Joseph Schommer
Rent raise feedback please
Hi BP Community.I bought a 4-plex last year in which the rents are VERY under market AND I'm paying heat and hot water in Vermont. The residents of this house have been here for 3 years, 8 years, 12 years and 25 year...
Quiana Chandrasekar
Having a general contractor during walk through
As I'm readying myself to purchase my first property this year, I'd like to know if it is common and highly recommended to have a general contractor to accompany me during a walk through of a property of interest to h...
Bienes Raices
How to negotiate with bank for mold you can't see?
My offer was accepted on an REO, and there was a strong smell in the house before--then the bank repainted the interior, probably to cover up the smell. I'm pretty sure it was mold, although the only visible mold I sa...
Mike D.
Techniques to report Capital Improvements as Repairs
I will be closing on a 4 plex apartment building this month. Each unit in the building needs new windows and could use some updates to the kitchen and needs new carpet. IRS rules require that repairs, when done as par...
Heidi Kenefick
Odd situation- water leak casued damage to neighboring unit
A unit I own out of state, which is vacant at the moment, had a leak. I wasn’t initially able to reach the PM, but eventually did and they went out and dried up the water. There was no damage to my unit so I did not f...
N/A N/A
Is this an OK first deal?
I found a house in the Youngstown, OH area - one of the better parts of town for $9k. The home needs about $10k in work and the comps in the neighborhood range from $33,300 to $64,900.
If I pay cash for the home and ...
Nnabuenyi Anigbogu
Need some advice and opinions on the Chicago Multifamily Deal
Hello everyone,I wanted to get a little opinion on a deal that i could be closing on next month. It is a owner occupied multifamily but i will be moving out after a year and converting it to a full investment property...
Tanner Sherman
Section 8 - Killing the Stigma
Hello BP,I just had to share my recent experience with Section 8 rentals, and I couldn't be more thrilled. Initially, like many others, I harbored misconceptions about this program only hearing the negative connotatio...
Jason Schmidt
who here is making a living off of rentals?
Please tell me how you are doing it!
I am struggling to see how this can be done with less than 20 pieces of property that have a positive cashflow of $200/mo each. That would put someone at $4,000 a month which cou...
PJ Singh
Mold issue in bathroom shower
Hi Y'all. Please provide guidance!Background: I have a SFH rental in Houston suburbs (cypress area) which I have rented to same tenant for past 5 years. Tenant don't want to renew lease until potential mold problem is...