All Forum Posts by: Austin Youmans

Those are not topics I would focus on when buying an investment property.

• What is the cash flow for each?
• What kind of neighborhood are they in?

I would ask about each tenants rental history from the current owner and see if there is a problemed tenant at least more than the others and that would be the one I would let go to move into their unit.

Unless you want to scare your tenants away you probably want to raise the rent slowly.

$20-$30 at a time each year.

It is just a different way to say the same thing.
Usually investors know it as lease option but people looking to buy a personal residence that cant get bank financing know it as rent-to-own.

You should start by learning what you can especially about your local area.

You can read on BP, get a book and find a mentor that is close to you.
I would suggest doing all of those things.

Anybody can vote on your forum posts.
So if you post good questions or answers people will vote for your post.

Here is a link to see what you need to do to get awards.

http://www.biggerpockets.com/awards

Are you planning to sell it quickly?

If you are planning to keep it as a buy and hold I wouldn't renovate the apartments that have renters already.  I would just keep increasing the rents and they will eventually move and at that point you can renovate the apartment.

Which aspect of real estate are you interested in.

Here are a few ideas but it depends what your goals are.

• Real Estate Agent
• Apprentice for a Flipper
• Property Manager
• inspector
• appraiser

I don't think that FHA would allow this as you are suppose to occupy the property. If you are separated and living in separate housing you could possibly argue it but you need to talk to a lender. If you are living together and plan to keep doing so it would be fraud as you would not be occupying both properties.

I think it is pretty typical that PMs will do an interior inpection once a year. Of course you can always ask them if they would do more but really if they screen the tenant well than I wouldn't worry about it. You also don't want to bother good tenants by trying to do an interior inspection every month, people like their privacy.

Some photos to show how much not a problem this is...