs a solid offer? its off market I'm the only one looking at it.

thank you!