All Forum Posts by: Chris Sukala

@Jenifer Kynor thank you for reaching out. I did take a look and start a listing but never followed through. Already had tenants by the time I had chance to check it out. There is not much out there on turbo tenant videos. Seemed very simple to create listing. I am assuming once a add a tenant other window come available. I could not access and maintenance screens or payment setup screens. 

@Ben Travis we use tenant cloud also and I swear that was what I used before to syndicate the listing. For some reason it did not take it. We had more responses over Facebook then anywhere else.  

I cannot remember what site it was that allowed me to add a rental and it would list it to all the major rental sites. Need some help? I did it last year on a SFR and now for the life of me cannot remember. I thought it was my TenantCloud but nothing has shown up yet on like Trulia and others

So I found a older gentlemen through a family member that he maybe interested in selling 2 all brick 4plexs. I called and briefly talked with him. Just curious on what he wanted and what rent was. I want to set an appointment up and go tour the place. From my understanding nothing has been updated. Well he is asking 400,000 and rent is 600 a month across the board. Thinking a bit high. I haven't found out expenses yet. I was toying with a hard money lender. Never have used a hard money lander. Right now I am just finishing a full remod on a duplex we bought last year. Tenants move in that next month. I didn't think he was ready yet, so this kind of came quick. He hasn't talked with a realtor yet so might be able to slide in there. I haven't run any numbers yet. Was calling on garbage and water tomorrow.

So I found a older gentlemen through a family member that he maybe interested in selling 2 all brick 4plexs. I called and briefly talked with him. Just curious on what he wanted and what rent was. I want to set an appointment up and go tour the place. From my understanding nothing has been updated. Well he is asking 400,000 and rent is 600 a month across the board. I haven't found out expenses yet. I was toying with a hard money lender. Never have used a hard money lander. Right now I am just finishing a full remod on a duplex we bought last year. Tenants move in that next month. I didn't think he was ready yet, so this kind of came quick. He hasn't talked with a realtor yet so might be able to slide in there. I haven't run any numbers yet. Was calling on garbage and water tomorrow.

@Carson Wilcox I agree with you in the Human Factor. We definitely will use a Lawyer and treat this as a business deal and nothing less. Our thought process was if they put down the 20% (14,000) then they would have an incentive to make the deal happen in 3 years and make sure things are done right.

@Thomas S. Yes definitely be using a experienced lawyer, we have a mutual friend who is a contractor and maybe I could put in contract the he must inspect all work that is being done. He works on all of our properties and I trust him 110%.

@Bill F. @Russ Draper @Account Closed They are not in my inner circle of friends, He bought a lawn care company this year and of course they(bank) want 3 years of income statement. We already work together, he mows a couple properties for us. I agree with the Rich dad rule, In fact we were burned by a friend but did get paid eventually. This is why I figured we would be straight forward and tell them hey, you came to us and here are the stipulations and we will be treating this like any other rental, this is business and we will treat it as such. Honestly this should not effect any future purchase, we would rent it possible for 900-1000, payment should be around 480 a month or so. I think the banks take 75% of the rent for income so that. The neighborhood he lives in now is going down hill, so he thinks he would have to short sale this house he lives in now or try and rent it to break even.

I don't know maybe it is not worth it. I was thinking, heck if I do not have to pay out anything, no maintenance, no rehab, no down payment, and possible make 200-500 a month could we make this work.

Thank you all for your incite. This would happen for several months, I have a duplex that we gutted and hopefully be finished soon. I will let you guys know if you move forward

So I have an associate, I guess call him a friend, that has poor credit yet owns one home. He doubts he can get financed for another house. Both him and his wife are self employed. He came to me and ask if there was any way we would buy a house of their choosing and they would rent it and fix it up and in 3 years buy it. My wife and I were just brain storming quickly before I went to work. We were thinking, they Come up with the 20% down we rent it to them and depending on payment we would make 200-400 a month and stay hands off minus any inspections. They are responsible for remod,utilities, everything. If they choose after 3 years not to buy it they will forfeit their 20% down and any update costs What's your thoughts?

I just text him yesterday and he stated he just wants to replace deck boards and stain deck. I told him that is fine but I still want my contractor to swing by, while your doing it to make sure everything is good. Also I will draw up a contact stating you are responsible for financing project and liability. he was fine with that. 

So we have a couple that wants to redo the deck in the house they are currently renting. They have mentioned the wanted to Purchase the house at one point. We gave them a price but never got back with us, so they are continuing to rent. They have mention to us they want to redo the deck, with no costs to us. How should I go about this. Honestly the deck is small but in good condition. Nails may nneed to be funded in or replaced with screws. No rot. Could use stain. What do you guys think!

Yes I do