All Forum Posts by: Mason Hickman

@Edith Alvarado de Cortez

Sorry to use the same response again but it is so location specific. A mile in New York City can mean huge difference and a mile in rural areas means no difference at all. Where is the property located?

@Edith Alvarado de Cortez

It really depends on the area. In some locations, it could be a good comp and in other locations it will be entirely different. It’s best to tag what location it is in and maybe a local realtor to that area can weigh in.

@Marco Morkous

It's not used too often because it makes the house less desirable to buyers, but it is basically a contingency for the seller to find a suitable replacement home ranging from 30-60 days. 

@Richard McGaughey

Your money will definitely get you more on the south shore. Rather than trying to direct mail people, you may want to consider searching for For Rent by Owner apartment listings in small multifamily buildings. Getting somebody who has a vacancy and is tired from the business could give you a chance to pick it up for below market value and they can save on Realtor fees rather than listing. Timing is key.

@Joshua Robinson

Leverage up!

@Steven Paul

It sounds like you need to narrow your criteria to a few markets so you can manage the analysis. How many markets are you trying to analyze and how'd you decide on those markets?

@Zaid Badabwan

I encourage my tenants to work it out between themselves the way typical neighbors would. If they are uncomfortable with that, they can call the police. You're not the babysitter. 

@Joshua Robinson

Very cool story! Can you live happily off of the cash flow that the rentals are throwing off or are you yearning for more? If you're happy with the income, while you won't be optimizing your returns because of all the equity in the properties, you've already made it to the "finish line." I'm sure there will be a bunch of people who come on and say you need to leverage up in order to get better returns on your equity but there's something to be said for having peace of mind without debt.

@Michael DeRienzo

Owner occupying a multi-family would be my suggestion. What area are you looking to purchase in? You shouldn't use all $30K for down payment, so you have some reserves. To have $10K left in cash, you're looking at a max purchase price of ~$550k assuming you can get FHA without many repairs needed.

@Maryann L.

That’s great! Did you purchase or negotiate the purchase for someone else?