All Forum Posts by: Zach C.

Hi Everyone,

I have a few ideas in mind, but considering this is my first property, I figured I would ask more seasoned professionals for advice. I close on my first property a week from today (a triplex I am house hacking). I have one tenant I am inheriting that is a student at the local college that is a half mile away. She has no lease, no security deposit, and has not paid the current owner rent for the month of November. During walkthroughs I have seen that her unit is pretty untidy and she also has 2 cats that she has not paid a pet deposit for. My question is how to handle it when I close? I need the rent money to help fix the place up and finding tenants in December in Illinois does not seem like it will be a fast process. I appreciate any advice, thank you. 

Hi everyone,

I'm currently in the process of buying a Triplex to house hack. I'm inheriting two tenants and I was curious if anybody had any suggestions on what I must do. I know eventually I can raise rents and restructure things here and there, I'm just curious if there's anything that has to be done, inheriting tenants that already have leases. Appreciate
 the help.

Hello everyone,

I am in the process of closing on my first property (a Triplex I'm going to house hack) I purchased the property for $10K less than it was just appraised for and the place needs a lot of work ($25-30K) I only qualified for a commercial loan so the down payment will take away most of my savings. My question is how too finance rehabs creatively? I have thought of trying to get a line of credit from the bank, or talking to the appraiser for an ARV appraisal. Just curious if someone had other suggestions, thank you.

Maybe this was brought up already, too many posts for my ADD to handle, but if everyone's jobs are being automated, shouldn't that concern investors too? If people aren't working how do they afford rent?

Sounds like a plan to me. I will definitely be there. Thanks Jeremy!!

Still trying to break through and get that first deal. Working on a house hack as we speak.

Ramsey,

I appreciate the post, but I separated from the military a month ago and am now living in Illinois. My mother in law lives down there still, so the next time we go down there to visit I would love to buy you coffee and talk real estate, thanks again. 

Are there any specific questions you ask every time?

Thanks Jason, I will give that a try.

Hi Everybody,

Just a couple questions to throw out there to get past my own frustration on where to start or who to contact. When you guys/girls are analyzing properties in your market, where are you getting the information like the GRM, average CAP rates, etc. Is it from an agent, appraiser, broker? I won't live in my market for another month, so I have been trying to analyze the best I can from Trulia, Zillow, Realtor, just to get an idea and get better at the process. I appreciate any input.