Or offer to help them fix up a unit for free.Real Estate Agent Invests themselves Responsive Hungry Tech-savvy One-on-one supportTo find: ReferralsAfter you find 3: Sit down with each of them Lender(s) Start looking now and start building a relationship with a few Contractors and handymenHow to find: Ask for referrals Check references The 6:00 a.m. home depot trick Ask store employees Make them compete Bookkeeper Keeps you organized and get your taxes ready CPA Looks at the bigger picture Saves you money in taxes Ideally, someone who specializes in real estate Lawyer Helps you set up leases and other forms and prepare you for the best legal entity for holding the properties Help with evicting a tenant Advise on any sketchy situationHow to find: Ask for referrals Insurance agent Ideally a broker Property manager Cost around 11% of monthly rent Interview a couple to get the detailsCh. 5Analyzing a Rental PropertySunday,September 8, 20199:20PMCalculating IncomeTo determine rent, look at: location Number of beds and baths Amenities like ac, parking, and appliances SizeHow to determinethese: Constantly scan the local paper (daily and weekly) Check craigslist often Check the competition and property management companies’ websites Read “for rent” signs - call the phone and act as a tenant to gather info Talk to other landlords - look for REIA When your unit goes vacant, bump up the rent Too many applicants = price too low Check the MLS (multiple listings service)Estimating Rental ExpensesEasy to calculate: Mortgage — mortgage calculator Interest rates - ask a lender Insurance — call the insurance salesman for quote Water — call the local water department Tenant can pay Sewer — call local water of sewer department Tenant can pay Garbage — call rubbish company Tenant can pay Gas — call the gas company Tenant can pay Electricity — call electric company Tenant can pay HOA fees — call HOA president Snow removal — ask local landlords or snow removal company Tenant can pay Lawn care — ‘’ Tenant can pay Property management — Ask local managers in the area Usually around 10% of monthly rent and 50% of a first months rent (just call it 11% Incase they charge a fee) Even if you don’t want the manager now, you will eventually.

The building next to the coffee shop is for sale by owner, needs approximately $20,000 in repairs, has two store fronts (one rented, and potentially two) and one or two upstairs appts. 

Brandon,I will recommend going to some nearby local stores and dropping a flyer there as well, and do not forget craigslist. 3 weeks should be enough time to get some hits.

There are now very few HUD foreclosures and even less on the GNND program.HUD home store website is the place to find them.I would have him check with his HR department. 

None, it adds very little value to a rental or a flip and you don't need to incentivize people to store crap in the garage so why do it?

I don't really know the negative impacts on the property of growing it, but I would be concerned if he was using the property as his store front also. 

Taxes are killing it and Amazon is keeping store expansions down.

We have to give the tenant a 10 day notice, then store any items left for 30 days, unless the tenant instructs us differently.  

Rents/Leases in area: 1/1 - $1500-1800+, 2/2 - $2000-2500+Property Tax: $2200, Insurance: $2000Property Management: For now, would be me, but eventually would like to factor in Property Management feesRepairs: $20-30K (estimate)Area: good schools (8/10), walkable to grocery stores/restaurants, lots of development in area (MFU, new community of townhomes being built nearby)Cash flow calculator: Break even or slightly under (would make more sense if able to add 3rd unit)Buy and hold idea: renovate, maybe add another unit down the line, sell with big assumption property value continues to significantly rise in areaThank you for your input!

I own a business and have been leasing the same warehouse for over 10 years.