All Forum Posts by: Chad Chiles

 Buy and hold is the plan for now. I want to add bedrooms and raise rent.  Sounds like patience is the play.

Does anyone have good strategies for raising rent on a property that is under rented once you purchase it?

I've come across multiple properties that I want to purchase that have leases signed out for over a year.  Can I change rent as a new owner or am I stuck for a year?

Hey All,

Anyone have recommendations for a service to keep all of your book keeping services? I don’t know If there is one that is used that works with collecting rent, too? Currently we use innago but wanting to get to something more streamlined. Thanks for the responses!

Hey All,

Me and my partner are having a general discussion on our properties that need some updating. We currently rent out our 3 Bd units for $1,500 per month. Some are out dated and need face lifts, (new floors, paint, etc.) nothing major, yet. We don’t have any issues getting renters in our college town but I think they’re is potential to ask for more money doing these things. What’s your opinion on this? Just continue with our cash flowing properties or put some money into them and ask for higher rent? We’ve talked about just cleaning them up when we want to sell and move on to the next property, as well. Anyone else find themselves thinking about this situation?

Hey All,

I'm looking at a potential property to rehab and rent and found some bowing in the foundation.

Steel bracing seems to be the easiest fix? Does anyone know what this type of work runs or better solutions to this?

Thanks!

@Brent Coombs My local bank lender who I've built a good relationship with over the years. 

He has a pretty good handle on what our market is for rental properties in our area.

We had to do some fixing on the first property and now have a good amount of equity built into that. We could sell it and make double what we have into it if we wanted to. WE GOT REALLY LUCKY ON DUPLEX #1.

Hey all, I'm a newbie to this place and just wanted to see what you're thoughts on this are.

A little background, I purchased 2 duplex's both with no money down.  We are cash flowing about $700 per month from 1 and $400 per month from another.

I have the means to put money down on properties but just thought it was too be good to be true.  Should I continue with this strategy or put money down in the future? 

I bought these with no background, I just jumped in and went for it based off knowledge of my area.  about a week ago discovered bigger pockets info and I'm diving in educating myself!

Thanks for the responses.