All Forum Posts by: Amber A.

Do you have a recommendation on a specific type of vinyl? I know there are waterproof/water resistant, etc. I'm interested in which product may hold up the best?

I've had a single family rental for some time. I am now living in the property, but long term it's a rental. I have some furniture that's hard to move out of the room(s). Mainly a big home office desk that would need to be taken apart to move out of the room & another heavy item. 

I was going to replace the carpet with carpet, but all items would be need to be moved out of every room. The next option is the vinyl flooring. I was wondering if you have recommendations on the type you've used in a rental and/or contractors? 

I am a small business owner in San Antonio TX. I am getting ready to sign a 5 year lease for my business. This is new for me as I've rented out residential space, but never commercial space. 

The monthly rent includes all the expenses (i.e. utilities, etc). However, there is a 3% increase each year + we have to pay increase in operating expenses each year for our share of the building, which is 8.3%. We're also paying for rentable space not usable space. Operating expenses = common area maintenance, taxes & insurance. 

My question is: is it typical to pay a 3% increase AND the increased operating expenses? I've read some articles online that recommend asking for the 2 prior year's expenses & the next 2 years budget to get an estimate of what those may be. 

My concerns: it's an older building / class B. The current condition is not the best, but the landlords are slowly improving the building. I don't want to be on the hook for all the upgrades they chose to make. 

Yes, I had/have property managers. I had problems with the first one and am on my 2nd company. Overall, it has gone well. No company/property manager is going to be perfect. 

I have done something similar. I used my VA loan to buy a home. Lived in it three years and nearly 10 years later I still have that place. I knew I'd have the property long term and would buy and hold. The place hasn't appreciated a lot. However, the property was inexpensive and it's paid off. Most "investors" advise against that, but it has worked very well for me. The property was taken care of bc it was rented mostly by families in an area close to a military base. I still have not had to replace the carpet after nearly 10 years and its a very light color. However, I did my research and I've ran the numbers & its very profitable.

Now, I am going to move back into the place to fix it up bc after 10 years it will need repairs and I'm moving back into a place that's paid for. I would use your time in the military and VA loan to your advantage.

I also bought and not quite "flipped" but gave some TLC to a couple of condo's in San Diego. I turned around and sold both for a sizable profit due to appreciation. This strategy works great here, but wouldn't work where I have my single family home. Those were two condo's I lived in. I used my VA loan again for one of them. Some people advised me to keep them and rent them out. However, this market is higher risk and I am not comfortable with that amount of risk right now.

I am not a professional, but use the tools you have, but do your research and do the math to make sure you'll have a return on investment. But, there's nothing wrong with buying a place and only living in it a few years. You need to do what works for you as a military person who moves often. 

So, I think the plan is a good plan bc I did something similar. :)

Well, I'm transitioning from a W2 job to self employment/contract work. So, I would like the $$ in reserves. Plus, the Texas house will need repairs bc its' 10 yrs old. In the long run (i.e. after I've made the transition and work is stable), I would like to invest in flips in Texas and eventually buy a duplex & live in one side/rent the other. I'll probably keep my current Texas house after I've lived in it for two years (made repairs) and rent it out again (eventually I may sell it), but I plan to hold onto it. 

So, yes.... I could "make it" without selling, but I'd be a little nervous about money for a few months. I have a decent amount in savings, but less than I'd like. 

Short term rentals need to be 30 days or more due to HOA rules. I have a property manager I've spoke with about doing a short term lease (i.e. 6-8 months) so it would be selling during the busier season.

I have a 1bdrm condo in 92110 that I live in and will be relocating for work. If I rent it out, then I'd "maybe" have a few dollars of cashflow, but most of that would go to maintenance costs. If I sell, then I'd make $40-50k on the sale after realtor fees. It's an older condo (1969), but is in good condition. I worry if I rent then my engineered hardwood floors and nice blinds will be damaged. Although, those aren't too difficult to repair/replace. I've only had the property for 2.5 years. Now is not a good time to sell or rent, so either could take a few months/not be as profitable.

Anyone will experience in San Diego have an opinion?

I also have a single family buy & hold in Texas that I plan to move into when I move out of the San Diego condo. It's 10 years old and is getting to the point of needing repairs, but no mortgage on that property. Just property tax and insurance. 

My condo was converted in 1980 & is sort of considered Pt Loma. Pt Loma is relatively expensive, but there are some areas (near where I'm at that are more affordable/have more apts/condos). Mine is currently on the market to give you an idea. There's several apartments/condos near me. 

https://www.redfin.com/CA/San-Diego/3050-Rue-Dorleans-92110/unit-306/home/5273417

When you're analyzing potential rental income, what's the best source to determine what the unit would rent for? I'm trying to determine whether I should keep or sell my condo when I move and rents vary in the complex depending on the place. Some of them have a balcony, w/d, etc and others do not.