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All Forum Posts by: Mohammad Sheatt

Mohammad Sheatt has started 14 posts and replied 57 times.

Post: How much debt do you have?

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
I own 8 SFR including my own house with 0 debt. All my rentals cash flow pretty good due to lack of mortgage payments. My philosophy is if I can pay cash for properties then I will get them if not I will wait. Taking a lot of debt in my opinion is a big risk even though you can grow your business quicker than waiting to buy with cash. I know every one situation is different but that is my investment philosophy

Post: Tenant pay water and garbage or not?

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
For SFH I think the tenant pays for all bills (gas, electric, water,trash) that is what I do with my SFH. In your situation if you want to make sure the tenant water the lawn and keep it in good condition then might want to count to pay for water

Post: Tenant not removing fridge from from porch

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
Hello One of my tenants has a fridge sitting on the front porch. The city sent me a notice that it has to be removed a while ago. I told the tenant to remove it. I got a second notice today that it has not been removed. I sent the tenant a note that if she does not remove it by tomorrow I will send someone to do it and add the cost to her rent. Can I do that ? Thx

Post: Tenant question

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19

The tenant meets my criteria. i was just wondering about his situation being a recent move in town if there is anything special to that situation I should know/ask about 

Post: Tenant question

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
Hello I have a newly rehabbed $995/mo 3bd 1.5 property ready for rent. A gentleman that just recently moved to town from D/C applied. He is here to start a new business and currently works at a restaurant making $45k/yr. his application is very good with a credit score 733 and previous yrs income of $75k-$100k. He otherwise would be a perfect tenant planning to stay in town for a couple of yes. Another guy who is moving to town and working with him on the business will move in and stay with him. What do experienced landlord think of this setup? What should I look for/ask ? Thanks

Post: Garbage disposer and humidity sensor

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
Hello Is a garbage disposer a good or bad idea in a rental SFR? Also anyone puts the bathroom fan on a humidity sensor so you can guarantee the fan is in when it needs to and rely on the tenant to turn it on? Thanks

Post: Appreciation or Cash Flow?

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
There are several factors in deciding what is the best for you personally. How long are you going to keep the property ? At what discount did you get the property? What are your goals? I personally think that cash flow is king. I buy properties at a discount, fix them and rent them and plan on keeping them for the next 20 plus years. I pay cash so my cash flow is high and I consider it profit ( whether Google agrees with that or not) I will give you an example. The last property I bought cost me total $40k (after rehab) it is in a C area with an "estimated" value of $70k. It cash flows $10k / year after expenses. Over 20 years I believe that will be more than any appreciation any other more expensive/better area property will do. Take an example my personal home. It is a $500k property in a very nice/upscale area. The appreciation it did over the last 9 years is minimal. The key is acquiring a lot of properties that your cash flow will be so much that it will supersede any appreciation on the long run.

Post: CASH FLOW BABY TELL ME ABOUT HOW MUCH YOU CASH

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19

I am on a much smaller scale but building my portfolio one house at a time. I have 4SFH that I paid cash $ 150k total (including rehab cost). My monthly net rent is $3350 so my return is about 26%. That return will not go down overtime since all properties are paid for 

Post: Help: Rehab contractor quote in Indianapolis Reasonable?

Mohammad SheattPosted
  • Investor
  • Mason, OH
  • Posts 61
  • Votes 19
For 800 sf the vinyl floor quote looks high even for material and labor. You need to break down to material vs labor. Are you buying the material or is it the contractor. My contractor just refinished hardwood floors for $1500 for about 700 sf. He is installing vinyl planks in another property for $450(labor only) for 3 room (about 700 sf)

@Adam A. @Nathan Waters if I decide to go with them do you thInk charging 2 mo instead of 1mo security deposit is reasonable ?

Thx