
13 March 2020 | 7 replies
When the time comes, dispose of the stuff, either through a local trash pickup or a dump run with your utility trailer.The main thing is to assert your possession of the house as quickly as possible and come through for the next of kin.

28 April 2020 | 11 replies
I purchased a 28 unit 10% cap at $30k a door though needed heavier Reno to bring it to $47k door renting around $640 incl utitlies.Be aware of cost of insurance and common water bills.Looking at an 18 unit deal in b/c neighborhood now which is closer to $65k/door targeting $800 /mo

13 October 2018 | 0 replies
Probably something simple I am missing or the deal just doesn't make sense.3 condos, the owner has 14 out possible 48 in this complex and if the deal goes through may lead to more deals with her.the condos are 1/1, 2/1 and 2/2, she is asking 76k for the 2 2/1s and 64k for the one bedroom. total 216k, she would hold a second position note for 30k with me putting down the remainder of the 20% down (13,200) and pay closing costs. she would like 6 payments, one each year of 5200 for 6 years which comes out to 31200 total, about 1.5% interest rate if my calculations are correct.For simplicity, I am counting the 3 as a triplex, so rental income is 2325/month, tenants pay for electric and gas, HOA of 185(555) per pays for water, sewer and garbage as well as exterior and common area maintenance, snow removal, grass cutting, etc. taxes are 266 and insurance is 50 month (HO-6) policy which I hadn't heard of before.

14 October 2018 | 11 replies
Gave me practical experience finding deals (and the tools & techniques involved), working with realtors, lawyers and banks, appraisals, inspections, insurance, property taxes, utilities, closings, HUD statements, etc.Owning a home gave me more practical experience in basic to moderate home repair, dealing with contractors for more complicated issues, capital improvements, insurance claims, "neighbor relations", and many more important aspects involved with owning property.But in addition to buying and owning my own home, I'll say what was equally important to giving me confidence to get started was having a few friends who were already doing what I wanted to do.
13 October 2018 | 1 reply
2) Are there already utilities at the street?
14 October 2018 | 9 replies
In your post you lay out some of the common things that lead to low returns when converting a primary residence into a rental.

14 October 2018 | 9 replies
(opinion bonus) Is it worth the extra $2,000-2500 to hire two attorneys in two states to set up these LLCs/OAs versus utilizing some services I see where it can be set up for about $200 each if you add in EIN/OA work and maybe $125/year for registered agent in that state?

17 October 2018 | 23 replies
But it's very common in a commercial lease for the landlord to get a percentage of the business' profit, so you wouldn't stand out.
16 October 2018 | 5 replies
Account Closed, How we do ours is we have the renter fill out the paperwork as a normal lease, which includes everything a basic tenant would pay for that property (i.e. utilities, and any associated maintenance, first month rent, security deposit, etc.) if they were renting from us.

13 October 2018 | 0 replies
I've been looking into sub-metering a SFH home with a mother-in-law suite and experiencing difficulties regarding zoning and the utilities companies.