All Forum Posts by: Katrina P.

okay sounds good. That's exactly what we're doing...upgrading old carpet. Wouldn't necessarily want the tenants to move, but I'll consider if they ask. Thanks so much!

@Penny Clark Thanks for the input!  But actually, I don't know if I plan to really increase rents, as it's a very low income area.  At most, I'd raise it $15.  So I don't know if telling them that will work because they'll for sure know how much the new rent price is, then they may say, well, I"ll pay the extra for the new flooring!  We'll see..need to think through it a bit.

LOL!  Yea, that's a good one! Thanks!!

Hi guys!

So on one of my multi-families, I'm starting to upgrade the apartments on turnovers.  I'm seeing that as soon as you do something to one apartment, everyone thinks you're supposed to do it on theirs.  What do you do?

Katrina

I did "home buying" or however it's worded.

Cheers!

Midwest is definitely the place to achieve 2% or more. Like Dawn mentioned above, that's also where I make my money. In MI, I often achieve 3.5% - 4.5%. The most I've gotten was 7%. My most recent was a purchase for $11k, and I put in $10k....I rent it for $785. These numbers are possible in parts of MI (not Detroit), OH and IN. It's possible...just have to search.

I haven't looked at your links, but that's happened to me before. What I found out was the list price on the MLS was the same price the auction had as an "end this auction now" price. So if you offer list, you'll automatically win the auction.

I've used them for acquisition. Very high interest, but paying off a property in 5 years is worth it to me. Also, you could purchase with them, and maybe refi soon after. I am pondering that idea for a very near future purchase. Hey, it works...any method to get the deal closed as long as the numbers still work. That's my philosophy. 

Cheers!

Hey @Tom Mole ...Spoke with the inspector...it isn't a liability issue.  He just doesn't want to possibly be exposed to any bed bugs.  The place has been treated, preventatively, on a regular basis since the heat treatment years ago.  And the agent even forwarded me the latest receipt from the latest treatment from the company, certifying that there were no bugs.  But hey, can't convince anyone to do what they don't want.  And like @David Dachtera said, at this point, I wouldn't want them to do it, because I wouldn't expect a thorough job.  So onto the next... And @Tom Mole , thank you for the suggestion to ask for a discount.  When should I do that?  I have tried once more to schedule an inspection, hoping this one works.  But should I go back to the seller now, and ask for a discount, even though I still plan to get an inspection?  Another thing is the previous buyer who walked, had an inspection done, paid $850, and offered to sell it to me for $700.  I told my agent no thanks....not interested in paying $700 for a second hand inspection.  Would rather go through and get my own done.  I thought that guy would sell it for maybe $100 since its useless to him at this point.  But whatever. lol  

Thanks, as always, everyone!  You're truly the best!

Thank you for all the input, as usual, guys!