All Forum Posts by: Satyam Mistry

@Joe Splitrock Hello Joe, great question and perspective! I am interested to know your answer for your question. What are a couple of the biggest realizations you had in real estate or changes you made in the way you thought about and ran your rental portfolio? Thank you. 

@Leonid Sapronov Hello Leonid, installing LVP is a great option for rentals and worth the money when holding as it is very durable, easy to clean, and also looks high end. I would rule out option 3 as the existing laminate looks fine and is in good shape as you mentioned. Doing a nice carpet in the basement and upper levels would be significantly lower in price than doing a good quality LVP. Check out other listings in this price range and see what finishes they are doing for bedrooms and basements. Many homes in A class neighborhoods still do carpet in bedrooms and basements so this is not uncommon. You are updating the paint to a very popular color in agreeable gray so that will give the home a modern touch and new carpet that compliments that will still look very nice. After laying down the new carpet put a protective carpet runner in the rooms and over the stairs as it is a cheap way to let the buyers know and feel that the carpet is new and gives the home that same  updated feel. Best wishes.

@Nathan Gesner That is great collection rate on that many units considering the spike in unemployment over the last few months. I am curious to know what class neighborhood was most heavily affected by non collection of rent as I would assume it would be the lower income C/D class areas that got hit the hardest.

Nearly all the posts I have read on BP have had great collection rates during this pandemic. I think this ties back to the strength of this community and all the resources that help aid investors during uncertain times.

@Anthony Gayden Hello Anthony, haha good to know you received it. I just sent a 1 page document out to a few other buyers and investors in the area just in case they come across something that may fit what I’m looking for. I know you are an active in Omaha so just wanted to send it as an introduction. 

@Kenneth Garrett Appreciate the input Kenneth. I am on a similar path that you have described and am seeing the same scenarios where turnover is usually the most time consuming activity outside of a rehab. My question is would you at some point consider bringing in someone to manage in house or would you prefer a PM company and if so why this route rather than in house?

@Whitney Hutten Thanks for your response Whitney. I have a similar question for you, would you consider at some point bringing in a PM position in house rather than third party? If you are very happy with your current PM it may not be worth bringing in house until you hit a certain number of units? Curious on your thoughts on this.

@Kris Mann Haha, very nicely done! You have done your research! Best wishes. 

@Jaysen Medhurst Thank you for your reply Jaysen. Yes, I realized shortly after posting that I made a silly mistake in calculating the principle as a saving when even if I was to keep the property financed I would be capturing that principle through rent. I decided to keep them financed. Appreciate it and best wishes.

@Dimitri Paspalaris Hello Dimitri, I have personally noticed that professional photos make a big difference and feel it is worth the price as they can be reused during turnovers and are usually a one time cost. In this day and age where everything is digital it is crucial to have quality images of your property to attract as many qualified tenants as you can. 

I would look for someone more in the range of $90-120 as $175 seems high especially for a smaller size home that would not need more than 20-25 pictures. Many photographers will charge by the square footage of the home or the total number of images needed. On my rental listings I only use about 10-15 of the images, but its good to have the others at the time of selling to show more detail. I would look for an amateur or student photographer in your area and show them references of the types of shots and quality you are looking for. Best wishes.

@Joe S. Hello Joe, I am primarily investing into real estate from another business venture I am involved in that I split my time with. I usually do 20% conventional financing, but have done cash a few times then financed out of it. I have setup relationships with secondary market contacts, commercial lenders, & have a LOC setup so it provides a variety of financing options depending on the particular situation. Best wishes.

@Brian Singh Primary areas are around Millard, West Dodge/Boys Town, Maple Village, & some parts of Bellevue. Looking for good areas where homes are around the $150k+ range.