All Forum Posts by: Angela A.

With respect to tenant caliber and crime, within Raytown, Independence and Grandview, are there generally good areas vs bad areas (ex: east vs. west, north vs. south of a street/freeway) within each town or does it go block by block? Pockets of good vs. bad areas?

@Sid Leibowitz

Sid, tiny homes can be custom built like RV's. Construction, steel frame, wood frame, r-values,  etc. will vary depending on what the builder/occupant will specify and if they plan to use it alot on the road (as far as aerodynamics, weight, stability, etc.), I'm sure they would take that into consideration when it is built. 

I agree that the aesthetics of a tiny home vs. RV's is subjective. That's the beauty of it. Since some people will be attracted to RV's and others to the tiny home and since RV parks are ubiquitous and there's a scarcity of tiny home parks, it presents an opportunity for those who want to provide a community to accommodate them.  If there's a demand for the tiny home, there will be demand for a tiny home park and I think that the demographics that occupy a tiny home park vs an RV park will be different and will dictate the amenities that are available.

@Andrew Postell Yes, closing on time is a critical factor as is rates. Good communication and responsiveness with the LO also helps with a smooth transaction and preventing a void of the contract. 

@Harjeet Bhatti Thanks for the input!

@Jeff B.

Just talked to one credit union and they said they don't finance out of state properties, but the mortgage specialist said she'd find out if other credit unions in the area would do it. The credit union rates were a bit lower than with a bank. Yes, commercial loans are a whole new ball game if dealing with 5+ multi's.

@Sid Leibowitz

Off the top of my head, it seems the tiny homes tend to be built to be more energy efficient and have less impact on the environment. They are also more aesthetically pleasing. I think it caters to a different demographics. 

@Garrett Blanchard

I like your idea and I think it would be a good niche if you can get past all the government and zoning regulations and logistics. Based on what I see and read, it seems it would appeal to progressive millennials and perhaps people wanting to escape the rat race and live a more down-to-earth sustainable lifestyle.

Here's an article from California that might be of interest to you:

http://www.sacbee.com/news/local/article144843049....

@Jeff B.

Thanks for the response. I have been able to obtain a loan for rental properties from Wells Fargo and they said the maximum number of simultaneous loans would be 10.  I was wondering if credit unions have that limit and if their rates are typically better.  Yes, need to look out for the points charged. 

@Ralph R.

Ok, I know of Geritol, but not of Snuffy Smith (had to look it up), so you know where I stand. Anyways, nice to hear about your "rags to riches" story. I think leverage is a good idea and agree that having a balance between equity and leverage is a good idea at our ripening age. The questions I have is how does it work with buying the rental properties and then rolling it into a SDIRA? Also, how has your experience been with purchasing properties out of state with it not being turn-key? Do you purchase properties needing rehab and have a team do the work? 

Thanks to you and and Snuffy Smith for the encouragement. Sometimes cartoon characters have the best maxims.

@Dallas Trufyn

Congratulations on quitting your job at 48 and transitioning into REI. It seems to me that if you want to do BRRRR successfully and not get burned out, you have to do it fulltime, especially if you're doing it out of state or in your case, out of the country. I guess, theoretically, if you have a reliable team that's boots on the ground, you could do it part time, but it seems to be more theoretical than realistic.

The high cap rates would be ideal if you could use some of that to pay off property sooner like you said in 5 years or less. It seems like to me that if you can get equity in from the get go with a low entry point property needing rehab that cash flows well, you can pay it off sooner and increase your net worth and cash flow quicker allowing you to retire sooner. 

Thanks for the pep talk and the tips!