ilmscore | I got 100+ rental applications on this house I purchased for $17,500

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
The speaker has reduced the cost of high-efficiency furnace installations from $2,500 to approximately $1,200 by purchasing wholesale.
"I'm really big on tearing out old furnaces and putting in brand new ones. We actually buy our furnaces wholesale so most landlords I talked to you they spend about twenty five hundred dollars going from any low efficiency furnace to high efficiency furnace and I've got my costs down to about twelve hundred bucks or so."
Furnace Upgrades
Pending
The speaker prioritizes tenant savings on energy bills, viewing it as a benefit to their own rental income.
"I would prefer my tenants pay me rather than the gas company so that's kind of one of the things we do."
Real Estate Investment Strategy
Pending
High demand for housing is indicated by the rapid interest and application rate for a property listed for rent in Ohio, with significant foot traffic within a few hours of opening.
"I opened up the house officially at one o'clock this afternoon and it is a little past 5:00 so that's how much is the housing is in demand right now."
Housing Demand in Ohio
Pending
The speaker is intentionally underpricing a four-bedroom, one-bathroom house at $575/month in a rougher neighborhood to attract and retain quality tenants, despite its market value potentially being higher.
"we're only asking 575 a month this is a four bed one bath house terrible neighborhood but it's pretty big oh there's a furnace I guess they haven't sold it yet so my crew said they'd be out here tomorrow finishing stuff some stuff up so I guess they haven't put the furnace in but this is a 96.6% 60k BTU furnace there they're totally awesome we actually pulled this one out of the laundromat had a cracked heat exchanger Goodman actually just replaced it the heat exchanger force for $26 and that was it this countertop has one eye but it came with the house when I bought like the house it's got some cuts in it right over here but everything else carpet paint hot water he put a new hot water heater in we're putting this new furnace in and then everything else is kind of what it is we got some trash outside but I wanted to show you guys what $17,000 buys you in Ohio like I said five seventy-five a month that's what we'll get in rent that's probably actually lower than it's supposed to be but this is kind of a rougher neighborhood and I want to get decent tenants in here and I figure if I underpriced it maybe I can get people to stay in here longer"
Rental Pricing Strategy
Pending
The speaker generally avoids frequent rent increases for existing tenants, but will adjust rents when a unit becomes vacant.
"I'm not big alone raising rents on people but I do raise them when they become available"
Tenant Retention Strategy
Pending
A five-unit property, purchased for $35,000 with $15,000 invested, was cash-out refinanced for $124,000, generating significant profit.
"I bought it for 35 put 15 in it and weari cash out refinance that at one hundred and twenty four thousand dollars and there's five units in there and I make real good money"
Real Estate Investment Performance
Pending
The speaker is installing Wyze cameras on all their properties, believing this is contributing to positive changes in the neighborhood.
"I'm trying to fix it up if you can see right there that little white thing there that is a wise camera we'll put we are putting cameras on all of our houses and it is we're seeing some really good changes in the neighborhood"
Neighborhood Improvement
Pending