All Forum Posts by: Joe Demonte

Good for everyone here starting out nice and early! I hope you make the plunge @Joe Fornasiero  ! :D

Have you run the full numbers on the 4 unit to see what your monthly cash flow would be after PITI (principal, interest, taxes, insurance), vacancy percentages, & possible maintenance repairs?

Personally, I would run the numbers on both types of properties and see which one has better numbers factoring me living there (you're out of pocket cost to live there). Then I would factor in which property is more comfortable to live in (do I like the unit you come home to). 
Regardless, I am a firm believer in learning by doing, and no matter what you do, I think you will be happier because you made a decision & learned from it. 

Hope that helps! 
Wish you the best. 

Hello @Felicia Livingston ! Welcome to the site. 
I would first suggest working the numbers out to see if it is a good deal / worth it for you to rent it out. 
Here are a couple articles on Real Estate Investment Deal Analysis & How To Rent Your House

A big factor many may agree when renting out of state is having a very reliable property manager where your rental home is. This can make or break the way you look at your investment. 

Can you post some information on the property: Location, cost of purchase, down payment, type of loan, using a property manager, insurance costs, homeowner taxes, up front repairs to get it ready to rent, & how much rents are for a similar home in the same area? 

I hope that helps on getting you to the next step. 

Congrats! You worked out the money well, even with ah HML loan of 25%.

Did you get an inspection prior to purchasing? If so, did the inspector call out the roof needing the replacement? 
I know not pricing major repair items like that could really increase costs. 
Looks like your RE agent deserves a nice bottle of wine for his help or other gift for his help :D

Wish you the best! 

That google map 360 panorama view is BRILLIANT! That is really creative and smart. Seriously, bravo. 
And great job on the rehab! The inside looks fantastic, along with the structural joists in the basement. Good lighting coming through down there. 

I am curious about this as well... Hope someone has some insight this.

Here is the FABCO website. 
But here is Bigger Pockets Tenant Screening Article: Tenant Screening

Hope that helped. 

Does the cash flow account for maintenance, reserve fund, & vacancy? 
If it does, then I would think the $50/mo isn't that bad. Especially if your able to raise the rent on the next tenant. 

That is definitely the best thing to say. 

The contractor network is sometimes very small and probably a better move not to bad talk. J's suggestion is spot on. 

Welcome to the site! 
Your area has lots of different investing possibilities! Great suggestion by Curt Davis. 

May also want to check out the Wholesaling specific forum HERE

Best wishes to you. 

Great job on the remodel! 

I think there have been some great suggestions. Between staging a unit, changing the units to a "2 bed w/office" and worst case slowly decrease the rent prices by $10-$20/mo you should see some positive signs.

Also seems like your area is at beginning stages of a market increase. Once those other town homes are built, people wanting to pay less in prices may gravitate to your units instead. 

I wish the best for you.