All Forum Posts by: Andrea Kendall

 This. I have been thinking the exact same thing about drive to destinations vs fly to destinations, so it really depends on your market. I also agree with another poster who mentioned the inflation and how many families just can't afford any travel/vacation at the moment. I am not so sure I would believe what the CEO of AirBnB says either...

I'm just going to speak to the first half of your deal - I pulled comps (I have access to MLS) and I am seeing more around $275k, the higher ARVs have more sq ft. A lot of flippers have been lucky as of late because the market has been so hot that as the flip has progressed the appreciation has really helped their numbers, but I am not sure that is the case in Euless. Most of the homes sold recently are selling at asking - though still with low DOM. Does that make it a dealbreaker? Absolutely not. I would still flip this house.... if you're sure about rehab numbers. You mentioned you have experience in remodeling so I will leave that in your hands, but the house was built in 1961, which means you may be dealing with some larger ticket items that weren't listed in your rehab. And also, when we do our own remodeling, it tends to take longer and if you are paying interest that may not actually save money.

Just a thought... But is it a Samsung fridge? There is a class action lawsuit against Samsung right now about their fridges and leaking water from the ice maker. Maybe he isn't lying..

https://www.ejcl.org/how-do-i-join-the-samsung-refrigerator-class-action-lawsuit/#:~:text=A%20class%20action%20lawsuit%20has,yet%20did%20nothing%20about%20them.

If you are enjoying the airbnb business, I would continue to invest in that. It is always easier to do your second one that to start something new. You already have all of your processes in place and know what it needs to work. Time compression! Also, I invest in PDX and might be interested in your rental if you do end up selling. PM me! 

What are you trying to do? Fund a project? Get a business loan? There are other ways to get money that don't require a conventional loan. HML & OPM typically just qualify the asset.

Whoa... I am not an investor in California and I have no reason to think this would come to one of the states I invest in (Texas - though I do invest in Oregon), this is a huge hit to those of us that are "slow flipping" if this continues to see the light of day. I do agree that affordable housing is a huge issue, but I don't understand how this actually solves the problem. It even mentions that the money would only stay in the "community" where the homes are sold and not allocated to where it is needed the most. 

Fully agree with @Cody Hunter. I don't always think that a credit score is indicative of someone's worthiness (not everyone agrees with that) but in this case you are seeing tons of evidence that this person is unable to pay their bills, there is no logical reason to think they will pay you rent. 

You are on an investing website so I am going to go out on a limb and guess that you are trying to buy an investment property. And you are talking about a 203K so I am also going to guess that you are looking for a flip. Why not just get a HML for the whole thing? Why worry about conventional loan at all? There are many ways for a 19yo to get funding for a home that have nothing to do with a bank. But alas, I did assume a bunch here, and you know what they say about assuming...

Do people on BP hate arbitrage? Yes
Can you make money doing it? Yes
I heard on one of the STR podcasts that arbitrage should be a part of every STR portfolio, along with cohosting, and owning. Each method has their pros and cons - but together they make a complete portfolio. I can't remember the exact numbers, but it was something like "For every one STR owned, you should have 8 arbitrages, and 16 cohosting". It was like a pyramid of STRs and it was an interesting idea.