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All Forum Posts by: Drew Heiss

Drew Heiss has started 0 posts and replied 11 times.

Post: Best way to hire contractors?

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

Menards and Home Depot will have bulletin boards for contractors to hang their business card.

Post: Home Inspector in Beloit

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

https://zuehlkeinspections.com/  Aaron Zuehlke was very good.

Drew

Post: New Member from New Jersey

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

Welcome @Leche Hopkins. I'm also a newbie and I love these forums. You can search the forums for various topics and get a ton of advice from the experts. Great stuff.

Post: Mid Fifty Couple Inheritance

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

Yep. I'm in the same boat as you. Still hoping to buy our first single family rental.  I've been watching the local market closely. I have a realtor and I know the neighborhoods pretty well. I'm learning rent prices and home prices, and ready to jump in. Made 2 offers but was too low. I'm considering a couple nearby cities, but noticing prices are quite different. It will take more research to learn those markets. Best of luck to you.

Drew Heiss

Post: How to figure out how much rent to charge?

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

you can check this resource: 
https://www.biggerpockets.com/rei/fair-market-rent/
and also go the the forum page and type "how much rent to charge" to see many posts.

The same sites you use to find a house for sale is also used to find a house or apartment for rent. 

Post: Converting Smoking Unit to Non-Smoking Unit

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

Hey @Blake Johnston, great question. I was wondering myself.

I also wanted to ask a related question... do the vapors from the vape products cause any odors, discoloration, issues, to a home?

And do landlords include "no vaping" policies in the lease as well as no smoking policies?

Have any of you guys (@Tristan Hickman, @Joe Abughazaleh, @Rachael Agruso, @Brian Van Pelt) dealt with the new vape craze?

Post: Using 50% Rule with an FHA Loan Question

Drew HeissPosted
  • Beloit, WI
  • Posts 11
  • Votes 6

Hey @Anthony Rodriguez,

What if I use a HELOC as my down payment? Do I subtract that loan amount from the rent also. And what about other larger down payment options: how do I calculate trying to recover that money?

I'm surprised nobody has replied. I've been wondering about this same thing. I plan to buy my first rental soon, and I thought a 6 month lease might help ease the pain of having an undesirable tenant.  But maybe you need to bite the bullet and have a 1 year lease.

Anyone?

Drew