All Forum Posts by: Michael Wang

So I am getting a few leads for buy and hold rentals, but noticed that they are pretty old houses like prewar wood frame houses and some even more than 150 years old. My question to the great BP folks is: can these houses stand anther 30 years for my investment or should I avoid them because the age and problems come with it?

Awesome Ginina!

@Dan Falcon that is good.

Great job! How do you like about the area? It seems like there are some high crime neighborhoods. Since you are out of state, what do you do to for the safety of your renters and your properties?

Thanks for your comments guys.

thanks Jessica for insights

Thanks Jacob. Funny you mentioned Starbucks :) we just had our first store in town late last year. 

Hey guys,  based on your experience, what is the impact of a large apartment complex to the local rental market?

There is a new construction in my area of 200 apartments that will be completed in a few months. They will be leased out at the top range of my local rental market. The positive camp of my local investors are telling me it is going to transform the area because more people more business moving in will raise the house prices and rents, while the negative camp is saying that the complex will draw all the quality renters in my area so the house prices and rents will actually go down.

If you have come across something similar before, please can you comment what was the impact?

Thanks Peter. I will check zoning requirements and go from there. 

it is in a decent working class area with single families all around it. the upper lot is actually the bigger part of the property, so it probably makes more sense to build a house on it. how can I split it into two properties so that i can sell the upper lot?

hmm, also the driveway may an issue. right now it is a pretty narrow driveway between lower house and the neighbor house. I dont see any other path to the upper lot. The back is surrounded with woods and other houses on a different street.