 My next house / $15K (by Roy [AL]) Jun 19, 2018 4:15 AM
 My next house / $15K (by S i d [MO]) Jun 19, 2018 4:43 AM
My next house / $15K (by Deanna [TX]) Jun 19, 2018 5:04 AM
My next house / $15K (by Vee [OH]) Jun 19, 2018 5:23 AM
My next house / $15K (by Jeffrey [VA]) Jun 19, 2018 5:46 AM
My next house / $15K (by Mickie [OH]) Jun 19, 2018 6:20 AM
My next house / $15K (by Roy [AL]) Jun 19, 2018 7:11 AM
My next house / $15K (by Robert J [CA]) Jun 19, 2018 8:34 AM
My next house / $15K (by Roy [AL]) Jun 19, 2018 8:59 AM
My next house / $15K (by Dave [MO]) Jun 19, 2018 9:14 AM
My next house / $15K (by Ken [NY]) Jun 19, 2018 10:42 AM
My next house / $15K (by Roy [AL]) Jun 19, 2018 11:30 AM
My next house / $15K (by Ken [NY]) Jun 19, 2018 12:05 PM
My next house / $15K (by GKARL [PA]) Jun 19, 2018 3:25 PM
My next house / $15K (by GKARL [PA]) Jun 19, 2018 3:42 PM
My next house / $15K (by BRAD 20,000 [IN]) Jun 19, 2018 10:52 PM
My next house / $15K (by Roy [AL]) Jun 20, 2018 4:22 AM
My next house / $15K (by Roy [AL]) Posted on: Jun 19, 2018 4:15 AM
Message:
In all of the years that I have used my Handyman Ad, this year my Ad has produced more great prospects than any other. I am not sure why but I am not complaining. I have now located my next house purchase which will cost me $15K and not $5K. Under certain circumstances, I will pay more than $5K for a house and this one is a great example of this.
Reasons to pay more than $5K:
1. The last person to live in the house was the owner and not a tenant. (These rare houses are not trashed and are in near rent ready condition).
2. House has a functioning Central Heat/Air system with a modern 200 amp service panel. (big plus).
3. House is located in the path of new Commercial Development (bigger plus).
4. This house in particular has a 600 sq.ft detached garage apartment that is in almost rent ready condition.
This will be my first 'multi-unit' which will be a new learning experience for me. Hopefully, I will be able to overcome my fear of multi-units with this property.
Seller here was asking $35K. I low-balled at $15K. The following day she called and accepted my 1st and only offer . Closing will be in 3 weeks.
--68.63.xxx.xx |
My next house / $15K (by S i d [MO]) Posted on: Jun 19, 2018 4:43 AM
Message:
Nice work, Roy! You've inspired me to try the Handyman Ad again.... Maybe it's the season.
This is really exciting! --173.19.x.xxx |
My next house / $15K (by Deanna [TX]) Posted on: Jun 19, 2018 5:04 AM
Message:
Happy for you!
Anything that's almost-rent-ready is a great change of pace! :) And getting a twofer is really fun, too... twice the units, but half the taxes! :P
I have two garage apartments. One of them, the main house is being used as a storage house for the foreseeable future, so that one's pretty straightforward. For the other one, though, parking has been a surprising challenge.
It has three spaces of off-street parking in front of the garage apartment. One of them, the one closer to the house, is covered. The other two are in front of the garage bays, and so were left uncovered. And it's a corner lot, so there's also additional on-street parking on two sides.
We tell every prospect, "Parking is first-come first-served." And everyone's like, "Cool! No problem!"
But in reality, it turns into--
"So-and-so hasn't moved their car from the carport in three weeks!" (Um, no. Three days, yes. Three weeks, no.)
"I pay more! I should be able to park under the carport whenever I want to!"
"I've been here longer! I should be able to park under the covered spot whenever I want to!"
"You're not taking this issue seriously! This is my notice!" (That's nice. You're not the tenant. I need to hear it from her, thank you.)
Anyhow, if you have one of those situations where they have two totally separate parking areas-- like, the garage apartment's parking spot is off the alley, and the main house has a separate driveway off the street-- then that's terrific. But you might preemptively give them dedicated parking otherwise, and head off a lot of headaches.
I had expected the yard care/yard use to be the dividing issue--- but comparatively few of my garage apartment tenants have had any desire to live the lawn-chairs-and-barbecue-grill lifestyle. --96.46.xxx.xx |
My next house / $15K (by Vee [OH]) Posted on: Jun 19, 2018 5:23 AM
Message:
This sounds fantastic, 2 for 1 - the water may be tricky so try and get old bills so you can build the water into the rent unless it is already divided - a big bonus... --76.188.xxx.xx |
My next house / $15K (by Jeffrey [VA]) Posted on: Jun 19, 2018 5:46 AM
Message:
Congrats Roy, I hope you are keeping all these notes of wisdom and taking detailed notes of all your experiences. This would all make parts of that book you had talked/joked about writing which would also be a great legacy that many others could benefit from. --72.214.xx.xxx |
My next house / $15K (by Mickie [OH]) Posted on: Jun 19, 2018 6:20 AM
Message:
Very nice. I have to save up some more moohla before I can run an ad. I suspect people selling has high & low volume times of season similar to moving high & low volume times of year. --199.253.xxx.xx |
My next house / $15K (by Roy [AL]) Posted on: Jun 19, 2018 7:11 AM
Message:
Jeffrey,
How do I find time to write a book when I am too busy (and having fun too) doing what I am doing? I may need what is called a 'ghost writer',..LOL. The book titled "Perpetual Income" is probably how my future book will read. His 'game plan' is almost identical to what I do. Buy dirt cheap (even at $15K), rehab and rent them out for double digit returns you will not find in any other investment that I know of. Maybe selling dope on the street corner has better profits but doing time in the gray bar motel has never appealed to me. --68.63.xxx.xx |
My next house / $15K (by Robert J [CA]) Posted on: Jun 19, 2018 8:34 AM
Message:
My last house I purchased cost me $335,000. And the last house I sold, I got $580,000. This is Los Angeles, California where things are different. Also the last three homes I had over 25 years that needed a complete upgrade, cost me on average $70,000, and doing most of the work myself.
