All Forum Posts by: Josh Lyons

Thanks Scott. I understand that a lot will depend on the specifics. But, I'm curious if there's a good estimate (perhaps using historical averages) across the US? 

I've rented two homes over the last few years, and I'm interested in slowly buying more single-family homes and keeping them long-term. I'm curious if experienced investors have a ballpark percentage they factor that rents will increase, on average, over the long-term (like 30 years)? Is it good to assume it will gradually outpace overall inflation like around 4-5%? That's the ballpark number I've gathered after some reading on it.

When you have a stash of money for capital projects such as repairing a roof or something that will happen every five or 15 years or so, where is the best place to save that money so it is doing a little bit of work for you? Of course you want to keep it liquid so you have it when it is time to replace something. But at the same time you want to get as much interest as you can. Is it best to have it in the highest interest savings account that you can find which of course would only be one or 2%?

I just got a signed lease yesterday on my first rental property after a few years of reading and trying to get the First One! :)

With that said I have a question about “water proofing” the house. I’ve seen “tenant proofing” threads but not one specifically about water. Please send me to it if there is one though.

The question: What are the best ways to water proof the house especially against major damage from water heater, fridge, dish washer, washing machine, plumbing leaks?

From some research it seems like water sensors near water appliances, quarterly inspections, water proofing under sinks are some ways. Any other comments or thoughts? Considering the potential expense of water damage it seems to make sense to make a rental property a “tank” against water damage as much as possible.

Thanks!

Hi everyone, 

Two friends and I plan to flip a house. Our plan is to use a mortgage. To do so, should we set up an LLC? Or, is another type of entity or partnership agreement a better way to go? I've read that LLCs can have limited options in obtaining mortgages and good rates. In other words, how should a small group of people pool their money and set up a legal agreement (entity) in order to obtain a mortgage and buy a house to flip?

Thanks! Josh 

@Steven Denio  It's not directly about negotiating but it's an interesting, related angle... Pitch Anything by Oren Klaff.  

Planning to come. Thanks for organizing it @Chris T.