All Forum Posts by: Michael Johnson

@Scott Schultz

So much insight, thank you! You’ve given me a lot to think about and got me thinking of questions I’ll have for the builder/city for when I start digging deeper into this deal.

Hi Everyone,

I'm looking at buying an acre of land for under 5k that's only a few blocks away from the city hospital, school, its in a nice part of town and its in my hometown - only around 5000 people live here. I wanted to start looking into what it would cost to build 2-4 units on this parcel. I thought a good place to start is to ask the question on what is the most cost efficient building layout? side by sides townhomes? A 2 upper/2 lower unit build? What are some of the most important things to look into off the bat when doing a cost analysis? I have a few long term buy and hold properties but I've never looked into new builds and since this land is right behind the house where i grew up, I thought it was at least worth looking into what it would cost to build there are start doing some research. Any advice on where to start would be MUCH appreciated, thank you!

Hey Everyone, I'm looking at Orlando for doing my first STR as an OOS investor. I have a few LTRs and I am comfortable doing the deal analysis on those, however that is not the case for STRs. I would love to connect with anyone who has had success with STRs in Orlando. I specifically have questions on what's a realistic expectation for CoCr, cleaning fee, what do you contribute your Airbnb success to, best location in Orlando etc. Thank you in advance!

I am looking to buying a vacation home in Florida and use it as a STR while i'm not there. There are a lot of hot spots in Florida where there is good appreciation, rent growth and high tourism. I'd like a place that has good access to a variety of restaurants and is in close proximity to water. Any recommendations? Thank you in advance!

I am looking for a handyman in Milwaukee. I have a duplex in Uptown and need of someone to help with one off things at the property when they come up. I would appreciate any recommendations as well, thanks!

Regards, 

@Crystal Smith Great information, thank you! I've heard it can take from 30-60 days, depending how many times you fail the inspection, to go from the application to the tenant moving in. To your point, that is all lost income and not to mention you need to pay for any inspection past the 1st one (no clue how much section 8 inspections cost opposed to a normal inspection). I am in a mobility area, so that does help. 

I am showing my place today and Friday. If there are numerous section 8 tenants interested still, I'll have them fill out the application once I confirm they meet the minimum requirements. Do you set the inspection up after you choose a section 8 tenant or do you proactively do it? 

Thanks again for all your great advice/tips!

@David Avery You sly dog, you. Sounds like a win! 

@Tom Casey Thanks for the information. It looks like I'd be maxed out at $1980 for my 4 bedroom. Lets connect, I'd like to learn more about your rehab experience. I intend to update my units over time so it would be great to see how your building turned out! 

@Nathan Gesner Thanks for checking back in. It seems like there are two camps on how to approach this. After a lot of different conversations I ended up feeling like the higher probability of him leaving, in this particular instance, was through talking to him and trying to work it out between us two. I'll find out shortly if I made the right decision. If not, i'll have to start the eviction process and likely take a very unfortunate loss right after closing on this property.

@Dmitriy Fomichenko thank you, sir !

@Jonathan Klemm it’s in Rogers Park