All Forum Posts by: Ryan Kinsella

@Thomas L. I went to school out there for undergrad and graduated in 2006 so I know the area and the numbers are much better than what we see in PHX.  I have a couple properties there but its really just an excuse to get back and see some college buddies every once in a while.

Hey guys, I have a triplex in Lafayette that will be going on the MLS probably next week. I have my realtor showing it to another investor this Saturday if any of you would like to take a look. I've put a TON of money into it. It has 2ea 4 bedroom units on the bottom and a 3 bed up above. Rents all in are $2,300, tenants cover all utilities except water.

@Deana Johnson not a bad idea just sort of a trial run to see if we can get someone interested.

Hello Everyone,

I have a triplex in Indiana near a major college that was in rough shape but I have been remodeling as tenants move out.  We have done two out of 3 and the 3rd just moved out this month so an update has started.  Current renters pay $870, $650 and the 3rd that just moved out was paying $700.  After updating it should rent out at $870 (mirrored unit as the other that is at $870).

I've enjoyed bringing this complex back to life and have a couple other options to do the same to others but would need to dump this one in order to do so.  

I've seen mixed feelings of selling when people do or do not want to inherit tenants so I was looking for some opinions on the following:

  - Sell now figuring remodel will be done upon closing allowing the new owner to pick tenant

  - Wait to sell until renter is in place and advertise as a "turn key with renters in place"

The complex has been professionally managed and I'm thinking sale price would be about $220k.

Thanks!

@Account Closed I have a triplex and a single family in Lafayette.  Numbers are great but I'm having some issues with vacancy at the moment.  The market is getting somewhat competitive.  I had an offer in on a SF a couple weeks ago and found out I was one of 13 that had an offer in.

@Harjeet Bhatti  Thanks for the response!

Hello everyone.  I'm looking for some ideas on financing.  These properties are near a major college in Indiana.  Here is the situation:

- Property #1- This is a large 3 unit complex.

- Unit 1- 4 bed 1.5 bath rents $700

-Unit 2- 4 bed 1.5 bath (remodeled) rents $925

Unit 3- 2 bed 1 bath rents $595

This property is owned and not currently financed. Purchased for $102k and have put about $20k into it. I would like to get it under a 30 year and pull $$$ from this to purchase more. I guess this is what you would call a BRRRR. Can anyone get higher than 75% LTV on a 3 unit?

- Property #2- This one is a 3 bed 1 bath single family

- currently rented for $700

This property is also owned outright and not financed.  It was purchased as a steal for $37k.  I'm guessing it should be worth around $50k.  The problem I'm running into with this one is most banks will not finance something that small.  

Any ideas?  I appreciate your feedback

@Amanda M Laird if you are the GC, get the materials, and line up subs what service is he providing?

Go with a 40 yard.  You are going to need a few of them.

I agree with @Laura Janosko