All Forum Posts by: Taylor West

Now renting to students, do you have the house fully, partially, or not furnished at all?  Do you have each parent or at least one parent of the kids for a co-signer too?

Thanks @Kelly N. Good information. So you only do 9-10 month leases since those students are not there during the summer or do you make the lease 12 months and they just eat the time their not there in the summer?

Thanks Steve.  I found a duplex in the university area, so now I am wondering about moving into one side and renting out the other.  Both sides are a 3/3.5 

I am curious to know how people feel about renting to college students?  That is, a 2/2 or 3/2 at least.  The house is close to the university (and there are a hand full in the same neighborhood/street that are for sale).  

Pro's and con's or just con's?

Thanks Greg. My construction guy and I had a civil debate about it after we looked at the house and he made the point 'don't fix it if it isn't broken.' We agreed to leave it out of the cost only because it was not priority (?).  But I am positive if someone had come in from the deal, it would have been redone.  Thanks again.  

My question is in regards to factoring in the cost to upgrade a new bathroom even if the bathroom has the basic of basic necessities?? For example, I looked to wholesale a house a few weeks ago and the bathrooms were the bare minimum (if I was looking at the same house to rent (be a tenant) and the rest of the house was fine except the bathroom, I would have walked away). As a wholesaler, should I factor into my ARV a newer, not the best, bathroom cost since my buyer will use it as a rental income?

And if I sell the agreement to a flipper, should I add/adjust the cost too?  That is, only for the bathroom we are talking about. 

Bathroom remodel: sink, toilet, shower/tub, mirror with storage behind. 

My question is in regards to factoring in the cost to upgrade a new bathroom even if the bathroom has the basic of basic necessities?? For example, I looked to wholesale a house a few weeks ago and the bathrooms were the bare minimum (if I was looking at the same house to rent (be a tenant) and the rest of the house was fine except the bathroom, I would have walked away). As a wholesaler, should I factor into my ARV a newer, not the best, bathroom cost since my buyer will use it as a rental income?

And if I sell the agreement to a flipper, should I add/adjust the cost too?  That is, only for the bathroom we are talking about. 

Bathroom remodel: sink, toilet, shower/tub, mirror with storage behind. 

Rich Dad trainers and/or mentors will call MSL's 'retail' meaning, they are not investor friendly numbers. So MAO offers are maximum, but not all sellers will accept the offer making wholesale successes far and few between, but sweet when a deal is found.

At the very least, if you make an offer with the owner/agent and no one else wants the property, you may just get that phone call when the owner has had enough.

I do not know if this is an option, but if you go the lawyer route, have your lawyer send the claims company that is calling you a letter or speak to them directly.  I have been a part of a situation where a claims company was harassing my girlfriend, but stopped calling after the lawyer was involved.  The situation also included no evidence or written agreement, etc. 

I am sure you know this too, but a lawyer may charge for writing the letter so walking in may be the best first option for you.  Then a letter. 

I added gutters to the rehab cost...that is my rough estimate has labor factored in, but my true estimate is only factoring in parts and materials, not labor as of yet.