All Forum Posts by: Stephanie W.

We needed cash flow fast, to pay our bills, since my husband 'medicalled out' of his airline flying career. We had enough money in savings to buy five rental properties in two years and so we paid cash for all of them (almost, but that's another post). We now cash flow more than enough to pay our bills, put the appropriate amount in reserve for each property and even to replenish our savings. Should I be thinking now about using some of the equity ($500,000+) we have to continue to grow or is this 15% return we're getting on our savings plenty good enough? I know the magic of leverage, but why would I go into debt and add to the stress/trouble if we're doing fine right now?

I use RenTech and I love it. It's inexpensive, it's online and very easy to setup. The main thing though is that support is the best out there. They actually answer their phones! They've called me even to make sure everything was running smoothly. I highly recommend it.

Another thing, Nathan, is that I don't know where you got your information that the rents are lower than market, but in that area, I was shocked the owners got THAT much. Probably Section 8, I'm guessing, but I also don't know how many bedrooms in each unit. Our Section 8 just got reduced the first of the year, so the rents you quoted would be high for a two bedroom in that area.

Unfortunately, Patterson Ave is considered one of the 'no no' areas in Roanoke. There are some gorgeous old homes on Patterson, but they have become so run down and infested with vermin of all sorts, we stay as far away from there as possible. I hate to put it so bluntly, but it is the home of Roanoke's crack community. There will come a time when some wealthy investor will take the torch and renovate the area, but right now no one is renting there that values their belongings, car or well being. There are many areas in Roanoke that are great for investors. I love it here and will be glad to share my knowledge and experience with you. You may contact me any time.

Hi, Nathan, I live in Roanoke and have five single fams and two duplexes. I would need to know what area this duplex is in to know whether or not you have a 'base hit'. I scour the market and have never found a duplex I would own for that price, so unless you got it off the MLS I might be concerned about the area. Is it in SE or NW?

I would rent a generator, or let them use mine, until a good electrician was able to fix the problem.