All Forum Posts by: Mareno Rathell

@Michael Henry. We are self managing from a leasing standpoint. We advertise, research prospective tenants. In the duplexes we give one of the tenants a $50/month reduction in rent to cut grass, shovel snow and police the common areas. For the condo there is no need to work about shoveling and grass cutting.

@Matt Nusbaum. Thanks Matt, we are trying to make the right moves from the beginning but it’s a tricky road to maneuver. I’m hoping this forum can help keep us on the right road.

Hello everyone, My wife and I are new to investing in rentals. Our first property was a duplex for $35k with new electricals, new garage, new driveway, new fencing and recent roof. We put an additional $5k into it (I did the work myself).

We interviewed our prospective tenants 18 months ago and we still have our original tenants. They pay $700/m each ($1400 total) and always pay on time.

We just picked up another duplex ($31k) last week with a long term renter (10 years) in one unit paying $600/m and the upper unit vacant but just renovated.

We will be closing on a three bedroom/ 2 1/2 bath condo this week for $14.5k with the expectation of putting about $1500 into it (new paint and carpet). The condo fees are $203 and we already have a renter lined up for $950/m.

Our plan is to acquire two more duplexes by spring.

We would love to purchase four family rentals but they are running about $30k per unit ($120k total) @ $500/m per unit on average. Doesn’t seem to offer a good return. We are currently staying about $15k per unit on average with $700/m being realized from each unit.

My wife and I are new to investing in rentals. Our first property was a duplex for $35k with new electricals, new garage, new driveway, new fencing and recent roof. We put an additional $5k into it (I did the work myself).

We interviewed our prospective tenants 18 months ago and we still have our original tenants. They pay $700/m each ($1400 total) and always pay on time.

We just picked up another duplex ($31k) last week with a long term renter (10 years) in one unit paying $600/m and the upper unit vacant but just renovated.

We will be closing on a three bedroom/ 2 1/2 bath condo this week for $14.5k with the expectation of putting about $1500 into it (new paint and carpet). The condo fees are $203 and we already have a renter lined up for $950/m.