All Forum Posts by: Patrick Donovan

Hopefully this helps ! 

You should look into the BRRRR method. Instead of moving into an apartment and paying rent, buy a multi family home such as a duplex or triplex. Move in. rehab it, refinance it, repeat! That way you have somewhere to live without paying rent. If you choose this method you could look into and 203k loan. which if I am not mistaken you can buy a property with a low down payment and the bank can loan you money for the rehab as well. like I said you'll have to do more research into it but it would be better than paying rent that you'll never get back !

Thanks for the input !

I have some questions about managing someone else's property. I do not have a company just have a friend that lives across the country and the current management company is not working for him. Just need answers on how much to charge monthly, what exactly my job would be as in do I take care of lawn care and repairs and such. Any insight would be great I don't even know what questions to ask really. 

Brad is correct a lot of the streets down near almond and Ellis are rough neighborhoods. potential to make money but only if the tenants pay and don't trash the houses

welcome!!!! Always good to see more dubuquers on the site ! I have a rental near UD and has been awesome for me so far! Anything I can help with let me know !

I have badger mutual and they seem to be prettyour low price for good coverage.

Welcome! I am also a dubuquer and own a rental by UD! There are a few around here that need sone help if you can get them for the right price but people think they're worth about 30,000 more than they are so maybe wait for a downturn and let the economy give them a reality check !

I base percentages on monthly rent 

Ben is correct it completely depends on the place. I never budget anything less than 5% on a property when I am looking at them. Usually it's closer to 10% because I am looking at older units