I a jealous that I can't find a home under $250,000... --47.156.xx.xx |
My next house / $15K (by Roy [AL]) Posted on: Jun 19, 2018 8:59 AM
Message:
Robert J,
If you can't find a home for less than $250K, you are not looking in the same neighborhoods I am,..even in CA. I would suggest you leave the high priced city houses and start driving towards the desert. Every U.S. city has the type houses I lust after,...you just have to know where to look for them. --68.63.xxx.xx |
My next house / $15K (by Dave [MO]) Posted on: Jun 19, 2018 9:14 AM
Message:
Congrats to you! --108.243.xxx.xx |
My next house / $15K (by Ken [NY]) Posted on: Jun 19, 2018 10:42 AM
Message:
Congratulations Roy,main difference with a 2 family is you will have to listen to grown adults cry like 5 year olds about each other,just keep collecting the rent and all will be good.If you didn't want to keep this one what could you resell it for?close to the $35000 the seller was asking? that is why I keep my ads going all the time --72.231.xxx.xxx |
My next house / $15K (by Roy [AL]) Posted on: Jun 19, 2018 11:30 AM
Message:
Ken,
One issue I have with multi-units is I will have 2 or more unrelated tenants sharing one driveway. There is room for 2 cars where the garage apartment is but only 1 narrow driveway to get there. I see an argument among tenants coming and I hope I don't have to play referee.
Also, there is only 1 water meter for both the main house and the garage apartment. I guess I will be paying the water bill for both tenants and billing them for it.
If everything goes as planned, I should get $600.00 for the main house and $400.00 for the garage apartment. $1000.00/month is something I have never received from just one rental property. I am looking forward to it. --68.63.xxx.xx |
My next house / $15K (by Ken [NY]) Posted on: Jun 19, 2018 12:05 PM
Message:
Yes,you will be paying the water bill so what I do is I have my guy go check for running water whenever he goes for maintenance,i have the toilet flappers changed at least yearly even if they are not bad.I would remove an exterior water spigot so they don't wash there cars or use water outside.I would add a $50 monthly charge for someone moving in with them in your lease since someone moving in will cost you more on the water bill --72.231.xxx.xxx |
My next house / $15K (by GKARL [PA]) Posted on: Jun 19, 2018 3:25 PM
Message:
Congratulations Roy. It sounds like not much is shared other than the driveway. As long as they're not sharing walls, conflicts should be minimal. In the MFH set up, separate residences and side by side works better than up and down. --172.58.xxx.xxx |
My next house / $15K (by GKARL [PA]) Posted on: Jun 19, 2018 3:42 PM
Message:
I have to echo Robert about expensive houses. It would be tough to find a ready to rent $15,000 duplex in my area. Most of those around here are $ 120k+. In some instances, the additional cost is offset by the increased rent. For example, there are no SFH that will rent for $ 600; it's usually double that. I rent a single room for more than that monthly. The single biggest difference between the East coast, the West coast and the rest of the country is population density which affects everything. I also think other areas have far more price stability though. There are no huge run-ups in real estate prices so there's all less downside in the event of a market reversal. --172.58.xxx.xxx |
My next house / $15K (by BRAD 20,000 [IN]) Posted on: Jun 19, 2018 10:52 PM
Message:
Go Roy GO!
This sounds like an anti-handyman special! Just sign the papers and rent it!
BRAD --68.50.xxx.xxx |
My next house / $15K (by Roy [AL]) Posted on: Jun 20, 2018 4:22 AM
Message:
Brad20K,
Most former owner-occupied houses that I get have carpet in every room and this one has it too. I will make an attempt to steam clean the carpet but it may get removed and Allure added. I think the former owner-occupant had a dog in there.
The garage apartment will need some handyman work. (Of course, it has always been a rental).
GKARL - I realize $15K units may not exist in CA or in your neck of the woods. However, if I ran my Handyman Ad in the LA TIMES newspaper, I could guarantee you (and Robert J) that I could flush out some 'motivated sellers' that would blow your mind(s)! I know that I could find sellers who may want $250,000 for their house, but will accept $100,000 cash today for it. Maybe even less. These type sellers exist in every U.S. city and it is my Handyman Ad that gets them to call me instead of me trying to find them. --68.63.xxx.xx |
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