All Forum Posts by: Anthony G

@Parker Detweiler

That is usually my sentiment as well.  I worry that their maintenance practices might actually depreciate the property.  However, in the past I have let some tenants replace faucets and small things like if I thought they were qualified.

@Shawn Holsapple

One of the problems is that I face is that there is no outdoor storage or basement so the mower would have to sit in the yard or I'd have to buy a storage shed. 

@Shawn Holsapple

I pay $35 a mow and the lot is just under an acre.  It's actually a duplex, how do you divide mowing responsibility between the two tenants?

I know it's not ideal, but the price per mow is below what anyone else would charge and they also plow the driveway for free in the winter.  This year has been higher than ever before, and I may have to come to a bi-monthly arrangement next year.  I'm still interested in what others spend because it looks like even if I cut mowing in half I'm still going to be higher than everyone else.

I have a small multi-family property on a large lot and with the heavy rains we got this year in Indiana mowing has turned out to be quite expensive.  My rough numbers indicate that it may be 7-8% of my gross income this year. The cost per mow is pretty low, but I do leave the frequency up to the person mowing (it's a neighbor).  Does anyone else have numbers this high?

Phil,

I know what you mean about the schools, but maybe this means you should be looking in areas that cater to young adults who aren't focused on schools yet.  Indy has a couple trendy up-and-coming neighborhoods that may be good buys.  Try looking at Fountain Square, Irvington, Holy Cross, Fletcher Place, etc..

Hi Joe,

I just wanted to add a few of my thoughts, I know the Scott rental market.  O'Fallon (not sure if you are actually looking in town) has an occupancy permit that can be a hassle at times.  It seems like a 4-unit could increase the visits you get from the city if they have to look inside the units during the inspection so you would want to look at that.  Also if you don't already know, you can list directly at Scott and that way you will only have to talk to ideal candidates.

Both units look like a good deal for that market, but I would think it would be easier to rent to military with a SFR. I'm not sure if enlisted men stay on base or rent off the base, but you have a better chance of getting an officer with a SFR.

Adrian,

What sort of due dilligence do you need to do to buy tax sales in Missouri? Are the deeds wiped clean at auction or is that your job to handle afterwards?

It's an older book, but I really liked "How I turned $1,000 dollars into $5,000,000 in real estate in my spare time" by William Nickerson.

The 203k streamline covers smaller amounts, but I don't remember if there is a minimum. I've done one before, and it can be a hassle but with only one repair item it should be straight-forward.

I guess it depends on your situation and the cost of the home. If you never plan to move and you purchase a home for the cost of current rent you will reduce a significant amount of liability in the long run. It's like how the airlines buy their fuel in advance when they think they're getting a good price. Definitely depends on the situation.