All Forum Posts by: Joey D.

What about fha loan?

And about the same price to replace, give or take a few bucks.  The electric has 2 heating elements,  one to maintain and one to heat quick when in use.  If one goes out the other will still keep water hot.  If they complain about hot water running out faster than usual you know the demand element is bad.

can i hear someone's opinion who's name is not mike,,,,,all kidding aside good info guys, about the time I though would be needed, maybee even a bit less.  Now for hard part,,,,,, the down payment.

Thanks for the input guys, that is the info I'm looking for.  

Thanks for the reply ashley.  I hear you on the pay down and tax advantage, but I have no idea if it takes 10 hours or 1000 hours of effort per year.  I don't think it's as high as 1000, but for argument sake let's say it is, even with he tax benefits and pay down I might be working for minimum wage.  At that rate it could take me 10 years of grinding it out to save for second property.

I have a question for all diy 3 to 5 unit owners.  How much time are you spending at your multi family unit per year doing maintenence and property management.  I've looked at 3 deals so far that the numbers didn't work out for me.  This week I'm looking at a 3 unit with a little better return,,,,, but,,,,, the last figure I need is my time.  This will be my first property that I will be doing 90% of the work myself.  I have most of tools and knowledge and even some of the material (leftover pipe fittings, wire, recepticals). Also, this property is not a rehab, just us typical 30 year old 3 flat.  Thanks for any input.

Hello everyone, I'm from chicago thinking about getting into the rental market.   Have lots of questions, and from reading over 100 posts, I think this is a great place to get them answered.