All Forum Posts by: Maurice Rover

@Ashley Carter good info, I agree.

@Michael Weis make a offer or asked if he would consider selling the property. Show him you're interested taking it off his hands in A beneficial way.

@Dannon Moore is there a reason why you would sale it?

I've seen these realtor apps and it mostly a mixture of both. Any ideas.

@Evan Smeenge I know the feeling, I did the house hack back in 2016 but didn't realize it had a name at the time. All my co-workers were buying houses, so I thought it was time for me too. But what I saw was them getting a piece of property and paying a mortgage, at this time I didn't know how much becoming a home-owner would benefit you. Beside not having a landlord. And taking on a lot of responsibility. So I had to change it up a little, I start looking into what roles do a landlord play, do I have to buy a house with my loan or could I buy a building with it. They basically cost the same in many factors. I was just like you, where do I start, how do I start, is there someone that could teach me how. And everything came pointing back to me. I was going to be the one to have to start the process, teach myself and piggy back off others. First and most importantly find out if you are ready for homeownership, if your profile fits the criteria then following the next steps in the direction you're looking to go in. If you're looking to be a landlord or flipper or just an investor in real estate. Just remember It's so many ways to go with this. So now it's 2019 and my building is fully occupied and has positive Cash flows, it pays for itself and puts money back into possibly other investment. Which I'm currently looking for. But just like you, I fell back to where do I go from here. The only thing I came up with was repeat the process just on a higher level.

March of this year made my 2 year owner occupied for a 2 flat. Now mind you I brought a rehab 2 flat, because everything I saw had to have major work done to them. So why not go new was my thoughts. So that may be something to think about. I did my due diligence on how to operate as a landlord and what to expect. So, if you don't have a tenant lined up then you are flipping the whole operating costs. Such as gas, light, water/garage city fee's. Until you put someone in the unit. So the money part. You do have to factor in cost to operate and what you receive as income. For me my  unit is currently a section 8, so the income is consistent. And it takes cares the mortgage. I have cash savings since I don't play rent and a business credit card of 10,000 and home warranty on both units. So that helps on major cost repairs that apartment sometime run into. I'm the landscape man and maintenance man, don't forget that as well. I guess the responsibility is about the same as a new home owner..  you're just taking it a step further.well Good to luck to you and much success.