All Forum Posts by: Scott Weaner

We are close to closing on our first rental property, a duplex. I am now trying to get my "team" set up. (My real team is right here on BP, so helpful and educational, even entertaining!)

How do others feel about having a service contract in place for the HVAC system? The recommended company will charge $300/year for both units, which gives a Spring and Fall service. I think this seems reasonable, and feel it would be helpful, especially as 1 of the furnaces is older.

Thoughts?

Has anyone tried Intuit Sparkrent?

https://www.sparkrent.com/

If a tenant has Ebola, that tenant will be the one leaving, and not an eviction.

I am about to make some decisions about our first rental property. I have a possible tenant, but have concerns after looking at the credit report. This is a husband/wife, with the husband being the sole earner. he qualifies financially, and has nothing bad on his report. His wife, however, has a number of collection reports over the last 2-3 years. Most are for small amounts from CC debt, utility companies, etc.

How does one decide? I would like to contact the prior landlords. they have lived in apartments. Do I just call the rental office?

Thanks!

I wonder if there is some type of a metal lattice that could be attached. I will look into that.

We are close to purchasing a Duplex that is 40 years old. Each unit is 2 stories, and it has metal railings on the stairs. The rungs are about 6 inches apart, which we feel is dangerous for small children. 

Apart from complete replacement, does anyone have any suggestions for retrofitting?

Far from being annoying, this is one of the most entertaining thread I have read recently. When it looked like the deal was falling through I was quite disappointed. I was happy when it was resurrected.

This could be an episode of a TV show on HGTV, complete with the built-in plot complication.

We are about to buy or first investment property. I can get a mortgage rate of either 4.375% with 0 points, or 4.125% with 1 point. My calculations show me a break even time of about 5 years. We have plans to keep the property for longer than this assuming everything goes reasonably according to plan.

So, should I go for the lower rate?

Thanks for the replies. I guess that I really have not thought past the first couple of properties. I could probably use the HELOC for the first 4 properties, then possibly use some of the equity in the new properties. It seems like I need to try to get more than $100/door to make it more doable.

I do hope that someone can take a look at my plan and either validate it or shoot it down!