All Forum Posts by: Taylor Harrison

I have a Potential 3 unit buy. Will be my first! Water not split on separate meters.

3 units. Efficiency will remain without hook ups. 

The 2 bedroom ( down stairs) has washer and dryer included. Should I be concerned that the one bed room ( upstairs) does not have w/d or w/d hookups. How much will this affect my ability to get tenants and is installing hook up a good option to consider?

Thanks! 

Yeah Jane it is not in the nicest neighborhood but it is not terrible.  I would feel comfortable with the area.  The tenants in place seem to be excellent. The property is clean and tenants seem to take a sense of pride in their home.  AC are all window units.... Roof is new as of last year. I am not seeing any glaring issues.  I may put some $$ into the vacant unit right away.

Thank for your feedback!!

Thank Guys!

Water and Trash are paid by landlord. $129/mo. Taxes $1600/ yr. Insurance $1500/yr. Gas and electric are metered separately. Rent on these units is below that of comps in the area.   I visited a couple banks today, yes 20-25 is required down and lending $35,000-38,000 is not an issue. @jessewaters what are some creative funding possibilities I should look into? Also how can I share a spread sheet with you all?

Sent out early.... Sorry.

Cont. property qualifies for 2% rule. My calculated ROI 12.99%. Water and trash are paid by landlord. $129/mo. I could easily cash flow $100/ door.

Thoughts, concerns, advice?

Thanks BP

Hello. Looking at my first multi- unit. Here how it breaks down. 

Asking $52,000. 

3 units.  Two bedroom- $475/ mo. 1 bed $400/mo. Efficiency $200/mo. Rent=$1075 Those are current rents. Efficiency and 2 bed have long term tenants currently occupied. 1 bed upper level is vacant.  

Hey Thanks a lot for the welcome guys. I look forward to using this great resource and getting started on the Journey!  As I set up my screening criteria one thing I am finding is that finding properties that meet the "2% rule" is difficult in the specific area I am looking. I have reached out to a local agent with good experience in single family and multi units.. I will continue my search.

Thanks!!

I'm from Dixon il, a rural community. I am new to this. Have looked at a couple properties and want to invest in either a 2 or 3 unit property with option of living in.  As a first investment would I be better off living in as my primary for a year to get the wheels rolling and gain experience? 

Thanks All, glad to be a part of the BP Community!