All Forum Posts by: Jared Hottle

I have to say appliance repair and used appliance sales is a huge need in the investor space in almost every market. A good tech has saved me tons of money. I often give him the appliances I had when I buy new and he fixes them up and sells them. I find you can spend a lot of time trying to figure out logistics when an appliance breaks, they are not fun to haul or install and are inconvenient so I think a great business to be in because it solves a lot of problems.

As everyone has said it depends. Are you planning on using it to househack? Or live in it one year and rent out afterwards? If you are just planning on living in it and have no desire to get into investing just know it would still be a liability not an asset so to me that makes renting more appealing in the current rate environment as you are not on the hook for taxes, insurance, maintenance, capital expenditures, etc so even if your payment is the same or just under the real cost will be much higher. Now if you are planning on househacking or moving out and renting after a year that all changes because you will have some rent coming in.

I have no experience as an actual GC and do not know anything about the industry standard but I specifically tell the electricans and plumbers who work on my BRRRs to not clean up. I figure at 75-100 an hour I can clean up myself or pay someone to do it. I do understand why cleaning up after yourself each day would be good for business though in case a developer, owner, banker happens to make a jobsite visit. 

Patricia, I am near Dubuque, have a couple names for you. 

Unsure what other states are like but in Iowa they will not let the deed transfer unless the septic system has been inspected by the DNR within the last 2 years. If it is an on-market deal or an agent is helping the seller or you they should be familiar with this.

This is awesome. The most impressive thing that sticks out to me is starting with house hacking in a high-wage job like being an attorney. This is impressive as typically in my experience higher wage earners or white color jobs do not want to mess with the short term hassle of househacking but sounds like you were on a mission and sacrificed short-term pain for long-term gain. Keep at it! Also I hope you kept the heart tub lol

I Agree with a lot of what others are saying make sure the lease is up and on a month to month before giving notice. I would also work on getting the other unit rented first and then start driving up rent. If Buffalo is anything like my area people do not like moving in the cold. So raising rent now could be good but expect a move out when spring hits which will work in your favor. Worst case would be they move out in 30 days and now you have to do 2 turns in the winter months but that is a short term view if you get rents up and fully rented quickly. 

Even with the last two years being hotter than ever it is still seasonal at least here in Iowa. I always see a drop off of demand from September till February. That is why I try to get leases to end in the spring. Cannot really time the BRRR finishing up by try to get it as close to a spring/summer lease up as possible. Not sure if Boise would be as seasonal but something to think about.

 I just say something like it is still available. No showings until accepted pre screening questionnaire. It is our company policy to not accept applications with an eviction or felony and all charges are reviewed. Here is the link. 

I agree with the sentiment above. I tend to shy away when people are charging prices at all as there is so much you can get for free by showing up and networking with investors at local REI groups. Just stay consistent, find peoples pain points and see if you can help them. You are better off working in your spare time for a flipper in your area helping them with handyman type work. That way you will get paid, get experience, meet a lot of their contacts and solve a problem for them.