All Forum Posts by: Stacey Bochenski

@Aaron Kawamoto I second what @Caleb Bryant said.  I have purchased 3 sfh properties off-market this year in 35810 and 35805 that meet (or slightly exceed) the 1% rule.  They're out there, but you have to be ready and move fast!

Hey Sevak!  Welcome and congratulations on getting your first home under contract.  I'm part of a small unofficial group that meets every month or two in Ventura to talk real estate.  We have all types of investors (local, out of state, residential, commercial, newbies, etc.) and would love for you to join. You should connect with @Seth Dailey, he's our leader and a really great person! :)

I am in the middle of a cash-out refi on a Huntsville property and the appraisal came in low.  It was done based on properties less than a half-mile over the course of 9+ months.  I didn't know there was an option to submit a rebuttal until the broker recommended I do one.  I felt guilty doing it, as I'm certain the appraiser knows more about it than I do, but there was no cost, so I had nothing to lose.  I stayed within the half-mile radius but used more recent and higher priced sales and made the argument that because of the current appreciating market these were more appropriate comps.  I also talked about a very large open space behind me that was unfairly limiting the comps to chose from in my radius.  He responded with a large percentage (small dollars) increase and we are moving ahead with the refi. 

@Jeff Henderson who did you use for your refi?

I think this sounds great! You probably already checked, but just in case, be sure the condo's HOA doesn't have any rules against STR.

Thank you! @Tony Lin

@Ashish Acharya @Michael Plaks @Tony Lin

I'm late to this party, but what is the best way to log/document a property manager's time?  My properties and PM are out of state.  I'm hesitant to ask for a detailed log of all her/her staff's activities related to my various properties, at the risk of seeming like I'm micromanaging. Is there an acceptable work around?

@Morris Vanderhost same!! Looks like we are a bit unique! :)

@Michael S. my PM is personally  invested in the area so I’m cautiously optimistic. I’m nervous but so excited to have my foot in the proverbial  Huntsville door.  I will definitely let you know how it goes (hopefully it will be all good news)  :)

@Jeff Henderson in your messages :)

Hi @Michael S. The property is in 35816. We did a comprehensive FaceTime walk through and saw all that would need to be addressed. We also received tons of photos. In addition, we had a full inspection done and a termite inspection which identified the same issues and a couple more (nothing deal breaking).  Further, I was able to determine the wholesaler had actually purchased the home from the owner just prior and got a smoking deal on it (which is why we came in a bit lower than asking). We were able to close in 7 days which I believe motivated the seller. He definitely made some quick money :) 

All in all, I am certain we’ll learn some lessons from this property since it’s our first; but I’m confident in our DD and I’m very optimistic for the future of this property. (Fingers crossed!!!)