All Forum Posts by: Austin Bathel

I'm dealing with a mortgage company right now so I'll have to ask my guy to see what he can do for me. I'm currently in the process of buying another primary residence with an FHA loan. So we will see.

thanks for all the info guys. I think I'm leaning more towards maybe pulling 40k equity out and putting that down toward my next rental house. Seems more logical and I will still be cash flowing on the property close to $200/month.

Hey guys I need some help here. I own a rental property in Camino, California. I want some help here to see what you guys think, if I should sell my current rental and buy other with the money I would get or if I should keep it. Let me give you some numbers.

I owe 118k on the property. I just had it appraised last week at 189k. My payment monthly, which includes all taxes and insurance is $870.01. This house was completely renovated before I bought it. All new electrical, plumbing, Sheetrock, floors, roof, appliances, counters, cabinets and basically everything you can think of, so I basically have 0 monthly maintenance on it. The home is a 2 bed, 1 bath and also has a loft. I currently rent it for $1,200/month. I will probably raise rent to $1,250 after the current lease is up. What do you guys think? Should I sell and put that $70k in equity into two other houses? Or is this rental fairly well cash flowing? This is my first rental so I'm not super experienced. If I sold, I would have enough money to do 20% down on two other houses that I could use as rentals. Hope to get some good feedback from you experts out there. Thanks! 

Hey there Issac Arambula . I'm also new to BP and located just east of Sacramento. I currently have 1 rental and in escrow for buying my second property. I've been interested in possibly getting my RE license for future use. Do you have yours or ever thought of getting it? I've been trying to connect with and get to know all the people from my local area. Hoping to learn from near by people for my future investing opportunities.

Yeah I see what you're saying. I will definitely have to clarify that on my next rental contract. Also, it not so much that I care that they painted it, it's that I don't have any matching paint for it. It was custom mixed paint by the contractor who rehabbed the property so I have none extra to convert it back. If the renters don't convert it back to the original color, what do you think a correct amount would be to withhold from their security deposit?

Hey guys I need some advice here. I am refinancing my rental currently. I needed to get the home appraised so I had set up a time with the appraisal company and my tenants that worked. The tenants told me that they would not be home that day and told me to let the appraiser in the home myself. During the appraisal, I noticed that the tenants had painted one of the rooms. Now this house is all upgraded, brand new everything, from granite counters, stainless appliances, and brand new electrical and plumbing. I've kept the very neutral theme in the house for an obvious reason, I want to appeal to the most people. However, the tenants painted a room. One wall is a VERY royal blue and the other walls are grey, and the ceiling is white. Before it was all tan/cream just to match the rest of the house. What do you suggest I do? Should I mention it to the tenants? There is nothing in our lease about painting. It does say the tenants can not make major changes without consulting me. Also, it was a very bad paint job.

Thanks for all the welcoming. I'm hoping to make a lot of connections and friends here. Are there any events in the local area through BP or anything? 

hey there guys, first post here. I am a beginner investor. Purchased my first home in Camino, CA. This was just a little over a year now. I started renting it out a few months ago. Just to give you an idea of numbers, my mortgage, insurance, property tax, and monthly expenses adds up to $839.01/month. I currently collect $1200/month on rent. I feel like it's pretty good cash flow on the property, considering I bought it from a non profit that did a fix and flip on it. I am currently in Escrow on my second home, also in Camino. I am using FHA financing on this one, so I will be living in it for a year, then renting it out, I project I will turn about $350+/month on this one once it's rented out. The only way for me to buy and rent houses right now is to finance them and live in them for a year since I don't have 20% down. I am only 21 so I feel I have a decent start on the whole process. Does anyone have any advice for me? I have been peeking around on the forums for a little while now just learning a little here and there.

Thanks,

Austin B