All Forum Posts by: Kurt Phillips

Welcome @Steven Duby to Columbus, Ohio.  I'm in a neighboring county but am connected to some fantastic folks that work in the Columbus market.  You will have the opportunity to network with top notch people on this site.  Congrats on starting out investing and especially house hacking!  My wife and I did the same thing out of college 14 years ago and it was without a doubt the smartest long term financial decision we ever made. 

I'm currently in contract for a 4-plex and going into it the buyer said he pays about $150 per month.  Well, we just got a quote for $3,800 a year (320 monthly) with a 10K deductible!  I just talked with a couple of landlords in the area and they informed me that the Federal Govt. has stated a cap of no more than a 25% increase per year but there is currently no cap as to how many years they can/will do that.

Is anyone familiar with this?  If so are you avoiding flood zones like the plague or just going for it if the deal seems worth it?  

That's a great point  

@JD Martin about the garbage disposals.  I currently only have one duplex that has garbage disposals in both sides that I've considered removing.  I recently had some friends, thank God not in one of my units, that put down a large left over bowl of spaghetti noodles down the garbage disposal and ground them up..  This equals:  very very bad idea!

@Account Closed I'll take a whole building full of people with no ambition to ever own a home but pay their rent and stay for 30 years each!  ; )  

Thanks for the responses everyone!  I did change the batteries and the filters without charging the tenants.  I pride myself of running properties in which the tenants have limited responsibilities, which justifies asking a little more in rent.  

Although I hear ya @Kaycee Miller.  That is a very interesting point of view that I will take into consideration.  Something similar went through my mind as I was purchasing said batteries and filters!

I've just recently taken over managing my properties from a property manager only to find smoke alarms chirping and no furnace filters changed out.....ever.  I replaced batteries and filters in 2 units but I'm sure the rest of them have not been replaced either.

My question: do you guys charge your tenants for filters and batteries or simply expect them to take care of it themselves?  Yeah right!  Or do you simply count it as the cost of doing business and eat it?

Welcome @Lisa Ruby!  You have definitely found the right place for more information just starting out.  Just soak everything up like a sponge and enjoy the ride.  The folks on this site are very willing to help and share their expertise so don't be afraid to ask any questions you have. 

What a great topic @Stefanie Jensen!  Thanks for being willing to post this on here because this is a struggle with, I venture to say, most couples.  You are certainly not alone in this frustration and I have a tremendous amount of respect for you already!

My wife and I took 10 years to finally "decide" to take our investing seriously and treat it like a business.  The main reason is that I wanted us to be in complete unity.  And when that happened its been lights out ever since.  

When your husband comes around to join you and/or simply gives his blessing wholeheartedly you will gain so much more fulfillment and likely go tons faster than pursuing this venture apart from him.  It sounds like you already know that.  Just keep learning, encouraging him, stay the process, and I'm sure you guys will make for a powerful team!

That is awesome @Amit G.!  Thanks for sharing this.  I know that it will inspire many new investors to be willing to jump into this game we call real estate.  And the pictures look fantastic, you did a great job!

Welcome @Charles Hawkins!  Are your 4 Airbnb's in the Columbus area?  How long have you been in central Ohio?

Welcome @Ryana Munford!  And welcome back to the wonderful state of O-H-I-O!