All Forum Posts by: Arthur Banks

Nicole,

Do you mean FRIDAY, Nov 1 or Saturday, Nov 2? I'm assuming the latter as Friday was never discussed. Just clarifying.

Thanks!

@Nicole Pettis

Saturday's would be great for me. Less traffic and I won't be worn out from a days work.

@Steve Babiak Yeah, I agree they're all staged but it does make for an interesting idea to stage a newly rehabbed property for the initial rent. Can't see staging for turnover tho'. Unless of course the property went un-rented for a period of time. But at that point, may want to look at other reasons why it hasn't rented.

I was watching "Renovate to Rent" and the guys staged the property. I had never heard of staging a rental so I was curious has/does anyone stage and if they had any numbers as to the benefits.

@Brandon Turner Thanks! I stumbled upon this yesterday and then browser crashed and couldn't find it.

@James L. Exactly!

@Micki M. Definitely agree. I just wasn't sure if it was ideal to have to cover some of the expenses out of pocket while I reside there or better to find something where one unit covered and eventually getting the second rented would be gravy. I imagine finding a good property that cash flowed or at least broke even off one unit would be pretty hard.

@JERMAINE LUCAS That would be great and ideal, but I am not finding anything I'm happy with. Maybe I just need to keep looking for it.

After listening to podcast 35 today and hearing yet another person say they started by buying a multi-unit, I've all but cemented in my brain this is the way I want to re-start my investing career. My question is, in the case of a duplex, if this is to be a property I plan to owner occupy for however long I'm required before I'm allowed to rent, should I be looking for a property where the TOTAL rents cover all expense and cash flows or just rent from one unit?

@Brandon Sturgill Just so I can confirm my math, are you saying your total costs are $12k or $24k? I calculated $24k. Rehab $12k and the other costs at another $12k. Just wanting to make sure I read it right and calculated correctly.

Following your numbers, your purchase price should be $36,200

$86,200 (ARV) * 70% = $60,200 - all your costs ($24,000) = $36,200

Someone please correct me if my math is off.