All Forum Posts by: Ash Hussain

Hello all!

I just bought a 6 bedroom single family house and am renting it by the room. 2 of the tenants happen to be students.

I have standard homeowner's insurance for landlords, and was going to get an umbrella policy. I did notify the insurance agent that it is a 6 bedroom single family, and I am renting to 6 separate, non-related people... and he said that was fine. However, I am not 100% sure that the underwriter would agree with the agent in the event of a claim.

Would you recommend that I get insurance that is specifically designed for rooming houses? What else can I do to reduce my risk/liability? 

How about Monday evening (July 2nd)? Anytime after July 10th works for me as well.

Hi! Let's do a meetup the weekend after next? 

@Joel Duguay @Account Closed

Hi @Account Closed - so I looked into honomobo more. Turns out that they build to the HUD code for manufactured housing. That's not good as manufactured homes don't appreciate in value like conventionally built homes, and getting financing is more difficult.

But there are other providers that perform modular construction in a way that the homes qualify as being conventionally built. The providers below are in my area but are expensive, around $200-250/sqft.  

hybridcorehomes.com 

northcoastpackagedhomes.com

If anyone knows of a modular construction company that builds homes at a more economical rate, please do let me know. :) 

Interested, sent you a PM.

I was looking at this today as well, and stumbled on honomobo.com. This company sells beautiful modular homes made of shipping containers. Approach: for a buy and hold deal, I would have a small modular home built in the backyard and rent it as a second unit. 

Honomobo HO2 model -$78k 

Foundation: $8k

Hookups: $15k

In my area, this unit would rent for at least $1,500.

Thoughts? 

Hi @anthony, I'd love to find out more as well. I'll message you privately!

Originally posted by @Account Closed:

Lake county,  is a great place to start your investments. I have been investing in Lake county for the last 6 years. Great entry point to getting started. Good cash flow plus you get the appreciation value where you don't get with out of state cheap turn key properties.

As for Lake county PM, I have been operating a great property management company for last 5 years along with being a general contractor for the last 12. Majority of our business is investor properties along with my own. As majority of tenants are low income producers or state paid employees so as others have stated above a good renter is hard to find. We help with all that.

Contact me anytime for some insight

It was a great meetup! Thanks to Katie and Merced!

@Jenifer Levini I was excited about the train as well, but the fare seems to be cost prohibitive for many. It's $9.50 to get from Santa Rosa to San Rafael, one way! And then one has to pay the fee for the ferry to San Francisco as well...

I live in Santa Rosa and see most young people struggling due to the lack of good jobs and high cost of living... it's not a good place when you look at average incomes relative to average home prices... there is a lot of wealth in Sonoma County, but this seems to come from people who make their money elsewhere and move here as they approach retirement...

I am located in Northern CA and would not invest in SF Bay right now. I believe there are value-add opportunities in other parts of northern CA. @David I am looking at investing out of state. I visit TX regularly for personal reasons and have thought of investing there. However, the sentiment amongst many BP investors seeking cash flow seems to be that good cash flow opportunities are now hard to find in Dallas/Austin/Houston. Kansas City seems to be a popular target for cash flow investment now. If you don't me asking, would you be able to provide ballpark figures for cap rates and overall returns that one can achieve in the best markets in TX right now, through one's own deals, turnkey and syndication? Thank you!