All Forum Posts by: Ace Kaspar

Hi Sarah,

Question, will the condo HOA allow short term rentals? Most don't allow any under 31 days or so and some as high as 6 months.

I would say adding another bedroom would be better for the long term rental rate + appreciation. Tough choice but can't go wrong with either decision :D

Look into the cost of each and how much it would benefit you currently once finished vs the long term (10+ years).

0 Votes

Not sure why it posted as I was just trying to add it to my profile but there is some info on the deal lmao

1 Vote

Investment Info:

Townhouse buy & hold investment.

Purchase price: $241,555
Cash invested: $12,000

Townhouse in Raleigh

How did you find this deal and how did you negotiate it?

Found it via Zillow and negotiated with the selling agent

1 Vote

Quote from @Alba Cheung:

Do I need to hire an attorney to evict my tenant who, is a single mother with 2 high school kids? she paid rent late every month since she moved in Dec 2023. And she refused to pay the late fees. How long will it take to evict this kind of tenant? is going to be completed in Alpharetta, Fulton County? Do I need to hire an attorney? I can do it on my own. Thanks

Hi Alba,

Ah evictions, how we love them *Sarcasm*

I don't have experience in the area o Alpharetta but I can detail from previous experience:

I would recommend hiring a landlord attorney. I had this happen to me but with a tenant who was not following the rules of the lease.

I had records of all issues, rules broken and other details. Photos and anything else that would help me win the case.

I would recommend you do the same and I told the tenant if they do not cause damage to the property or appeal once I won then they could get the full security deposit back.

Hope it goes well!

1 Vote

Atlanta, Georgia

Hi Rachel,

Welcome to the forums!

A lot of knowledge to learn from a variety of people here.

If you have any questions feel free to ask and were happy to have you!

Best,
Ace

1 Vote

Tacoma, Washington

Quote from @Layton Mikkalson:

I bought a 2,200sq ft 3 bed, 2.5 bath home in 2022 using the VA Loan for $330,000 at 3.25%. The Zestimate is now $389,000. Mortgage is $2000/mo and I could rent it for $2,500/mo. I'll be moving to St. Louis in June to start a residency program and won't have much time to manage the property and I'm not sure what I'm getting myself into. The home is in decent shape but the roof is from 2002 and will need to be replaced at some point. I'm wondering if I should just avoid the headache of renting and just sell or if I'd be making a huge mistake since I have $0 down and locked in at 3.25% interest.

Hi Layton,

I would keep it 100% and rent it out.

It doesn't make much sense to sell it as you will most likely never see those low interest rates or won't see them for tens of years.

There will be expenses you will have to maintain sure but the appreciation, tax benefit and rising rent/mortgage pay off make it a no brainer.

0 Votes

Southeast NC, North Carolina

Quote from @Rodney Love:

My question for anyone that escape the 9-5 rat race is. What real estate strategy did you use? Example if you had between $20,000-$70,000 to invest in real estate. How would you use that to replace your income of $7,000 a month from your job? Fix and flips, tax liens, mortgage notes, rentals, Airbnbs?

Hi Rodney,

It really all comes down to personal preference. I have seen people do flips and continue to do that to escape the "rat race" but others acquire properties doing once a year by putting 5% down and over time it will easily get them living comfortably.

If I had it I would find a property in a solid area for airbnb (where the numbers make sense) and make my place an airbnb while living there or get a roommate for the first year with me then airbnb it out.

Getting a real estate license helps as well so you can get $$$ for referring people or put $$$ towards the down payment or closing cost from what you would make as the realtor on the deal.

1 Vote

Hi all!

I am considering moving out of NC to somewhere new as I have lived in NC pretty much all my life.

I am looking for one of two things in my next property and looking to spend anywhere from $150,000 - $375,000 (max) :

Option 1: A quadplex (max $375,000) /Triplex/Duplex (If $250,000 or under for a Duplex)

Option 2: A house (not HOA) that needs work done to it (not a house that needs to be rebuilt from the studs) and I am open to dropping $150,000 - $250,000 unless I need to spend more in that market and the math makes sense.

Areas I am looking to is:

- San Antonio, TX
- Columbus, OH
- Cincinnati, OH
- Seguin, TX
- Boerne, TX
- Des Moines, IA

Others in there as well but that's a good starting list of where I am considering looking to move to and I am researching.

Any guidance on ideal investor friendly markets would be appreciated. I won't be buying a house for awhile but good to research in advance.

Thanks all!

2 Votes

Quote from @Ariana Soto:

Hi guys! I need your help, please. I have a call in 30 minutes with a flooring vendor that installed some LVT (luxury vinyl tile that looks like hardwood but is cheaper) at my rental property.

It’s a completely different color than the sample that was shown to me (basically the sample showed only one shade of many, and so I was expecting just a dark brown, yet the end result is many different shades that create a very chaotic, wild and jarring look).

He checked in with me to mail the rest of the balance, but I am horrified by how it looks, and this will be affecting me financially for many years to come because I’m sure there will be others that equally dislike it.

I’m really afraid that he’s going to be angry because he finished the work, and it may not be bad work, but nevertheless, it is an outcome that was based on kind of a lie at the get-go, by not giving me a representative sample.

Any suggestions? I am feeling dread and worry that this will affect me for years to come, but also about his reaction, I’m sure he’s going to be very angry that he is finding out now after the work is done (this is an out of state property so I was not there to see it in person and only got the full photos after the job was finished, I did get a couple of photos after he was halfway through but at that point, I also didn’t want him to abandon the project because I need to get it rented right away).

I’m feeling turmoil, uncomfortable, upset about the whole situation, tense, and my needs are for security (financial in this case, because this is my long-term financial investment), a need to be known by him for what I’m experiencing (which he may not be able to see if he sees red about not getting paid in full—I’m thinking since the work is done the only thing left to ask for is a discount, I don’t know how much to ask for, maybe I should let him suggest an amount first?

Job is $8000 so this is no small change, I already fronted him the costs for the materials, which I think was about 44% of that.

I just wanted ease and order in dealing with a place that can be easily rented for years to come and now I feel like this is really going to hinder that whole process.

Surprisingly, my property management company, which is being onboarded right now, seems to like it but I’m really shocked as to how.

Thanks so much for any help you can offer, Im sorry for the short notice, this really sucks so much 😞😞😞

Hi Ariana,

If the property management team is confident they can rent this then that should help but when it comes to the LVP, did you specify which color you wanted?

If you didn't give them a specific color and if it isn't in writing, it will make this hard to have them redo and get the correct LVP.

At the end of the day, if it is equal to the value as the other LVP, will rent good through the PM team, and if you don't live in it, then it would be better to keep it in.

Everyone has different taste but I would see if you can work on an arrangement for less $$$ as it is the wrong LVP.

4 Votes

Hi all!

I was talking to a friend of mine when the question of an appraiser apprenticeship came up as a better way to become an appraiser.

Has anyone been through this process? If so, can you talk about that experience and how you were able to find someone to take you "under their wing"?

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All Forum Posts by: Ace Kaspar

Ace Kaspar has started 17 posts and replied 106 times.

Post: Add a Bed or Add a Bath?

Post: Townhouse in Raleigh

Post: Townhouse in Raleigh

Post: need help to do eviction. 1st time

Post: Just saying hi! :)

Post: First Property - Rent or Sell?

Post: Which real estate strategy works best to escape the 9-5 rat race?

Post: Considering moving - seeking advice from investors

Post: Negotiation in 30 min—need your help plz!

Post: Appraiser Apprenticeship Question