All Forum Posts by: Brian H.

I'd be interested in hearing what people have to offer on this as well.

So the only operating expense is the mortgage? 

I thought mortgage wasn't counted towards operating expenses when calculating cap rate? 

And it seems like you have not taken any other expenses into account here?  

Or am I getting this all backwards?

Also, max 20 years on commercial loans. I have one with a 5.75% rate right now, 15 year term though.

@Michael Gefvert

Thanks so much. Hadn't thought about the legal end in regards to that. I appreciate the heads up there as well!

@Thomas S.  @Dennis M.  @Bob B.

Thanks for the heads up on that. Was just curious.  He has been doing this for over 10 years with his 20+ year rental business and claims it has worked great for him but maybe he is just lucky I guess?   I thought it sounded a little nutty but was curious what others thought about it. I appreciate the honesty!

@Mike Dymski   He is very happy with it on his end. He doesn't have them fully manage, though.

I think I will just keep doing it all myself ;) I am fine with that at this point.

$110/month... for what? What type of property? SFH? Multi? If Multi, how many buildings/units? Square footage?

Hey folks. Hope everyone is well!

So, I was talking to someone today that has been a successful landlord for 20+ years. He was talking about a few of his multi-family setups where he has maybe a couple quadplexes or duplexes on one plot.  He will pick a tenant and offer them the opportunity for a little less rent each month in exchange for a little help from them. They are by no means a property manager. He may drop their rent by $100/ month or something.  He will ask them to collect rent from everyone (if they don't pay online) and drive it up to him where we are. His rentals are about an hour away. Mine are about 40 minutes.  He will also have them do their best to sort out any relational issues between tenants if they arise. Tenant 1 hates Tenant 3 because of blah blah blah. A mediator of sorts. He obviously will be involved if needed.  He said he has had pretty decent success with this.

Do any of you do anything like this? Is this just bonkers? Just curious what peoples' thoughts are on here.

Thank you all!

@Will Gaston

Fantastic. I hated to miss this but couldn't step away from work. I look forward to it!

@Jaysen Medhurst You use yours for heating as well? How low do temps get where you have these installed?

@Jaysen Medhurst Thanks for the response! Hoping to get some more in input here so I can see where multiple people stand on these. They sound nice for smaller rental units especially. None of mine are over 800 sqft.

Do any of you use the split heat/air ductless systems in rentals? I know they are maybe $2000/each here where I am looking to cover about 600 sqft. - 800sqft. I'd love to get rid of the baseboard because they are such a fire hazard and two of my eleven units have oil heat, so I'd love to drop that too and have it all uniform....

Suggestions? Thanks! :)