All Forum Posts by: Chris Sukala

@Luke F. we get 200-250 per SFR

Welcome to BP

Welcome to BP

Valerie Zutavern welcome to BP. tons of information out here. We are newbies also. We have 2 SFRs and currently have offer in on our 3rd. BP Podcasts are very informative. I am on show 63. Started at 1 and moving up. I have learned so much just listening. Good luck.

So sorry, we have been there before, it's tough. This is very inspiring thread not preachy at all

@Sarah Ziehr that's what I was thinking, hard to get rid of. We are going to watch it and see. Thanks for info

Hae-Yuan Chang we were told by our banker that they will use 75% of you rent income on the next property. So if the next house your looking at would rent for 1000 dollars a month. 750 would count towards your income. In fact this is what we are getting ready to do on our 3rd house. Good luck

Well we put an offer in on our 3rd rental. Asking 52k but low balled it at 33k. Needs work has extensive water damage. Our course powers off and sump pump isn't running so the basement has about an inch of water in it. Quite humid in there so the mold is definitely visible. We went up to 38k which should be the 20% less then offer that Hud wants. We finished our second last year an was appraised at 74900 with no basement. This one has basement. The amount of work is the same. I believe I'll have to put about 30k into it. We are using a rehab loan from a local bank so no money other then down payment is coming out of my pocket. I would think it should valve conservatively around 80k, hoping 85k. Golf course across street and just started building a 3 story medical building. My main concern is the mold issue. Basement has it on drywall, which will be ripped out but starting to see spots upstairs. I am thinking the small spots should be able to scrub and spray kilz through the whole place. We should be able to rent it between 800-950 a month

@Andrew Syrios we were thinking along those lines also. A older person who may want a dog. We plan on holding on to it long term. I was also think if and when my parents would like to downsize and or be snowbirds it may be perfect. 

Well, Had a house come up in the area we like. It was on MLS as a one bedroom home. It is settling a estate. We said Nah in this neighborhood, maybe they took down a wall or 2 and may it more accessible for the senior that lived there. It is in a great neighborhood, the house is dated however in very good shape. It is an all brick ranch, beautiful fireplace, perfect groomed yard, totally taking care of.

It is a one bedroom house, very shocked, no changing walls or anything. It seems to be built in the 60s-70s. They layout consist of kitchen dinning room living room big bathroom with only a shower and one bedroom with walking closet. oh and a half of basement rest is a crawl space, which is all cemented and clean.

The way the layout is you could not make the dining room a second bedroom, would have to add a hallway, I think it would chop up the house. Thinking maybe basement but then no storage.

We are torn the house is beautiful but one bedroom not sure on renting and of any exit strategy. Wife was thinking maybe sink some money into it update flooring, kitchen with granite, evening possible furnish for either executive suite or hospital residents. Watch or walk away.

any input would be great.