All Forum Posts by: Alan Asriants

 Exactly! Gives you direct experience without being too overwhelmed. You don't have to go far to fix something, collect rent, etc!

 Love to see it working in other regions as well! 

Whether the interest rates are 3% or 7%, those who are renting are still losing in todays market. I personally believe that all first time home buyers should get into house hacking. Using FHA, paying only 3.5% down with potential of up to 6% in sellers assist. You can get into a duplex for pretty much what it would cost you to pay your first, last and security deposit. But the beauty is… you own it! Yes, with these rates you are definitely not "cash flowing" and I believe that ship has sailed, but if you are renting out the other unit and it is costing you the same, or less than to rent something similar, you are in the green. Don't forget, tax benefits! Depreciating your 400,000 duplex in Philadelphia allows you to write off over 12k a year for the next 27.5 years. Did a repair? Write it off. Did a renovation? Write it off. Of course when looking at a deal make sure you are aware of any major capital expenditures (roof, siding, windows, major Reno, etc).

Hope this helps!

@Gloria A. Like most have said, immediately start the eviction process per your state law.

Big red flag here is having tenants pay deposits in increments.

I require 3 months - first, last and security. I let tenants break it up because sometimes it really does add up to large amount and not everyone is that liquid. Depending on when the move in I break up those due dates. I’ll never hand the keys til I get every penny.

My general rule of thumb:

If prospective tenants are already giving you problems with payment of deposits, setting terms, and giving you a headache about issues (of course not major) about the property, I usually try to move on and look for someone who is motivated and appreciative to move in. I’ll even take a hit on rent to get a better tenant that doesn’t give me problems.

If they are an issue before the lease, they are a problem after

@Tim Bee usually I am trying to find buy and hold deals that are returning 10%+

My expenses are usually minimal - public electric, RE taxes (PHILA taxes aren’t super high), insurance.

Tenants are responsible for the rest: water, landscaping, snow removal, utilities, etc.

I invest in small multi family usually duplexes, so having the tenant responsible for those items is not unusual.

Goal is to find long term tenants that treat the place like their own. I believe with small multi family like duplexes this is possible. With larger multi families would be hard to have tenants responsible for trash, snow, water, etc, making your expenses larger per unit.

So if I have a 1700/m unit with two units I am at 3400 a building with about 458-500/m in expenses

Hello All,

I am currently renovating my home for Buy and Hold and I wanted to ask where people buy their insulation? Where do you guys normally see best prices? Classic Home Depot? Or are there suppliers

I am in the Philadelphia area

Hello Yuri,

This is a great description and I love how detailed you were. Thank you for that. 

I see that this post is 2 years old now. I spoke with a Zoning Attorney and they informed me that in order to get a variance approved I have to go about installing a sprinkler and fire alarm system to build it up to code. Are you aware of this? Thank you