All Forum Posts by: Gerardo Hernandez

@Louie Gabriel @Marcus Auerbach Thank you both for the information and tips!

@Shanna Vataj Thank you! Very helpful information and I will for sure use it.

@Mitch Kennedy Well with the current market I didn’t get an amazing deal but I would break even if I rent the other side for 900. That is with vacancy 5% and repairs at 10%. I know I don’t need that to make this make sense because of the house hack but it would be helpful. I also will invest that little bit of extra cash in improving the property since it does need some updating. Thanks for you input!

@Joe Splitrock That great information! Thank you! I have been wondering about that and being an starter investor I didn’t think I would use a tax person but it might be worth the extra investment to get an expert to do my taxes.

@Greg M. I apologize for the lack of information. The property is located in Wisconsin and 900 for a 2 bedroom with a garage is still charging under the market. Most 2 bedrooms go for 950 and above depending on how nice they are. I have also noticed a lot of the apartments available are saying no pets at all.

It sounds like they got the dog right before their last lease ended and the landlord let them stay anyway. I don’t mind them having the dog but I do want to make sure it’s accounted for and that I save up for any additional repairs that would need to be done because of the dog.

I did do my research but I know there is more out there and since I am talking with more experienced investors here I am sure I will be pointed in the right direction on what I need. Thank you!

@Nathan G. Thanks you so much! I will definitely educate myself and get myself in the right path.

Hello Everyone, I just got my first house hack. I am extremely excited for what's to come but I am not sure what to do with the following. The renters on the other side are paying 790 for rent at the moment but I need the rent to be 900 and above to make the numbers make sense. Their lease is done in August and I want to know how to go about raising the rent? I also see that in their current lease it says they shouldn't have a dog but they do have one. How do I go about charging for a pet fee and how much do people normally go for? 25? 40?. Also I think I am going to have them sign a new lease with me but I have no idea what needs to be on a lease to watch my back and so its all in writing. 

Also, I know there is a lot of tax breaks now that I am a landlord. Let me know if you know any resources that might give me more information on that! 

Thank you all in advance!!!

@Erik W. Thank you so much! That's exactly what I needed to hear and even if its not a property that works. This will help me when analyzing other properties as well. I will find all those things out and go from there. I will also look into USAA since I am military as well. Thank you again!!

@Russell Brazil Yes and No, I have an apartment where the rent is 625 but Am renting a room for $300 and my girlfriend pays me $250. I pay the rent and bills. What's killing me right now is the 2.5 hour drive and the gas. That should take me above 500. 

@Lien Vuong I apologize if I confused you but this is a actually a fourplex. I would be living in one of the 4 units. If I don't go with this than I would have to go with a single family house or rent. 

@Joe Villeneuve So even if I would be living for cheaper it doesn't make sense? What could be done to fix the deal? I planned on offering lower than 400K but what would make the deal make sense?