All Forum Posts by: Karl B.

Yep. Happens all the time. It's part of the business as manners and consideration are somewhat rare. 

Once, I had three different prospective tenants and I scheduled them to arrive at the same time for a group showing and none showed up! 

Of course, I've had times where I've scheduled three prospective tenants and all of them showed up - there's no rhyme or reason. 

Open house-style group viewings are definitely the way to go. 

And as others have mentioned, call or text all potential renters an hour before the showing. Typically, some of them will cancel and/or ask for a different showing time. You'd think they'd call or text to let you know this but often, they don't do it unless you're proactive. 

I know a landlord who puts all apartment viewings in an Excell spreadsheet. When a tenant no-show contacts him, sometimes years later, for a viewing, he checks his spreadsheet and if they had been a no-show calls them out on it. :-D

If you're not using a PM, how effortless is the 4-unit to run? Have you had issues filling it, dealing with bad tenants, etc? 

And repairs?

Or has the property been a good, somewhat easy-to-run money-maker?

Consider these questions. If the 4-unit has been a pain, 1031 it. But if it's been good to you and you like its return numbers, consider keeping it. 

I have a 4-unit is from 1903. It's pretty amazing. The electrical was fine. Some plumbing was updated as part of the sales agreement. The bones are very good. It was a SFH that was turned into a 4-unit around the year 2000.

There was some leaking in the basement when it rained (literally every property I have purchased has had this issue because most landlords had slumlord PMs working for them) and I fixed that issue on my own using mortar (it costs under $2.50 a bag at Lowes). 

My newest property was built in 1917 - that had knob and tube - but not a lot of it. I paid $1900 to have it removed and replaced and to have some upgrades made (added some lights, moved some light switches, etc.). 

If you move forward, definitely get a good inspector in there as he'll point out what needs replaced and perhaps you can get the seller to pay for some/all the repairs. 

On my 1903 4-unit the seller paid for a lot of needed repairs/upgrades. 

Though old homes tend to have inferior windows. My newest property has some new windows but a few aren't very nice. One is definitely badly in need of repair (it seriously has paper towels stuffed in a crevice toward the top) and I'm paying $335 installed to have that window replaced (they had to special order it). 

I would definitely talk with a contractor. He'll likely make a recommendation once he sees where the pipes/plumbing are to keep costs down as well. 

A few photos are slightly blurry. A few are too dark. I use Photoscape to edit my photos (it's free) but you can use any decent photo editing software to crop and lighten photos so they're not too dark.

Not knowing your area, aside from that, the place looks nice and clean and well-kept. 

I would add (Spacious backyard with 10X20 shed) for extra storage of your things. 

I don't know what it is but the word STORAGE triggers something within a prospective tenant - they love it. 

 @Robert Freeborn Hi. It's located in NW PA. They were asking more but they ended up taking my cash offer roughly a month after I submitted. 

I just bought a duplex that's renting $1375 and paid $45K for it so anything can happen and your deal could be epic, but maybe not. 

What I 100% suggest if you decide to move forward (after going under contract) is HIRE A QUALITY INSPECTOR to do the inspection. 

I have saved THOUSANDS of dollars on every single property I've ever purchased (including my home) by receiving credits, negotiating a lower price, or by having the seller pay for repairs prior to closing. 

If all looks good with the report, pay the 24 K and enjoy your $1125.00 check every month. But if there are issues with the inspection, that's when you either walk away from the deal or if you choose, negotiate a lower purchase price. 

All my multi-family  properties were at least 50% occupied when I purchased them - all needed work to some degree. 

Let us know what happens!

Glad you're following through by going to the hearing so future landlords see the eviction when they run a credit report and don''t experience 'the manure farm' experience you had to go through. That is commendable.

I'm certain you'll likely be doing my next suggestion but take well-lit photos of the animal waste  for the judge to see - a picture is worth a thousand words... or in this case... turds. :-/

Knowing the city is expanding, which is good, it's all about the returns you can get. A good starting point is what are properties selling for and how much in rent are they typically getting?

She doesn't get it but luckily, you get it. Tell her you're the man with a plan and make it happen. You'll succeed with flying colors if you keep educating yourself VIA BP and you have drive and do what's right, and from your opening post, I believe you have both attributes. 

My first multi-family was a 4-unit and I believe it's a great-sized unit for a first deal, and as someone on BP once said, the jump from a 4-unit to a 20-unit isn't that much (judging you have mastered running the 4-unit).

I wish you the best, and although your significant other may never grasp real estate, you can be a great mate and provider by making it happen.