All Forum Posts by: Kobey Heberling

Hi everyone, I just finished reading the managing rental properties book from BP and when it comes to pre screening tenants i'm a little lost. If for example, you are talking to a tenant on the phone about your property and you know they aren't suitable and decide not to move forward. 

1. How do you properly inform that person? Am i supposed to collect their address right of the bat and then send them a decision letter? 

2. Since it's a phone call, wouldn't it be pretty easy for a tenant to lie and say I discriminated against them because of x reason? How do I keep a record when it's all verbal communication?   

Hi everyone, I'm a new investor and planning to buy a house hack in PA. What and/ or where do you guys find your local laws when first buying? I'm looking for websites or other resources. 

Thanks

Hello everyone, after listening to one of the new BP podcasts episodes about co-living a SFH i got this idea. I live in PA where you can't have more than three unrelated people live in one dwelling so I think i found a work around. I used the BP calculator on a duplex that has three units in each side of it. Each unit on its own currently catches $900 and $950 and doesn't cash flow with the present numbers but if i rent each bedroom for $650 that would net me gross $3900 ($3250 if i live in one bedroom) each month or over 100% COC return (48% if i live in one of the units).

Has anyone actually done this? 

What are your thoughts?

Hi everyone, I'm 21 and looking to buy my first multi family in the coming months. The main issue, I've ran into is that I'm a bartender and make most of money from cash tips. I have about 20k saved up (to put towards a house). I was thinking I could temporialy find a good pay W2 job until I close on a house or potentiality use a hard money lender. 

What do you guys think? 

Will hard money lenders give me the same issues as a regular lender? 

How can i get into contact with them? 

I would like to connect and learn more about the market there. Also thoughts on investing there? Primarily looking at the multi family housing

Hello everyone, just to give some proper context about myself. I am currently serving in the National Guard, while also attending college at the same time. I was looking to move out of state and start a new life in a new city while house hacking in the spring/summer of 2022. Has anyone attended full time school, worked and house hacked all at the same time? Am i destined to overwork myself?  I would like the prospective  and/ or advice of people in similar situations here. I don't want to sacrifice one  for the other ideally. Thanks

Hi everyone, I'm looking to buy my first multi family in the coming months and have read all about cash flow, 1% and 50% rule. I am still wondering is it bad deal if i buy a duplex that covers most of the mortgage but not all of it? For example, the mortgage is $1000 and i can collect rent for $750, leaving me to pay the remaining $250 for the mortgage plus utilities. Ideally we all want positive cash flow but with house hacking, i feel like that will be harder to obtain also living in the property. 

I am looking for opinions for those of you who have come before me if y'all would do something like that. Thanks