All Forum Posts by: Alexis Marie

Which nationwide banks are good for managing rental property accounts while living in a different state from the properties you own? Anyone have positive experiences with Wells Fargo, Bank of America, or Chase?

I want to purchase a rental investment property that's been vacant awhile but want to do so without a realtor. I dont know the steps though. owner is asking about $65-67k but it will need repairs throughout including all new flooring, some drywall repair, paint, door replacement. not sure about any of the heat/air or plumbing systems. Dont know how much all the repairs would cost but lets say if it's not more than $15k, would this make a good investment? I know the ARV would be $100-105k, and rent for $900-950. Please share any helpful tips

I was unable to list a rental this past summer due to Covid, and plan to list it to be available on Januay 1st. I'm choosing January 1st move-in date so that I can choose either a 6 month or 18 month lease option, giving me a summer vacancy cycle as most interested applicants are during summer. Is listing it as available on January 1st a bad idea during that time of year? Are there any other dates you would suggest between now & January that would work better? Other ideas to get on a summer vacancy cycle?

What would be the best way of investing $15-20k as a beginner who's never invested before, to get the most return & make way for future investments? Right now I'm mainly focused on rental property (single family but also I'm thinking of mobile home parks or small multifamily duplex or 4-plex), but I'm open to hearing other options. I want to invest wisely while setting myself up to grow a portfolio successfully.

@Gary Parilis - thank you for this info!

I have an opportunity to buy a rental property and need advice.

Asking price is $63k.

1. Current renters in place paying $700/month and will stay. (i believe this is under market as

2. I live on the same street and was advised by local property management companies I can reasonably get $800-850 for mine which is the same size & layout as the other one).

3. Its for sale by owner. I've never purchased from an owner and not sure what to look out for. I haven't bought any real estate in several years.

Would this be a good investment? I can pay the 20% down but not sure exactly how much mortgage would be but estimated on a 4.5% interest would be around $320.

@Mike Morawski thank you for the advice!

@Jai Reddy thank you. Since you're local, is there an Oklahoma landlord association I can join?

@Joe Splitrock thank you!

@Sarah Brown thanks. Is that an app I can download?