All Forum Posts by: Bill Goodland

@Nick Peraino not sure if you can require it because what if they want to hire a service? I would just include it in the lease that it needs to be taken care of and maybe be specific like, if grass is greater than 6 inches at any time, tenant is in violation of their lease or something. Talk to your lawyer.

@Derrick Barker how many development deals have you done before? Or do you have a partner that does?

@Aurelia Pearson I’ve had good success with Facebook marketplace. I’ve had people inquire about my apartment right after posting a status about losing their jobs. Use Cozy to verify credit and background checks and then call all references.

@Cliff Sands are you sure that your personal income will qualify you for a loan that large? I’m all for low money down but make sure you either have the cash or the cash flow to get you through tough times including long vacancy

@Zachary Giles the way I look at it is that real estate debt is the cost of doing business and it's actually paid by your tenants. What should really concern you is your rate of return, or COC compared to the rate you're currently paying on your debt. Pay off or refinance your high interest debt over 10%. Anything 7 or below I would start investing as your rate of return should be significantly higher. Obviously buy good deals, have cash reserves and understand paying off debt is risk free whereas REI is not

@Antonio Cucciniello yeah, I currently househack a triplex in the suburbs of Allentown, PA. You could go get a duplex in Newark if you can find one in a decent enough area but if you’re looking to get rid of your rent expense near NYC you’re going to have to compromise somewhere

@Antonio Cucciniello if you can stand to live with roommates I think you're best off finding an undervalued SFH that just needs some paint and flooring and renting out bedrooms. If you can find one with a separate entrance for your bedroom above a garage or as an in law suite even better. I'd look for subburbs bear public transit into the city. If you can find a duplex great, but I think you're going to pay a small fortune for it. May be tough to find but I think you could probably find a 4 or 5 bedroom house for under 450 that commutable distance into the city and make it work for a year

@Stone Jin I mean ghosts and haunted stuff isn't real. There's absolutely no evidence to it and most "supernatural" stuff actually ends up having an explanation such as wind making an old house make noises. Either man up and realize the place is fine, or market it as a haunted STR for enthusiasts to stay at

@Christian Hutchinson so never rent to a law student? Got it

@Chelsea Wallace yeah exactly, when there’s a dozen other units all available in the same rental denominated neighborhood, some cosmetic updates may provide a great return bringing your rent from $800 to $900, but near the top of the rental price point, location is what matters most to people in my opinion because there’s just such low inventory that your money would be better spent on the next investment as long as everything is clean and operable