All Forum Posts by: Account Closed

Technically it NEVER approaches zero. it may approach 2 or 3 percent maybe even 1% in the short term however unlikely, but zero is physically impossible. Similarly  0% repairs is also physically impossible. so it never approaches zero in any circumstance.

Regardless of how you approach it. telling people that  is dangerous to others. And if someone didnt to the "analyzing" that you criticize and simply purchased a property focusing on rent/cost that would be a sure fire way to end up in bankruptcy.

there are plenty of houses out there, even in my area which you can by with a great "cost/rent" ratio, they are still TERRIBLE deals. There are houses in my area on the MLS for under $10k all the time, doesn't make them a good investment. And to say that repairs approach Zero, is simply false. I don't need to reference the substantial amount of information there is out there, and on this site alone, to point out how blatantly false that is.

Mark, nice to know other BP members are in the area. that sounds like pretty good rent you'd be getting there, what part of Omaha might I ask?

@Arlan Potter   @J Scott 

"Originally posted by @Arlan Potter:
Vacancy 0%. Over time the percentage approaches zero. Most tenants stay long term.

Repairs. 0%. Over time it also approaches zero. Most of my rentals require no repairs each year. "Originally posted by @Arlan Potter:

Most focus too much on the negatives, and analyzing deals to death, and never buy any rentals."

............ this is the most backwards advice i think ive seen yet. 

Vacancy approaches zero over time!!!??? repair costs over time approach 0% over time!!!!?????

and you say people analyze too much? LOL!

can someone please direct me to the tenents who live forever, oh yeah and i will need a house that repairs itself please.

 @Wendell De Guzman 

obviously no one got my joke..... :( 

thats alright.... ill be here all night folks! Thank you!

I have 1 rental and normally ask for first month rent ($830) plus a deposit ($500).

seems like renters just move out after the lease is over and treat the deposit as part of their last months rent.... so i end up with actually no deposit so no leverage for excessive wear/damages.

I bought another SFR. I would like to ask for first and last months ( $700 +$700) rent plus a deposit ( $500 or so). is that too much to ask, thats nearly $2k upfront? what do landlords typically ask for?

my rentals are middle to lower working class but decent areas so i wouldnt think they could come up with that much money but..... if its the norm....?

@Eric M.   @Wayne Brooks   @Rey Perez 

Hey guys I got an email from this guy who is the The director of the Prize Award Department at the Nigeria Public Lottery. You wont believe this but its actually true, I WON!! he said I won a million dollars! we chatted over Skype and he said it was confirmed!

but he said due to transfer fees he needed to send a check for $1.5 million and needed me to just foward back the other $500k minus the transfer fees. 

Anyone have any good recommendations on how i go about getting my big pile of cash? oh and how long it typically takes would be helpful.

I figured this is the perfect place to post this question

Thanks! ;)

Hi Tiffany, 

I live in Omaha. im closing on my first ( non-landlord by default) SFR today actually.

sorry cant help with the hard money lender question, I heard in a podcast that BP has a list state by state of them though.

just a bump to keep topic alive. 

closing on my first ( non-landlord by default) SFR tomorrow, looking for ideas like these....

Curious what people are paying for insurance on their multi's.

I know it changes based on property/location. 

heres generally what i have been looking at;

example, 10 unit, brick  multi unit building, 3 story, in good condition that is generally fully occupied.   assume a purchase price of $300k and im looking for market value insurance, not replacement cost.

what range would you anticipate seeing insurance costs come in at?

10k is over 20%. 

20% is normally what is required to get a normal loan and you would get a lower interest rate over a longer term which means lower monthly required payments, although you likely would pay more its nice to not be required. 

I personally haven't done seller financing and have been a bit skeptical just due to allot of shady people out there who attempt it. 

is this an actual duplex or a single family home that somebody divided up? maybe post a pic of the front of the place