All Forum Posts by: Alex Forest

@Tom Maurer You might like Innago, its quite good. No, they don't advertise other units. Yes, apts does, at least generally if not specific units. Just use a second email to play the role of the tenant and find out. 

@Jacob Cuellar.I think craigalist is worth looking at. Not sure about distressed, but under advertised and under marketed,. I believe so. Which is good for buyers and not so much for sellers

@Linda Thomas I  think  the answer depends on your tenant pool. Why does she not have a residential history, where is she lliving now? I wonder if there wouldn't be another(man) joining her in month two(which you would not have screened). What does her credit look like?  

if you can find good used appliances by folks that just like to buy new appliances every few years, those can provide value.  Some people (in nice neighborhoods)  just like to switch out their stuff for all new to match and there is nothing wrong with their exising.  It used to be craigslist, that would have a lot. I've done well with that a number of times, except one time...test before leaving. I also had a new Lowes oven go caput after one year just after the warranty which was very annoying.

 I agree, this is probably how I'd approach it. And find out their answer soon, so you can then advertise for an opening in August, assuming they will not renew for one year.

 I like looking back at on old posts with retrospection sometimes. This one is interesting to look back at...some folks seem so certain in the moment.   Stock prices now is $41.39. I'm not saying anything about prospects or where the company or stock is going long term....just that they really did have real singificant problems that hammered the company and financials.

@John Underwood Yes, I noticed the replacement costs seemed low a couple years ago. Having some rough sense of local building costs per square foot in the area, I inquired about it. They indicated there was a software product that derived the price.  The Insurance folks were fine raising it, and I honestly couldn't believe how low the premium increased... I think I upped it more just because.  I forget exactly, but it was like tens of dollars in premium costs to raise replacement costs 10s of thousands of dollars.  I honestly feel like it has reverted to some lower replacement cost at renewal over the last one or two years (maybe based on their more recent software information) but I need to double check that. It seems there would be an incentive to keep low replacement costs, or is that too cynical?  Long story short, it's worth checking the impact on premiums to increase in coverage because it could be a good value.

wow, I didn't realize places were selling for that much over these days. Holy cow. For house hacking, are you referring for a one unit with many rooms and renting by room or duplex style?  If the latter, there are very few in western Henrico, I looked.  It depends what interests you, but I really like the forest hills area that is close to the river (if you find a decent neighborhood)...some really nice trails and connection to pedestrian bridges over the river into the city, great for bikers if you like that.  City taxes are high.  If you're looking affordable, you might look towards just north of the city in Henrico, like Lakeside and near Lewis ginter for a place with many bedrooms. It's the only place that seems to be still offering single families below 250 in central western Henrico. 

Nicec compilation @Kwan Lin.

You may enjoy this article below.  See the link to the Fed report under the price to rent heading that is linked within also.  I find this interesting but sometimes find it hard to draw conclusions from...other than there is some grounding and equilibrium of the two over time that may likely be found. I like the detail by city you have, because if you are familiar with the city and neighborhood class of the potential property , it can inform good value. If the neighborhood class is not good, well it still may have an attractive price to rent but for good reason and perhaps not be of such good value.  I wonder where some of those high end properties (with lower rents) are headed in an increasing rates environment. Lots to think about and contemplate.

https://calculatedrisk.substac...

@Jonathan Frith I like the idea if you have extra capital to spare and a long horizon. Otherwise, in the near/short term, if there is no income stream it takes money, and land prices can stay flat for quite some time, depending on where it is. If you were to add entitlements to it through creation of lots or rezoning, that would force value upwards. Or another possibility, usually in more rural areas, is getting a SFH that also has land associated with it. The SFH can produce income, while you do something with the rest of the land. Sometimes, land isn't priced in as highly when sold with a single family home (and may come with another 10 acres, or more).

What are your thoughts?  Are you looking on the perimeter of an expanding area to try to find land which may eventually be affordable now, but eventually absorbed from the exurban area into the suburban for building?