All Forum Posts by: Westin Hudnall

@dawn

I'm confused how the neighbors can bug you? If they call can't you just ignore the call? 

Maybe your saying they find every opportunity to turn you into the home owners association?

@Dawn Anastasi 

I had/have the same concern Dawn. The business guy in me though says so what and boo hoo to the neighbors. My wanting to create a successful business is greater than my want to satisfy neighbors who don't pay my rent. I would feel differently if I felt he was a bad guy but I don't. 

Maybe I'm off pace --- that's why I'm asking for advice :)

Nice couple ; good work history ; no pets ; plenty of money ; but prior sex offender case 10 years ago (17 year old with a 15 year old)

Possible long term tenant :

Let me know your thoughts

@Roy N. 

Did your renters do much in terms of damages?

I showed them the property tonight so I haven't performed checks. What site do you use for checks?

@Kimberly H. 

Here's the update :

They want the place. Nice couple with 2 kids and no pets. Makes 3.5 - 4 X rent on average. Don't care about us replacing any worn carpet. Deffinately not clean freaks ; would be nicer if they were but they are not (however they are very nice and friendly)

Would you rent to them?

@Kimberly H. 

You make a great point about mainly attracting dirty clients showing a dirty place.  However - I dont mind doing a few showings and am hoping a result will turn our differently for 2 reasons :

1 - My rent is $1400/month so mainly only higher end tenants will apply.

2 - We have decided to replace all upstairs carpet with nice laminate so hopefully we can find a potential client that can see what it will be and not what it is.

I will keep everyone updated on how it goes ! 

(Ive had it go both ways before; Ive had someone move in before construction was done and is one of my best tenants (makes over 100k/yr ; upgrades the property and pays 2 weeks in advance each month; Ive also had A NUMBER of potential clients never call back)

how do your numbers look if you put in a "worst case scenario" number for cap ex?

3% is only $1500/yr for a $50,000 property. You may need to atleast double that

I think if you have to question a deal this much its best moving on --- there's always another deal to find just around the corner if you look hard enough

have you tried running your numbers to get your CAP rate ; cash on cash ; etc through the spreadsheets under the analyze and resources tab on the top right of the bigger pockets page ?

@Jimmy Davis 

Purchasing in this way is new to me . Have you ever done this ? Can you tell me a little more about it ?

What are the positives and the negatives about purchasing in this way?

@Steven Potter 

How do I find this information online?

@Ned Carey 

Platt book is probably what I was referring to