All Forum Posts by: Brian Tremaine

Compared to the US a sales value of 5.7x income sounds great to me. I haven't seen much of Canada except BC and Vancouver. That area is absolutely beautiful. I can very well see why it is 11x, comparable to SF. Like SF, besides being beautiful it is a geographically constrained area and has a high level of economically well-off & educated immigration.

Kenton

I think your guess about higher taxes will be the reality. Cities & Counties are constantly seeking new $ sources. RE sales & renovations are a sure ticket for them.

I remodeled my personal residence about 7 years ago and that same year it was reassessed and increased by the amount of the renovation. 

Whichever order you want, no requirement. Don't just base the decision on start date though. Strongly weigh stability of income, # of tenants, family vs roommates etc...

Best of luck

Stephanie,

I agree with Dave F., what is the ROI on a graduate degree in Real Estate? Don't get me wrong, I highly regard education (BS/MSEE & MBA) but looking back the MBA was very interesting to me and I enjoyed it thoroughly but it never really contributed to my income or fit in with my career path in high tech. For you I think spending the extra time in day-to-day RE and taking an occasional RE course would payoff better in the long run and keep you focused.

Best of luck,

Brian

I would have to go equally on either a plumber or electrician. My SFR's were built in the period where Aluminum wiring was used so it depends on your style/age house.

The worst I ever had a tenant do? Two things come to mind. (1) An entire family got into the drug culture and ended up being evicted. Wallboard was trashed, rugs needed to be replaced, lots of trash left. (2) A tenant used the ridge beam in the garage as a hoist to pull an engine block out of his car and cracked the beam. Found this after they were evicted.

Luckily these were two isolated events on 4 homes over a 35 year period, not your normal stuff.

Aloha and welcome Autumn Soares!

I live in SJ CA but I do own a vacation rental and two long-term rentals in HPP. My family stays there a month each January. We also own several SFR in SJ. I'd be happy to share with you what I know about Hawaii.

This summer we were actively watching the following the Volcano flow near Pahoa, not far from HPP. The Big Island is a wonderful place. 

Mahalo,

Brian

Be careful buying in too remote an area. If the commute is too long or the area undesirable this will be the first place to drop in price during the next inevitable down-turn. As example, places like Brentwood (near Stockton) have not returned to the highs in 2007. It's better not to buy than to make a bad purchase IMHO.

Jr T.

Transient tenants can "party till the walls come down". I've seen this on the news regarding AirBnb, it is a reality. There has been cases of dreadful damage. Landlords definitely need to be concerned about this. Also, this may effect insurance coverage claims.

Check out this damage from a rage AirBnb_rage

I agree with Justin Tahilramani,

With roommates your are subject to more turnover and they are not likely to take as good care as a long-term stable family. Given the choice I always pick families over roommates.

Hi @Joey

I agree a 3/2 would be much more marketable. Especially if the added bath is an en suite. As far as the addition the only things that come to mind are 1) Is your property zoned for 3/2 or would the city balk on the additional sewage hookup? (square footage per lot) 2) Pesky set backs; the addition you plan might encroach on a property setback requirement.

Good luck, in general sounds like a great idea! I have a 3/1.5  in SJ and have had similar thoughts about making a master suite and having a 4/2.