All Forum Posts by: Amit Chawla

@Nathan Murith thank you for the information.  I'll check it out

Hi Janine,

I would be interested in the same if you find something.  I have a 34-space park in Arkansas and would love something that is easier to use than my property managers ledger that I get sent monthly.  Deciphering the ledger is painful and time consuming.  

If you find something, please share it with me.  Thank you

Is there any way for you to break the lease due to them lying about the usage?  If you have something in writing saying they were using it for corporate lease, then you may have some legal recourse to break it.  Not sure though as I'm not a lawyer.

@Jeremy D. if the pad is big enough, you could possibly put an RV on there and rent that out for additional income.  You would most likely have to provide hook-ups for water, sewer, electric and purchase the RV.  Or you could just advertise it and rent it out as is.  I know people in my area that will pay anywhere from 100-200 a month just to store their RV, and possibly more if they are living in it instead of just parking it.

Hi Heather,

What markets are you looking at? There are quite a few markets where 1% is unachievable (California is a prime example, except for pockets). But if you look out of state, there are more than enough markets across the country where it’s still very easy to hit the 1% or sometimes 2% rules. 

I know you stated you are risk averse so this might not be the best or easiest option for you, but if you can stomach it then the returns are worth it. 

@James Wise thank you! Exicted for the journey.  

Hi Marvin,

What exactly are you looking for?  I can recommend realtor, GC, property manager, project manager that I am working with.  I can recommend whoever you need. 

Amit

Hi Kai,

Everyone has posted some great advice.  I personally prefer multi-family or small apartment buildings out of state that require a little renovation.  They may take a little bit of time to stabilize, but tend to be better deals than a turn-key investment.  I have some projects on the horizon if you're interested in discussing.  Either way, it will give you an idea of numbers out of state vs here in CA.  

It all depends on the type of property, size, and condition, age is sometimes a factor.

Hi Andrew,

Do you know of anyone that can lend you the money? Can you put it on a credit card?  Hard money lender?

What will you be renting the rooms out for?  What are your expected income and expenses?

Unless the house is unlivable, I would just start the house hacking now and renovate as you go.