All Forum Posts by: Jim Hogan

I am just thinking maybe go for the high and low one. Both have the highest interest rates. Once the low one is retired work on the next one. I would keep working both ends and meet in the middle. It maybe crazy but I like averaging out the odds.

Will they still qualify with a 10-20% rent increase? I would take that into consideration too. The last thing you want is a mad tenant that can't and won't pay the rent. Figure out how much is reasonable and have the lease go month to month. In 10 months raise it a little more. Then do it again in 11 months.

Will they still qualify with a 10-20% rent increase? I would take that into consideration too. The last thing you want is a mad tenant that can't and won't pay the rent. Figure out how much is reasonable and have the lease go month to month. In 10 months raise it a little more. Then do it again in 11 months.

As everyone else already stated all parties should be on the lease. My first rental and tenant were a couple and both were on the lease. Short version of a long story I had to call the tenant and verify that according to the check that bob gave me they were moving out. There was a long silent pause and she says " I guess he is. We were having issues and I thought we cleared them up." Thankfully they all moved out with no issues. Also if you rent for 6 months charge more. You need to remember in 6 months you will have to cover vacancy again. Plus any minor repairs. I have done it and charge one and half the rent. If rent is 1000 I charge 1500 and I explain the reason. Most people understand the extra charge.

I use C&C for most of my flips. Call Tom Chiavoroli at 267-718-0684. He is a good guy and will give you a good price.

Hey Andrew, I am from Malvern.  I am a realtor and a flipper.  Feel free to contact me to discuss your plans.  I have done flips in Chester, Montgomery, and Berks Counties so far.  Eventually I will do some buy and holds.

What would it cost to run ducts? Could you get more with central air? How much for separate system for each unit and then the tenant pays heating bill? Sorry to put out more questions but it is a hard call. Get several quotes to see what the cost is and the opinion of each. Once you hear their opinions you will be able to know what opinions are real and what ones are trying to scare you. Good luck.

Contact the landlord that filed the eviction. You know there are 2 sides to every story. Normally a landlord will be honest with a fellow landlord. I had a case where I was renting a property. A guy walked in that I knew and my wife was ready to rent to him. I still made him fill out an application for him and his wife. Red flags in the app every where like wife was not on application. I tracked down his previous landlord that he did not give me any info on except rental address. Short end of story he owed the guy $10K in rent and damage. Also was informed of a drug issue. I thought I knew the guy. I rejected him and ran very very fast. Make the call and chech before you agree.

One other thought and concern I would have is how many more pets will she get. I would talk to her and make it clear that she can not get any more pets or replace any pets. Are they all fixed? As long as she pays and not a problem to you and other tenants keep her. She is a "golden goose". You can increase her rent and she will need to pay unless she buys a house. There is no landlord that would take her and the zoo b

Bring in a floor person and ask for a quote to refinish the floor. You will actually want 2 quotes. One on what they would charge before the marks and one now. You may even ask for another quote just to remove the marks if it would be feasible. Now you have numbers to work with to charge the tenant.