All Forum Posts by: Tommy Kerwick Jr.

Hey BP community! 

I'm wondering if anyone has had any experience with either owning or building multiple ADU's/cabins on a single property in the state of Vermont. I understand that you have to apply for state permits for septics, but wondering how many you can install/build on a single property.

Thanks!

What kind of systems do you use for tracking expenses/bills for each of your properties? How are you systematizing properties to keep track of all expenses, taxes, profit and loss, etc?

My wife and I are up to 4 properties, 1 of them being a triplex and have been keeping track of everything ourselves in separate spreadsheets and folders but it’s becoming too much and I know there are better systems out there for organizing.

Does anyone use Quicken? If so which Quicken programs do you use? If not Quicken, what do you use?

Thanks! Looking forward to your input.

What kind of systems do you use for tracking expenses/bills for each of your properties? How are you systematizing properties to keep track of all expenses, taxes, profit and loss, etc?

My wife and I are up to 4 properties, 1 of them being a triplex and have been keeping track of everything ourselves in separate spreadsheets and folders but it’s becoming too much and I know there are better systems out there for organizing.

Does anyone use Quicken? If so which Quicken programs do you use? If not Quicken, what do you use?

Thanks!

Hey everyone. I just recently added a triplex to my portfolio which is going to be a BRRRR...down on the Jersey shore, and it's going to need a 100% renovation, from top to bottom. It's in a town that's on the rise so I'm banking on appreciation as much as I'm banking on CASH FLOW! Being that it's not my own home that I'll be living in, I don't want to over do it, but I want to make it so tennant will choose my apt's over any others on the market. I want to do what's most efficient and cost effective for the long haul since this is strictly a buy and hold property.

This is not the first full reno that my wife and I have done, but it is the first multi family home we’ve purchased. As it sits right now, there’s 1 apt downstairs and 2 upstairs.

In a project like this, I want to search for the most cost effective and most efficient ways of fully remodeling across the board in fully redoing each of the 3 apt’s. The great thing is that everything will be brand new. But what to go with? Spray or regular insulation? Redo the baseboard heat throughout, or add forced air+AC units for each apt? Just do heat and let them add window unit AC’s? Would you spend the money on tankless boiler/water heaters? What type of floors do you go with for longevity? What types of counter tops? Since each apt only has 1 bathroom, should they all have tubs?

What products do you use and where do you shop for all of YOUR rental property needs? Are there things you’ve added in units that have attracted tenants specifically to your apt’s? EVERYTHING will be brand new and redone so obviously I’m looking in every direction on where to save $$.

Looking forward to hearing all of your thoughts!

Hey everyone. I just recently added a triplex to the portfolio on the Jersey Shore and it needs a 100% full renovation. It’s in a town that’s on the rise so I’m banking on appreciation as much as I’m banking on CASH FLOW! Being that it’s not my own home that I’ll be living in, I don’t want to “over do it”, but want to do what’s most effective and efficient for the long haul since this is strictly a buy and hold property.

This is not the first full reno that my wife and I have done but it is the first multi family home we’ve purchased. As it sits right now, there’s 1 apartment downstairs and 2 apt’s upstairs.

In a project like this, I want to know what is the most cost effective and efficient way of remodeling across the board in fully redoing each apartment. The great thing is that everything will be brand new. But what to go with? What Insulation, spray or regular? Redo the baseboard heat or strip it all and do combo forced hot air+AC for each unit? Would you spend the money to do a tankless hot water heater for each unit? What type of floors do you go with for the long run? What type of counter tops? What products do you use and where do you shop for all of YOUR rental property reno’s?

Thanks everyone. Really looking forward to your input.

So I was trying to find a category specifically dedicated to “owner financing” but couldn’t find it.

Who out there has any suggestions as to how to go about putting in an offer/speaking to the owner of a property you know is going to hit the market soon but hasn’t yet?

The house next to my family member is going to be hitting the market soon. The owner knows that I have interest in the property but we’ve yet to talk one on one. Any info has gone through my family member who lives next door. The elderly couple has recently passed away and the brother (who lives in Tennessee) of the woman has taken over the property.

I’d like to approach him with a seller financing deal but want to have everything in order before doing so. The home needs a lot of attention but could work out to be a great deal if bought at the right price.

How long of a term?

What interest rate?

How much of a down payment?

Any and all information from anyone who has successfully gone through this would be greatly appreciated.

Thanks @Eric P. for the graph and for your input. It all makes sense. Buying in more affordable areas that will give you the most year round. Naturally I am looking to expand my STR portfolio while simultaneously creating one with multi-family, out of state. Would be interested in talking with you since your goals seem to be similar.

Hey @Ryan Swan,thanks for the info and input. I sent you a direct message. Would like to dig a bit deeper into the Scottsdale market and discuss future plans. Thanks. 

I’ll definitely check out Scottsdale as I’ve heard it can be a great rental area. How are prices? What have you been seeing for your rentals there and who do you mainly cater to? @Account Closed

Hey @Rhonda Blue, sounds like you’re on a roll! How is the Alabama market as a whole? Are there areas that people frequent/vacation more than others? What kind of area is Pigeon Forge, Gatlinburg?