All Forum Posts by: James G.

@Paul Brown

I'm using state farm and it's only around $800/yr for a duplex. Seems reasonable.

I'm an out of state investor looking to invest in a commercial property and have the funds available however I need an instate guarantor for banks to lend to me. All the banks I've spoken with in the area are excited about the property and willing to lend the money however they have a requirement of an in-state guarantor. I have the money for the down payment, I'm looking for someone who is willing to be an instate guarantor. Please let me know if you are interested or know someone who is so we can discuss details about the property and terms. Specifically, I'm willing to pay an origination fee and an equity stake. 

@Dave Rav

Who can you report them to?

@Joe S.

Personally, I would offer the tenant $1500- $2,000 to leave and have them sign a form for the money on their way out. If they agreed to move out by this day and time you will be there with check in hand.

I know this might get a lot of kickback but this would be a last resort method to get them out peacefully without damaging further.

@Jacob Repreza

I had ranges from $780 to $1600/yr. I went with $780 since it was replacement cost and very similar to all other plans. Idk why everyone quoted me so high to replace a brick duplex. It costs 145k and some were telling me it is going to cost 300k to replace. Others 200k. Insurance is such a racket.

@John Underwood

Do you self manage or do you use a specific company that caters to short term rentals?

@Kyle Abramov

Totally depends on how much you want to deal with and what type of rental you have. I'm an out of state investor so unless I want to either hop on a plane or drive 6hrs to my rental property every time my tenants need something.....I think it's best to use a property management company. Real estate for me is also an investment vehicle to retirement. It is not my full-time job and I do not want it to take my full attention. Everyone's got different objectives.

@Kim Martorana

Great work!! Very inspiring post.

@Jay C.

That's my plan. I should be making 300-500/mo depending how much hidden expenses I didn't account for turn out to be. I'm putting it all in a separate account away from my checking to let it just build up until I have enough for a second down payment. I'll probably be contributing 500/mo myself to the pot as well.

@Joe Villeneuve

Great example Joe. I've struggled with this question myself and that really did help put it in perspective.