All Forum Posts by: Kaleb Carsten

Hey BP,
So my brother found a commercial space in Sioux falls that is thinking about purchasing for his business and wants to rent or portions of the space as well. He has tried to sit down and run his numbers but he can't seem to work his way through it.  He has asked me for some assistance and I've only glanced over it. So does anyone in Sioux falls SD have advice on running commercial numbers? Links to other articles would be great!

Is there a reason that you wouldn't be able to use your current home as your first rental? Are the markets rents to low to support the debt on the home?

The holiday gift for the tenant's is a good idea, I hadn't thought about it before. Might as well give it a try.

@Sean Ihnen welcome to BP. If you haven't checked out the podcasts I would recommend that. 

I've seen it done both ways. But I'm planning on doing it by the predetermined rent that way my income is the same regardless of one of the students decided to move out early.

My opinion as subtribe who has not looked into wholesaling is wouldn't it depend on who you are marketing too? If your marketing too absentee landlord's wouldn't they be more likely to sell a property they haven't been able to re-rent so they don't need to worry about pipes bursting?

I'm currently working on that struggle with my fiancé. She has started to come around after I asked her to read Rich Dad Poor Dad. It's a process and it's slow going.

I'll about I'm a rookie and don't have experience in this matter(yet) but I don't think the $70 on day seven is to high of a rate. It's ten dollars a day wiping the record clean if it is there by the 5th.  Other wise he did make his payment on time in the previous month. When is his lease up?  If it is soon I would say work with him up until the end of the lease if he manages to pay in a reasonable time period every month. That way you keep a good tenant who may turn his situation around.

Correction making 200 after filters out repairs, Capex, vacancy, and management (however I am self managing)

I would say the 500 from a triplex could be fairly close if you buy it right. I recently bought a duplex that is only breaking even since I'm loving in one unit. But that frees up my budget and is a huge bonus.  So I may ask be making 600 since I'm not paying rent.