Rental Property Investor · State College, PA · Member since 2013 · 287 posts · 99 votes
12y
@Andre Q. Congrats on the property. It looks great. You mind sharing the numbers?
I started investing in 2012 and distinctly remember my first purchase (thought I was going to puke), then when it was rented (thought I had won the lottery) then after about 2 months of collecting rent, remember wanting to ride that rollercoaster again.
Baltimore, MD · Member since 2013 · 34 posts · 6 votes
12y
@ Liam Goble
Thanks Liam! The rent is $1,195 a month. I have a Property Management team that take 10%.. The house is paid for.. Taxes $1,640 a year.. Insurance $54 a month. I know that feeling (lottery). My goal is to move to the next one, because i love to turn nothing into something and that's what happen here..
@ Paul Timmins
Thanks Paul! I will.. I enjoyed making this house a home again..
because i love to turn nothing into something and that's what happen here..
C'mon man you can't tell us this and not give us the full story! Congrats on getting the first one under your belt but I wanna hear the details. We know it rented in a week...now tell us everything that happened before that ;)
Baltimore, MD · Member since 2013 · 34 posts · 6 votes
12y
@ Benjamin C.
Thanks Benjamin! The house is in norfolk,Va.. I inherited the property. I just had to bring it back to life. It's worth $150K.. It's good to see another person from B-More on this site.
Look below this Window, and you will see a list of names of people that have posted in this thread.
Click on the name of the person that you want notified via an email, that you responded to them.
If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.
Then look below this Window and click on that person's name.
Baltimore, MD · Member since 2013 · 34 posts · 6 votes
12y
@ Chris K
Thanks Chris! I will make this short for you.. Four years ago my aunt gave me a property as a gift. I let family live there and they took total advantage of me. Every month was a new story. When i came to my senses (3 years later) the house needed everything. Hvac system, Water heater, Fence, Flooring, Carpet cleaning, redoing bathrooms, painting and also cutting some trees in the yard. I had a contractor meet me there on the weekend to replace or fix the things i need help in (took four months). When i was ten my father had us working around the house so i was not afraid to get my hands dirty. I took the things in the property to goodwill.. It was a great experience and i'm looking to do it again and again.. I hope this help you out Chris. I feel like this is my calling.. I have a Property Management team dealing with it now so hopefully i get a better result..
Thanks Jack! I didn't think to take too many before pictures (Newbie stage), but I will make sure the next project have before and after pictures. I have some before pictures but they are in a old phone that i don't have anymore. Everything will be save to the computer next go around
We did some sheetrock work. I replace the main bathroom toilet and sink. I also replace the kitchen and bathroom floor tiles because of cracking and not being level right. The Kitchen sink had a leak on the strainer side but i went to youtube and the guy used plumer putty to seal it. I did the same and got the same result (I might be a plumer).. My contractor did a little electrical work with running some new wires outside from the fuse box. It look easy but I'm not ready for that yet. If it's something i can't do i will pay someone to get it done for me ( Contractor has 25 years of experience).. He also fix the hvac system and replace the water heater.. The house sit on a concrete slab and it don't have any structural issues right now.. The rest was to make the house beautiful again..
Real Estate Investor · Madison Heights, MI · Member since 2014 · 693 posts · 216 votes
12y
I like the fact of having a washer and dryer in the house. People love to see that.
Many times you see where they could go but no washer and dryer. I think that helps to keep renters longer when you supply them with washer/dryer/dishwasher
Real Estate Agent · Orlando, FL · Member since 2013 · 270 posts · 40 votes
12y
@Andre Q. love to see this, good work and wishing you the best of luck getting your next property under your belt ! I can't wait to get my first one under my belt.
Thanks Ceasar! I been to orlando twice with the family. We stayed at the Emerald Island Resort Gated Community. I love it down there. I would love to get a property there and rented to the vacation disney folk. We paid $2,000 for a seven bedroom house with a pool for the week. I think that's Kissimmee, florida.. I will keep you in mind if i ever come south to buy a property for business. You will get your first just keep at it..