All Forum Posts by: Phil Petite

Quote from @Basit Siddiqi:

I would not add solar panels to a rental property, especially if the tenant is paying for the utilities.

The value of the home will not go up in pro-ration t o the price you paid for the solar panels.

I.E. if you pay $20,000 for solar panels, the value of the home will not go up by atleast $20,000.

best of luck.

Yes, I totally agree, Basit! Thank you for the post!

After doing some quick research, I realized that this was the case :)

Quote from @Jordan Ray:

Quote from @Phil Petite:

Quote from @Jordan Ray:

Quote from @Phil Petite:

Hello, BP Posters! :)

Does anyone install solar panels onto their rental properties? 

My tenants pay for their own utilities, and I own homes in Memphis, TN, but I was wondering if this was a solid strategy for tax benefits and energy conservation or to see if anyone else does this for their rentals. 

I wouldn't waste my money on that personally. It would destroy my return when it wasnt necessary to do that.

I looked into it a bit, and it is expensive, man!!!

I was wondering if the tax benefits outweighed the upfront cost, but it doesn't appear to be so.

I definitely would be impressed if you got solar panels though! haha 😂

Hahaha! I'll let you know if I do! 

Quote from @Jordan Ray:

Quote from @Phil Petite:

Hello, BP Posters! :)

Does anyone install solar panels onto their rental properties? 

My tenants pay for their own utilities, and I own homes in Memphis, TN, but I was wondering if this was a solid strategy for tax benefits and energy conservation or to see if anyone else does this for their rentals. 

I wouldn't waste my money on that personally. It would destroy my return when it wasnt necessary to do that.

I looked into it a bit, and it is expensive, man!!!

I was wondering if the tax benefits outweighed the upfront cost, but it doesn't appear to be so.

Hello, BP Posters! :)

Does anyone install solar panels onto their rental properties? 

My tenants pay for their own utilities, and I own homes in Memphis, TN, but I was wondering if this was a solid strategy for tax benefits and energy conservation or to see if anyone else does this for their rentals. 

Quote from @Daniel Salva:

I am considering Bold Deals. Any feedback would be great.

I haven't yet started using Bolt Deals, Daniel, but I will certainly let you know if and when I do! :)

I'm strongly considering it at the moment, and I might end up starting on their service by the end of this week or early next week.

Quote from @David Krulac:

we have been to the site where there was a house sold at an online auction while also online.  The highest bidder did not get the house and they decided not to sell that day; very disappointing 

Thanks for sharing, David!

The more reading that I do about the subject, the more that I hear that your experience is a common one with online auctions. It sounds pretty frustrating, honestly.

Quote from @Jonathan Bock:

They can be fun but also time wasters as well I have only personally bought off auction.com 

Jonathan - do you have any tips on how to get started? Where can I do research? 

Also, what pitfalls are there to watch out for?

Hi BP!

Does anyone have experience in buying houses from online auctions? I have seen some solid deals at online auction sites, but I am not sure how to get started. I invest in Memphis, TN, and I've checked several of the sites (Hubzu, Williams, Realty.com, etc).

Is there a site that you'd recommend using? What amount of due diligence can I have done before I buy (and how do I go about it)? Any advice would be great, thanks in advance! :)

- Phil

Hi Everyone,

I'd like stronger and a larger amount of leads, so I have been searching and came across BoltDeals. It seems like a great platform (they call the sellers and vet the leads for you, then transfer the call so that you can try to work on acquiring the property). It is really expensive though, but I'd like to try it, because it is really tough finding good deals right now, especially in Memphis, which is where I invest.

Any feedback would be great! Thank you, BP!

- Phil

Quote from @Sam Nichols:

Thanks all for the advice!  I found a new PM (Advantage Property Management) and am excited to start working with them, so far so great :D

Glad you found a PM company that fits your needs, Sam! Please let me know how APM is, I had been leaning towards using them for one of my properties :)