All Forum Posts by: Michael Lenahan

Originally posted by @Joe P.:

https://www.biggerpockets.com/blog/ultimate-beginners-guide-real-estate-wholesaling

Thanks Joe.  I am looking for specifics.  Can you chat?

Team,

I'm trying to accomplish a 2019 goal of wholesaling one property.

I understand the concept of wholesaling and even bought a deal from one, but I've never been through the steps myself.

I would really appreciate if someone can walk me through the process.

If you raise your hand I will DM you.

Cheers!

Originally posted by @Dave DeMarinis:

I rent them in Ohio for $100/mo and a one bedroom is going for $595 at the same complex as a comparison. What is a 3/1 SFH (or whatever the benchmark property is) renting for if a stand alone garage brings $200-$250?

I also couldn't find any comps. Based on market acceptance, I think I'm about right with the $100 but maybe I'm low?

$100 seems about right for West Philadelphia.  Craig's List is a good source of information. 

Originally posted by @Donte Jones:

@Irfan Raza @Neal A. Never heard of renting out the garage until now, wow! Toilet/Shower?

Donte, we are referring to renting out a detached garage as a storage unit.

@Erin Wicomb thank you for sharing. How did you find the deal?

Can anyone share their experience with renting out the detached garage(s) that may come with a SFH purchase?

What are the things to consider before investing?  

I'm a buy and hold investor in West Philadelphia.

Thank you.

DO NOT use CashApp for business transactions.

Tenants can recall their payments, and CashApp will fish the money out of your bank account.  You have no recourse or say in the matter.

We just had an past tenant recall their May rent, we called CashApp and they told us to work it would with the tenant and they will be refunding the money in two days.

No doubt that others will catch on to this loop hole.

Anyone else have a similar experience?

Chris Engels is my main man.

Why don’t you use the BP calculators?

Time