All Forum Posts by: Robert Pfenninger

I recently talked with a reputable contractor who is selling five duplexes he built in late 2015/ early 2016. They are well built, solid brick exterior, and stained concrete floor. (Very renter friendly). He is offering them for $255,000 and says they are currently renting out at $1350/month with rent going up approximately $50 every turnover. He has two duplexes with one door vacant. I am in a hot market with an incredible school system, an expanding highway, and tons of franchises set to roll in when the highway is finished. I would like to purchase one of the units and house hack it but I am not yet in a position to lock down financing. Instead, I asked him if he would be willing to give me a lease option on one unit. We haven't worked out details yet but he said he would have to increase the price since it is likely the property will appreciate consistently as properties here have in the past 10/15 years. I would take over the current leases and property management and recycle the cash flow into savings in preparation to get approved for a loan. Capex should be low since it is new construction. Obviously I would have to accept a value for the duplex that I believe would appraise out and I do believe I could be in position to secure financing within one to two years. Exit strategy being wait until the option period is over and not renew my lease while hopefully the cash flow I would have gained would offset the option fee that I would lose. Thoughts?

Got it Dmitriy! Thank you! and thank you Gen!

Thank you Steve and Dmitriy! Dmitriy that information has been very helpful! However I still have yet to figure out the voting thing in the forums. Can anyone fill me in?

oh yea! I wanted to talk to you cause I overheard you saying something about real estate classes at MCC which is where I will be working on my RE license next semester. I'm currently playing with a few ideas and options but I had really planned on getting aggressive in about a year when I am in a better position to negotiate but if a deal comes my way now I will certainly take a swing. Will I see you at the next meetup?

Thank you Chris! Semper Fi!

Thank you James. I look forward to hearing your podcast! It shouldn't take long to get there at the rate I have been listening to them!

Howdy BP! As the subject implies I am a Marine Corps veteran from Waco, Texas. I am currently working as a Correctional Officer and using my G.I. Bill to work on my real estate license while searching for a small multifamily property to house hack. I enjoy spending time with my family, fishing, and seeking self improvement. Feel free to hit me up for coffee or lunch if you are in the Waco area and want to talk real estate!