All Forum Posts by: Michael Plante

I saw a great home for a good price that has everything i want except it is right next door to a horse training facility and 400 feet from a large stable.  Anyone m is how far the smell will drift and how bad it will be?   Surprisingly I could not find any definitive data.  There is very specific info and ordinances on farms with cows and livestock, horses just anecdotal tidbits like it’s not as bad as cattle

financial freedom is achieved when you have enough double tax free Muni bonds in your portfolio that generate enough return to

live the lifestyle you desire.. thats true financial freedom  rentals while nice are still work and still have a fair amount of risk depending on where you purchase..  so you do need to stay very engaged in the rental bizz .  buying high quality assets does mitigate that. 

Depends on your goals and objectives.

In the beginning, when I self-managed my SFR rentals, I would take calls until 10 pm (on occasion but odd how it happens at the worst time - e.g. pipe burst in rental as I was preparing valentine's dinner for my wife).

Now, with over 1000+ units, there are 3 levels of managers/organization to handle tenant issues. Don't worry, other type of "issues" will replace the tenant issues ;-)

I keep here you guys talking about commercial lenders not looking at personal finances just the property but why does all the lenders I'm talking to want my personal finances and a personal guarantee on the loan? The property I'm buying is an off market deal with a gross rent of $3,065/month (which is below market) with a cap rate of 12.2% and a net profit of $1,000/month (figured using the Bigger pockets calculator). The purchase price is $175,000 and I'll put 20% down. (I haven't been able to find a lender that will do 10% down) This is the first time I have had to obtain a commercial loan and don't completely understand how this all works.

@Sylvia B. and @Michael Plante

We have never received a 3AM call on any of our SFHs.  Our properties are in A neighborhoods, since you asked.  

But I have read posts of others who reported with MFHs stating "more tenants under one roof tends to spawn more issues" where they have described issues occurring in the middle of the night.  Essentially, one person's experience does not a rule make.  These days, I don't discount any potential tenant issue.

I would also note that you should not get a call from a SFH owner complaining that the tenant on the other side of the wall/ceiling is causing a disturbance, making a mess, or having a domestic dispute if you are renting to a single person.

Once you get more than one tenant/family under a single roof, this now comes into play.  That was my point.