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17 January 2025 | 5 replies
Absolutely, the passive income from owning rentals is great but I also love getting into big projects and seeing the transformation from start to finish@David Jesperson What city/market are you looking to buy and what type of properties are you looking for, SF, 2-4 MF, or 5+ MF?
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17 January 2025 | 21 replies
Akron is a very blue city and are not very landlord friendly - source of income protections, etc...
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20 January 2025 | 19 replies
If they pass all of the checks and have the proper income then they have a shot at moving in.
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16 January 2025 | 3 replies
This is how I see it:Single-Family Homes:Pros:Larger pool of potential tenants (families).Simpler management (one tenant, one lease).Often easier to finance.May appreciate faster in some markets.Cons:Only one income stream.Vacancy hits harder financially.Duplexes:Pros:Two potential income streams.Live in one unit and rent the other (house hacking!)
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20 January 2025 | 14 replies
Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.
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21 January 2025 | 4 replies
Check credit, income, and rental history.
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19 January 2025 | 4 replies
I would spend a few bucks on nice ads in local magazines and/or do flyers in areas that are higher income.
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13 January 2025 | 6 replies
(Especially a 2-4 unit.)Do they have friends/relatives/co-workers that would rent rooms from them if they bought a property to show more income?
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15 January 2025 | 3 replies
The northwest suburbs of Akron are the higher income areas.
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8 January 2025 | 5 replies
For the first few years, I would focus more on the experience you gain than the money you earn.