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All Forum Posts by: Mike Rennhack

Mike Rennhack has started 4 posts and replied 4 times.

Post: No damage deposit

Mike RennhackPosted
  • Bothell, WA
  • Posts 4
  • Votes 0
I just bought a property, 2 houses, both with existing tenants. There was never any damage deposit in the old lease. Should I charge a damage deposit or continue status quo? Not sure how to enact a new damage deposit, tenants have been there at least 2 plus years

Post: 2 homes on 1 parcel

Mike RennhackPosted
  • Bothell, WA
  • Posts 4
  • Votes 0
I just received a counter offer for a property with 2 homes on 1 parcel.... Of 221k ... 1 house is 3 bed 2 bath rents for $1250 mo. Second house is detached and rents for $ 900 month include garage....seller claims cap rate of 9... I'm Thinking 7, I don't see maintenance accounted for or much vacancy accounted for...thoughts?

Post: Self directed IRA

Mike RennhackPosted
  • Bothell, WA
  • Posts 4
  • Votes 0
Anyone have any info on self directed IRA? I have an IRA with 200 k in it and I'm considering using to purchase rental property....thanks

Hello Bigger Pockets Nation, Mike here, a new guy to Real Estate investing with a potential "deal". 2 homes on 1 lot, asking 225k. Rents are $ 800 and $900 monthly....there is a detached garage that maybe I could rent? It's zoned multi use, so there are other options to?

Any thoughts? Thanks!!