All Forum Posts by: Ross Ellington

@Al Williamson Thanks for the feedback! I could see where offering extra storage could raise the rent. Appreciate the example.

@Kevin Haskins Thanks for the advice! You're def right about a quality tenant being worth their weight in gold. The goal is to have nothing but quality tenants. Wish me luck? :) Thanks again!

Hey guys, I have a question about the VA loan with a multifamily. I know that I have to live there one year to use the VA loan but what if all the units are occupied at the time of purchase. Is there a window for when I have to occupy a unit or does being fully occupied mean that property comes off the table? Please help! Thanks :)

@Kyle J. thanks so much for your response! I'm new to BP so I wasn't familiar with that and didn't know about that tool. I'll definitely be looking at that in a bit. Thanks again!

@Jonathan Makovsky Thanks for the feedback! Talking to a Property Manager is definitely a step I need to make, thanks for the reminder.

@Fred Heller Thanks for the help! MLS is one of the tools I've been using as well, thanks. I'd definitely like to stay in touch with you, I might be looking to buy a multifamily in the Houston area this year. Thanks again for your input!

@Account Closed Thanks for the advice! That's a good strategy, some upgrades go a long way. I appreciate it.

Hey @Al Williamson thanks so much for your feedback! But I'm new to this so I'm gonna have to ask questions :) What would be an example of a customization fee and what are some options you gave your tenants to customize the unit? Those are great ideas I just couldn't think of any examples off the top of my head. Looking forward to your response, thanks again for your help!

@Bryan N. Thanks for the input! I'll look into the other two, thanks again for the extra tools!

@Kevin Haskins Thanks for the feedback! Putting myself in their shoes will def help me determine more accurate rents. Thanks again!

@Steven Myers Thanks so much for your input! I'll add zillow and craigslist to the rotation. Thanks again.

@Peter MacKercher Thanks for the advice! I'll continue to monitor it. Thanks again.

@Tanner Savage Thanks buddy for the help, wish you the best of luck too!

Good evening everyone, I was wondering if any of you guys had an opinion on rentometer.com as a way of deciding rents? Also, what are some other ways you've found helpful in calculating rents? It's difficult to find that balance of not too high but not too low. Thanks in advance for the advice! 

Thanks @Elizabeth Colegrove for the input! It looks like it'll be a part of our investment plan as well :)

@Ryan Jackson Thanks for the heads up on the fee, I did not know about it until now. I assume that's coupled with the rest of the closing costs?

@Kirk Olson Yeah the DTI will play a role in it but the scenario is correct, no? I def. need to talk to a lender and will be doing that soon. A quarter of a percent is not bad, hopefully they still are competitive. Thanks again!