All Forum Posts by: Amy Osterberg

Yes, we do have one at each property to use when needed.

Definitely some differences. You’ll want to get the overall space but a lot more focus on furnishings and amenities. More vignette style pictures. More deliberate staging.  

There's very little inventory where I am (Charlotte NC), and some pent up demand from the quarantine so prices and demand are still high... but I can't help but worry that the unemployment numbers here (as well as everywhere in the country) will impact real estate over the next 6-12 months as foreclosures skyrocket.  

I'm a fan of ikea cabinets too.  I spend more on their pull out drawers and interior organizers... I don't do a kitchen that I wouldn't be prepared to live with myself.  The little details help retain tenants - even if initially a tenant doesn't see all the detail/upgrade in the kitchen at the first showing - and I guess it all depends on your price point.  Using Ikea cabinets, granite from a local shop or on sale at Ikea, high end appliances from the big box stores - I can put in a gorgeous kitchen for right around $8-10k.  It'll definitely come back to me when I sell and in the rent I charge.  

Welcome!  I'm in Charlotte too - have been here about 15 years, investing in real estate for about 20.  Let me know if you need anything!

welcome!

@Shaun Weekes, really? Can I get LLC financing that I personally guarantee? How many properties can I get personal financing for if I do put them in my name? Can I move them back into an LLC after they are financed?

The SFH in Oct 2014, the duplex in Dec 2013. No more than a week or two of vacancy on either one while switching tenants.

I've got two properties in an LLC that were bought with cash. I'd like to finance them so I can move on to more deals. Both have great rental histories, are located in very good neighborhoods and very low vacancy. I've got great credit and great income. Surprisingly, I called a few lenders last year and most responded they weren't interested in investor financing right now. Any tips? I didn't try all that hard - but if there's an easier approach - I would love to try that. Do I need someone local? Any recommendations on what type of loan to get? My goal is to get 70% of the equity at a low interest rate and low closing costs to buy more properties. I probably will hold the properties 2-5 more years - maybe longer.

You can look taxes up in nearly every city by address.  There's no state income tax in FL, so property taxes are higher than average.  I have a house valued at $250k ish in St Pete and taxes (without homestead, it's not my primary residence) are over $5k per year.  Maintenance is high...  lawns/shrubs/trees grow really fast here so you can't cut any corners on yard maintenance.  There are lots of grouchy retired people who will report you to the city for anything less than perfect yard.  And many houses have pools - which get pricey to maintain too.  I have a great deal on yard service - $80 mo, the pool costs $140 though.  Depending on how close you are to the water - things fall apart fast...   I'm amazed.  And budget for storm damage too.