All Forum Posts by: David Lee

@Marci Stein

I would not say that you got ripped off because New York prices may be higher than where I live. I got one and had it installed for around $500. You can always check prices of one at lowes in New York and then one in Tennesse. The prices should not be that far off. The big thing is the cost of living were you are having the work done. That why I think it is a great idea to network because you can find people who will do just as good as job for a cheaper price an example would be like @Dawn Anastasi .

Welcome @Mike Feathers . Be sure and use the search at the top of the page for the things that you are interested in. There will be information on blogs and other things that people have had questions about. Looking forward to here about your success on BP.

This can be caused by several different things. First I would check is to see if there was something wrong with the hinges. If the hinges were put on wrong it can cause them to shut in correctly. They also have magnets that can be put on the inside of the doors to help keep them shut.

@Mary B. thanks for the replies and here is what I have so far. The taxes are around $1,900 a year. I will bill having the deal financed but do not have the terms set as of yet. I assume as I go into the deal that all will need the same things such as flooring around $2,000 dollars per house. $1,400 to paint on the inside. The outside of the houses have vinyl siding. I have priced the appliances at $1,600.

@Michaela G. I have only got to look in 3 out of the 10 but None of the homes have appliances. All of the utilities, water, and sewer are separated and paid by the tenant.

@Mary B. Within a 1/2 mile rents on rentometer rents on average are from $400 to $550. In the whole city of Winston Salem NC where it is located they are around $1,100 on average. A lot higher then I would place these at. I am thinking no more than $550. There are houses across the road that are around $200,000 homes that would rent for $1,500. I would be the PM most likely for the first year while I was going everyday to rehab the homes. After they were rehabed I would most likely hire a PM. What do You mean by the Addition NUmbers?

I am looking at a property that has a little bit over an acre of land. It has 10 single family homes. They are asking around $200,000. 7 out of the 10 are rented out. They are renting on an average of $470 dollars a month each. A little over a year ago they were all rented out. The PM has done a poor job of taking care of these and getting rid of the renters that do not pay. They do not have any stove, refridgerator, washer, dryer, or A/C unit. I think that I would be able to do some cosmetic such as flooring, painting, appliances, and be able to raise the rents. Thoughts?

Next year I plan on purchasing 3 SFH this year. I also am going to purchase my first multi-family home. I am also going to do my first flip this year. I would also like to add a business vehicle.

@Jonathan Alindayu One of the ones that I have used is prosper.com. The interest rate is higher but it is something to look at.

@Johnny Nuchols

Welcome to BP. Its good to see somebody else from the Carolinas. Look forward to reading about your success.