All Forum Posts by: Dustin Beam

There are a lot of different ways to look at potential properties, so always take them with a little grain of salt.

That said, I uploaded mine so feel free to download it for your use or to critique it. 

Happy shopping everyone!

https://www.biggerpockets.com/files/user/DustinB17/file/buy-and-hold-analysis-spreadsheet

Haha

I think you're right @Account Closed. I don't actually know her income without looking into it (she was an existing tenant to property I bought), but I get the feeling it will be tough for her to afford anything worth while. 

I guess in the end, I decided I'd shoulder a little extra risk to make sure I wasn't in her way of getting what she wants. I might regret it later, but hopefully not. From what I understand, she's a good tenant.

@Colleen F. & @Account Closed

You're probably right in that $20 wasn't enough. I guess I just wanted a small amount for my trouble. She mentioned she doesn't have a ton of money and may have to do a short sale, so there's a fair chance it will be months before she finds a place.

@carl m. I have a spreadsheet that is itemized. I don't mind sharing, just pm me an email address

@Michael Smith good luck with whatever you do. I am a K-State grad, but that was years ago. However, paying rent in college is where I initially had the light bulb turn on where I realized all the potential real estate had.

KC is a great town imo, and I do believe at some point massive gentrification will happen in KC MO and drive appreciation way up, but that will largely be based on schools imo, if it actually does happen. As is now, your either young with no kids, rich enough to send your kids to private school, or too low income to have a choice. If schooling is ever up to snuff there to keep young parents from moving to joco, the real estate prices there will boom. There are too many large, characteristic homes there to not to.

Lot of ifs there but I'd like to see it happen.

I'm in KC so I have legit cold months, and that is my biggest concern. Frankly, I will update apartments when people leave and increase rents, so I don't have a problem with people leaving, just them leaving in the middle of January.

@Joe Splitrock, that is why I'd prefer to have them all on leases. It kind of puts me in a tough spot. I'm new at this, but I'm trying to treat people that way I would want to be treated. If she doesn't want to rent forever, then I don't want to make it harder for her to find a home she can call her own. Before I started this thread, I really didn't feel right about putting her in a bind and I feel better about not trying to force her into another year.

thanks everyone. I made a small nominal increase to the rent ($20) and am giving her a month to month lease. She was receptive to that, so it seems all is well.

Thanks again

So I just acquired some property and one tenant's lease is expiring at the end of this month. Obviously now they will have until the end of next month since they haven't been given notice.

She's willing to re sign a lease but wants out if she finds a home to buy. Part of me is like "that's basically a month to month which I won't do" and part of me is like "I shouldn't try to roadblock her way to owning a home". I'm starting to lean towards letting her out of it if she can prove she's under contract and gives me a month notice.

What do you do in these situations?