All Forum Posts by: Philip Williams

Sure @Kathia L. @Ben Leybovich  I can list some numbers here and I actually invest in a very economically depressed area so I don't own a building that doesn't meet the 2% rule in fact a few hit the 3% rule. One of the properties I mentioned in this thread is a four unit building. It consists of four one bedroom units. The building is fully rented out and the rents are 425 425 425 and 440. All the tenants have been there over 2.5 years the longest having been there 5 years. None of the tenants have pets and there is only one smoker, who only smokes on the patio and his unit smells great! The building is in great shape as the former owner did all the work himself as he was a licensed contractor and had owned the building for 15 years and lived next door to this property and across the street from another be are purchasing. The purchase price is 67500 which falls about into the 2.5% range and other questions you have please let me know as we aren't all that far away. 

Yes it certainly is! One reason we are moving out to the area at the moment is we don't have children yet. We plan to in the next couple years but for now we can concentrate solely on the business and not have to worry about school districts and things like that at the moment. I've never had any aspirations of being a property manager except for my own properties, but i'm sure from posting on here other out of the area investors who are interested may approach me to help them with there property!

Rockford sorry I didn't specify. If you need any help in that area please let me know. We will have 20 units in Rockford in the next five weeks we are actually moving to the area to manage and grow our portfolio.

Hey Tim how are you? So I have never personally built a 4plex or anything for that matter. We have however looked into it and in our market it just doesn't make sense. I'm not sure how your market it but unless it's incredibly hot you should be able to find something for sale that makes more sense. It may not be your ideal 4 unit perhaps but there are a lot of options that should be cheaper!

lol this has gotten way out of control! 

@Ben Leybovich Well bringing amusement to your life could be seen as helpful lol? No dirt on me I'm squeaky clean haha except for us hijacking this thread.....

@Ben Leybovich lol as you may have noticed worry and trepidation are not exactly things that come up in my everyday life. Seriously though if my experiences can help myself or others in the community I'm all for it. 

@Jerry W. Well in that case I'm sure I would have so say a few nice things back lol! 

lmao shots fired!  For anyone that can't tell ben is joking well except for the talented part of course! I'm just hoping I don't have to write a blog in rebuttal to @Ben Leybovich slanderous post lol! It's not true whatever he says ;-)

Ok I usually don't comment more than once but I really feel I have to....@Arlan Potter @David Boykin why should she invest close to home? I know some of the arguments may be well she's more familiar with the market. Well unless she is a real estate agent that has already dealt extensively within her own market she really has no better idea of what her market is than one far away. Second argument well she can keep an eye on her property? Granted this one has some validity but that's nothing a property manager can't do. Third argument well she can save the money on using property management. This is true but as a first time investor as it sounds who is to even say that she would be a better property manager than one she could hire? @Alex Applebee No offense intended of course just trying to debunk the invest close to home theory. I think she or anyone should invest where they can find a deal that is worthwhile, it it happens to be close to home well even better. We are all though in this game to make money and not every area offer adequate price to rent ratios. If by chance she lived in LA where it has been completely documented the prices don't justify the rents, she would lose money every month. She would however possibly recover in the appreciation game which is purely speculative and nothing a beginner should go into lightly if at all.