All Forum Posts by: Jeff Arndt

Good luck on your future endeavors!  We live in a tremendous market.  Keep us updated with your progress!

I recently renovated a small kitchen with almost no natural light.  It was very ugly with brown EVERYWHERE with a big aluminum awning outside blocking the only source of natural light.  I went with white IKEA cabinets and they look great.  The space feels much larger with the white cabinets and lighter colored floors.  I also removed the awning outside to increase the natural light.  The small things can make a huge difference.

As for the durability I cannot really comment.  I just completed the rehab 6 months ago and there hasn't been any signs of wear and tear yet.

I've had it happen multiple times.  If a tenant wants to break their lease early I take their security deposit in full and I also try to get them to list it on craigslist and find a replacement for me.  They usually cooperate.  Of course I always meet the new tenant in person and do my typical background check etc.  But this saves me a lot of time communicating and showing the unit to prospective tenants.

My girlfriend (before I met her) had her security deposit revoked when she abruptly moved to a new apartment because a friend of hers needed a roommate.  So this happens all the time in PA.

Is it legal in your state?  That I can't answer, I would call an attorney to find out for sure.

Jeff A.

Good luck!  Please come back and post before and after shots!

I only manage 4 units and I was looking for a free option.  I like the interface and simplicity of rentechdirect.com.  The version I am using is watered down from the paid version but it does all I need it to do.  Accounting and tenant lease management.

I think the first step is to figure out what type of investor you want to be. Do you want to be a passive or active real estate investor? Active real estate investing includes flipping, wholesaling, development. Passive can include long term rentals or buying discounted notes.

I'm personally taking the passive route with rentals. The way i got started was to buy a triplex and live in one of the units. It was a great way to learn the process while greatly reducing my living expenses!

Good luck!

Hey Matt,

I currently have two 3 units that I rent out now and 1 more unit that I plan to rent this summer. I can help you with any questions you have! Just PM me or send me a colleague request.

Jeff

Welcome to BP!

Start here with the bigger pockets ultimate beginners guide.

http://www.biggerpockets.com/real-estate-investing

Its a great resource and it will get you to start asking questions that you didn't have before.

Read read read and please don't hesitate to ask me any questions you have!

Jeff A.

Welcome Rob,

This is the best resource around to learn about the business. Let me know if you have any questions!

Jeff

Michael

My personal residence will rent for about 1400/mo which is waaaaay more than I would ever be willing to pay myself. So I take that as an opportunity cost considering I would be happy renting a small place for about 800 or so for myself. I plan on changing this by summer of 14.

I kick myself all the time for buying the new car but I used the money that I could have spent on the car to buy and renovate my current primary residence. Which is an asset I plan to keep for a while. The rate is in the 2's so I though, why not?

Rick

I'm currently picking off my highest rate student loans right now with any extra cash I have and I will snowball the old payment towards the remaining balances.

As for the car, it's more than likely underwater because I financed everything including the taxes so that I could purchase my primary residence. I could do trade down but I would have to pull cash out of my pocket.

I have a fair amount of money saved up for maintenance and repairs for the rental property. But, I do not have 3 months living expenses saved up which would make me feel a lot more comfortable.

I'm leaning towards paying off some debt before I'm comfortable acquiring another property.