All Forum Posts by: Matthew Sperry

@Nick Belsky, thank you so much! 

Thanks for the tip! 

Hello! We have two properties in 2 different states and we want to put them and future rentals in an LLC. Can we register ONE LLC in ONE state in which we can put out-of-state properties or do we need an LLC in each state where we have properties?

Thanks! 

Hi! What do yall use for a contract with private lenders? Is that something you create with the title company or something we can find online and have notarized or otherwise? thanks! 

View report

First time! Open to insights. Thanks!

*This link comes directly from our calculators, based off on information input by the member who posted.

Does anyone here have experience with rental properties in Mahoning County? Looking for insights to the areas south of Youngstown.

Looking at a condo in an area where there’s a 2/2 for rent at $1400.

The condo I am interested in is a 2/1. What would I expect the rent to be, assuming $1400 is accurate for a 2/2?

@Andy Bailey

I’ll find out the sqft today when I take a look at the house. Their ad just says 3,000 sqft total. I’m guessing around 1,800 for the primary residence, but we may have to replace floors in both apartments as well.

Yes we would go with a basic L kitchen. Likely new floors, new counters, and appliances.

 Thanks for the reply Eugene! We are considering exploring a 203k rehab loan. However, I haven't dealt with one before and I'm unfamiliar with the process to get approved. I've done some minor research, but that's about it. I'm curious to know if the kitchen that needs to be removed makes the house not "move-in ready". I don't think it causes a safety hazard, it's just that the upper half of the house is no longer approved as a rental so there's no point in having an upstairs kitchen.

Thanks again,

Matt

Looking for advice. Will be looking at this property tomorrow. Definitely needs new flooring, total interior paint job, probably new appliances. There is also a kitchen in the upstairs of the primary unit that has to be removed. The upstairs was used as an apartment but is no longer approved by the county. I've never done a renovation, so $25,000 is a shot in the dark.

We would be using the VA loan to purchase this property and my wife and I would live in the primary residence for at least a year. So the rent in the report will actually be my family living there.

Apartment A and B would rent for approximately $900/ea.
Primary residence would rent for approximately $1700 if we were not living there.

Thanks in advance! 

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*This link comes directly from our calculators, based on information input by the member who posted.