All Forum Posts by: Mark Douglas

Sure thing!

@Chris T.  thanks Chris, that makes sense.  I only have one duplex so far, but just trying to get some sort of mental plan going lol.  Would pulling out equity (cash out refi or heloc) have the same effect as selling and buying another property?

@Paul Brogan  Brandon & Heather Turner wrote a book on Landlording -->

https://get.biggerpockets.com/rentalbook/

The day to day isn't as much as it might seem. I would try and setup all bank accounts, entities (LLC, etc, if you're going that route) property management/accounting software, etc. before you rent it out, so you aren't scrambling to get everything organized.

Best,

-Mark

In a buy/hold portfolio, how often should/does one sell/1031 exchange properties?  Do investors tend to hold on to properties for more than 10 years?  Is there a right/wrong way to go about it?  I imagine some properties will perform better than others overtime..?

@Yoshi Hakone Shouldn't be an issue. The only change they would see is making the check payable to your LLC, rather than yourself.

@Account Closed  thanks for the info ! 

@Joseph England sign up to be a guest on the BP podcast :)  great story, wishing you more continued success.

I'm looking to do a cash-out refi in the next few months (still rehabbing, about to rent out), and I'm wondering how the appraiser will get a value on the duplex. Are appraisals for MFR based on the rent coming in, or comparable properties in the area, like with SFR appraisals?

Also, how much consideration is there for the improvements that were made?  (vinyl flooring instead of carpet, new kitchen, etc.)  I'm not renovating much more than what's typical in the area (C, C+ area) but almost everything had been original from 1985, so it's updated quite a bit.

Thanks ! 

Dan Pezzano Continue to dive into the knowledge base here, but I'd caution you to hone in on a specific niche, to avoid working on 5 different strategies at once. Become an expert at whatever method you gel with the most (SFR, MFR, note investing, flipping, wholesaling, etc.) and hammer away at it until you reach your goals. Best, Mark

I'd suggest a gradual rent increase in conjunction with cosmetic upgrades to the building, then rehabbing units (if needed) afterwards.