All Forum Posts by: Byron Scott

Thanks for the info guys. I would have to run the duct up into the ceiling and past my bathroom. I thought maybe the aluminum flexible duct could possibly release are into the ceiling and cause problems.

@Jaysen Medhurst Thank you so much for those links! Have you used ventless? What are the downfalls of having them in your unit?

Hey BP,

I have a washer and dryer hook up in one of my units but the exhaust for the dryer would be difficult to put in. Does anyone know if any ventless dryers? 

Hey @Terry Williams.

I wouldn't count on the raise in rent too much especially if you don't have the experience in rehabbing. I would look toward what the lower side of the market is demanding for those type units to be conservative. You don't want to get in a situation where you are loosing money every month because you can't get those rents. I think you should look at your numbers and see whats the lost you can offer and not pay too much for the property. I know as a newbie sometimes you just want to get started but its also important to purchase right especially in a topping market like we are in now. The biggerpockets calculator is a good place to help you run the numbers. Its under to tool tab. Good luck!

Hey @John W. this will be a regular meeting. It will be held once a month. I will definitely keep you posted on the meeting we have in May. Thanks for reaching out! Spread the word to others you know in the area.

I agree with the comments above. If you don't feel comfortable with the situation I would stay away. There are so many more deals out there.

I think you have gotten solid advise here. If you have a good reserves and can handle the turnover then increase the rent I just say you give him 60 days. Shouldn't be a rush to get that little extra cash. Its better to keep a positive relationship between you and the tenant. But the reserves is the biggest thing because anytime there is turnover money is going to be spent and less money is going to be coming in. Sometimes those expenses are much more than what you think. 

https://www.biggerpockets.com/forums/12/topics/726422-officially-a-real-estate-investor

Hey @John Fish I am not in your area but had the same situation being in a college town. I found that if you make your apartment comparable students will rent from you if it is priced below competition. Usually students are willing to leave in places that may not be the big apartment complexes if the living conditions are comparable and the rent is cheaper. I would check student enrollment at temple to see if its going up or down. I would also target young professionals in the area as another option. Good luck! Keep reaching out.

Awesome @Jasmine Joseph I look forward to seeing you there!