All Forum Posts by: Jeff S.

I'm still new but I've been searching duplexes and fourplexes. In my area I've found that many (not all) MF properties that are "mixed in" SFH neighborhoods are nicer (and pricier) than those clumped in a pocket of MFs.

My advice (as a newb) is that if the numbers work it could be an excellent opportunity, but make sure the cash flow works with both sides rented out (non-owner occupied) and with property management fees.  Otherwise you might be getting into a trap.

Hi Navya,

  Graduating from CMU is not something to squander! Are you an engineer? My opinion (maybe not typical for BP) would be to get a corporate/techie job and start dumping money into a 401(k).  Live below your means (student lifestyle with a corporate salary) and save up for a down payment.   (Note that a 401(k) might be useable for a down payment.)

When you are ready to buy, then think about getting a house and renting out rooms to friends or co-workers. Or do a duplex if that works.

Just remember that a good W2 income and low personal  expenses is a HUGE advantage that many other beginning real estate investors don't have.

(OTOH, if you were a philosophy major, please ignore... )

My (non expert) understanding:

Physically, lead paint is hazardous to children if they ingest or inhale it.  Not likely if paint is not peeling/flaking.

Legally, lead paint it hazardous if you know (via testing) that it there. Also, if you do not properly disclose that it *might* be present.

My conclusion:  assume (but do not test) that it might be there.  Take good care of all painted surfaces. (And don't get legal advice from the Internet.)

Thanks, @Bill S.

I've heard that advice (here on BP) and do feel I'm better off paying a little more for better tenants.

My first (almost) deal was perfect in that sense.  I loved the property, neighborhood, price(!), neighbors.  But it got away.

So now the area I'm targeting is a little more upscale than the more run down things I've seen around.

I have no idea about screening non-US residents, but can certainly appreciate the challenges they face.

One thing I noticed while living in Europe : wiring money to someon's bank account is a VERY common way to do business.  I've registered for conferences, bought merchandise, and even had a salaried position where that was the ONLY way of paying/being paid.  

Well, frankly, I was hoping to NOT have any horse-sized dogs or short-term renters....

I can relate to not liking fhe crowding of apartment (or condo) complexes or overly strict rules (HOA mentality). And of course I am an awesome guy, so there's another market advantage!

Still, some of the units I'm seeing don't even have a balcony or a fenced in area for a grill.  That seems like it would be a deal-killer for a whole lotta folks.

I did, however, do a bit more web surfing and the rents are indeed lower.  But I'm not sure what utilities are included in those apartment rates.

Hi @Brad Starling,

  The areas I've been looking at (live or via Google) include Old Colorado City/King St., Holland Park, UCCS, and Rockrimmon.   Downtown would be nice, but seems pricey.

  None of these areas are that bad, really.  I'm just trying to get my head around the market.  TBH, the 4-plex zone up in Rockrimmon is very tempting - seems a lot more middle-class, surrounded by upper middle class SFHs (and Nature).   

Also, I agree that the vibe I have seen is not at all "rough" in the sense of dangerous, just rough in the sense of not caring too much about appearances.  And for some reason it seems particularly true about the driveways & parking.  Some driveways I don't know if I could handle in a 2wd. 

Thanks, Jay.

Given the way things are tending, I kind of relish the idea of being able to say:  "Why yes, I AM discriminating against you.  I refuse to accept your application because you are a Scorpio, and your father in law is left handed. NEXT!"

Thanks Mark (sirry the @ doesn't work on my phone).

I feel like a duplex hits a sweet spot where you get a lot of space and privacy compared to a complex, especially if it's mixed in a SFH area. So far, the 4plexes I've looked at are kind of crammed together into "plex ghettoes", that might have a tiny bit more elbow room than a complex but less curb appeal.

So where is value to be found:  increasing curb appeal or "elbow room" ?