All Forum Posts by: Andrew Rosenberg

@Gregory Oliver Good luck and way to go. Research as much as you can proper maintenance and learning repair items costs. Underestimating maintenance and repair costs was my rookie shortcoming and I would argue for most rookie investors. DYI when applicable, but go with licensed electricans/plumbers. Always get multiple bids.

Keep expanding your network, one thing about your generation that can be irksome is the stereotype (whether deserved or not) of thinking that yelp/insert website can replace the kind of quality referrals that come from meaningful personal connections. The fact that your here on BP kinda says that you're an exception to the stereotype :)

@Bradley Chapple Good luck and best wishes. Will you be investing in state or out of state? Curious as Fort Collins' prices and valuation ratios have risen quite a bit.

@Patricia Steiner Great response!

@Michael Ream Good luck, pretty much contractors usually over budget and late.

@Sungyong Kim When tourism returns in full force you'll probably want to STR through AirBNB to make more money. Otherwise yeah you'll have to eat the sunk cost on the place. Really recommend you talk to multiple realtors. Sure there's tons out here, but the good ones and everyone else. I know a lot of people on BP will disagree with me but it awful that a realtor didn't point out that that low a down payment and Hawaii's crazy HOA fees would make cash flowing near impossible. Most Hawaii people invest out of state because it's so hard to cash flow even break even here - and this was before Covid.

Yikes, I'm so sorry to hear this. HOA fees are really cash flow killer out here in Hawaii. Make sure you regularly pay you General Excise tax on the rental income. Feel free to contact me if you ever need help with A/C service or a new PM. Wishing you good luck!

Way to go, glad it's proceeding!

@Johnathon Sandoval Research property tax 1-2-3 status of IN. Not a deal breaker in the least, but you'll want to know when you calculate cash flow - helps to have the correct $ costs.

@Victor Tatyanin This is something that your realtor should have disclosed. IN is a 1-2-3 state: 1% owner-occupied, 2% non-owner occupied and 3% commercial. Lotta websites and news articles site Indiana's low tax rate, but they are written by morons. 2% is pretty standard midwest property tax. Hear too often of OOS investors running numbers without knowing to double published or disclosed property taxes. This really irks me personally, as someone making a relatively large commission should be more than a glorified salesperson.

@Dan M. Good luck, hope it works out!