All Forum Posts by: James Maradits

Awesome!  I have a feeling this is going to be much more common place in years to come.

@Thomas S.

I think you're missing the intent of my comment.  Perhaps I should have used different wording to be more clear.

The point I'm trying to make is that the cashflow will be lower on paper due to the debt service on the $32k in improvements, but in reality when you factor in the potential for less maintenance and turnover expenses due to the improvements (not to mention the long term utility savings) it may prove to be a better long term hold for Darwin.

Good read.  I'll be following along to see how it works out for you.

Some things are more important than the numbers.  Great cashflow numbers on an inefficient, outdated property with deferred maintenance with unhappy tenants may not really be so great when compared to more modest cashflow numbers on a low maintenance property with happy long term tenants.

Unless it's going to totally kill your bottom line, I would do it if you're already having HVAC work done since it's likely going to be cheaper than deciding to add it on later down the line.

It would definitely be a selling point for a prospective tenant or future buyer.  It may be beneficial to do a little digging and see if other rentals in the neighborhood have ac.  If your house is the only one without it, it may be harder to rent.

Nice blog, Jeff!  Your success is very motivational.

Congrats!  I respect the "get in get out" strategy.  $34k profit and no real money out of pocket is awesome!  I wish you luck in your pursuit of a larger property!

Seems like nothing but an extra headache unless you have a large multifamily complex.

For what it's worth, I don't think I know anyone under the age of 40 that actually has cable TV anymore.  I could see the strategy being beneficial if you intended on providing internet, but not cable.  

Side notes:

This kind of speaks to a "you get what you pay for" note.  I'm fairly certain if you would have hired an agent that would charge a higher commission rate that they would have seen that the listing pictures and description were of a higher quality.

Any ethical buyers agent is going to work on the best interest of their client regardless of the commission split.  I think the problem here is not the commission but the listing and presentation.  Have you gotten any feedback from agents who have shown the property?

Do the pictures immediately, don't let it ride for two weeks.  Keep in mind the majority of buyers are flipping through dozens of houses on all the various websites and apps every day.  If your listing is two months old and has bad pictures that they have already seen, they won't give it a second look.  Spend $150 and get some good pictures taken and do a minor price reduction to revive it.

A nice neutral gray or beige throughout the place would brighten it up and make it look cleaner, but that could probably wait.  I would start by cleaning up the yard, getting rid of those cords, straighten up the window treatments, replace the antique looking ceiling fan, and cleaning the dirty carpet.  The wood floors downstairs look nice, but picture 12 with the paneled looking walls, old ceiling fan, and dirty white carpet is a huge turn off.