All Forum Posts by: Nathan Platter

I was going to add something, but @Thomas S. / @Greg H. / @Nicole A. pretty much said all of your options.

1. Renew lease agreement OR
2. Keep them as Month-to-month OR
3. Give 30 day notice and get new renters

I vote #3 since you mentioned you're fed up with the late rent problems.

Hi @David Hald ,

I combine (acquisition) Price with the Rehab amount into the Total Purchase Price when running calcs. Unless the calcualtors take into account (Rehab Cost/ARV), simply combined AP+R for your purchase price, especially since HML's often limit their loans based on the percent of ARV (which already combines AP+R)

Looking forward to your first deal!

@Burt Gourley, the person all my friends go to is @Kim Burke She does these refi's all day long and the options get even better when (1) they're owned free and clear, and (2) you currently have renters in them.

Keep up the great work!

Hi @Jenny Pour ,

Could you please clarify if you are advertising a service, training, or access to something of value? I'm honestly unable to determine if you are offering access to a program or are venting about a bad experience you had after spending $20k on a program.

Hi Sharon,

@Mark Hart's  team over at Reedy has a phenomenal PM system in place.

Hi @Gary A.,

You could also go to Craigslist and put a job up there as well. Someone with very few skills would gladly do the job for less than WeGoLook's rates.

Hi @Eric Rottenberg ,

Unless you can show the seller intentionally hid the lease was ending January 1st, you may be out $810 on this one. One of the aspects of Rental Due Diligence is double checking the existing Lease Agreements and making sure you know the amounts and timelines on when the leases are done.

At least you'll know what to check for the next time around.

Hi @Chris Marshall ,

You should also factor in the cost of vacancy, property management, and large expenses (roof, furnace replacement,...) If you can collect 130% of your monthly bills in rent ($900 x 1.3) then I'd say proceed.

$900/month sounds like a bit for the more rural market you're in (judging from Google Maps), but you can always put it on Craigslist and see how much action you get.

Hi @Will Diepholz ,

Welcome to the Forums, glad to have another Twin Cities investor on here!

Hi @Scott Osborn ,

Congratulations on taking action! That's often where REI's get stuck because they do everything pre-deal but seldom do a deal.

What 'channel' did you use to find/offer/close on your 4plex? Brokers, PM's, BP, Zillow,...?