All Forum Posts by: Cariza Abinguna

Hi everyone!

Any landlords from Baltimore here are self- managing? Or do you know any great PM in the area?

What experience do you have having your property rented by Sec 8 tenants and what's your process like?

Any advice/suggestions/recommendations would be so helpful!

1. I google sample template and mix and match house rules I'd like to enforce in my property. It's essentially the same regardless where the guest is coming from. And if it's in airbnb, yes I put it in the house rules but I also put it in check-in instructions in detail.

2. Airbnb conduct background check but I think it is limited as far as I know. So for me, I require that they complete the verification process (Identity, email address, phone number) and I pretty much interview them like what's their purpose of being in the area.

3. I use Avail and been loving it! Its also free. From there you can request for application which includes credit, criminal and eviction history. They have default lease from all states, and you can receive payments from it as well!

4. BP have template leases here under tools. Avail has it too. And also Google!

Hope this helps!

Quote from @Nicholas L.:

FSBO and off market aren't the same thing. A FSBO is someone who is listing but doesn't want to pay realtors fees.

From my understanding, properties that aren't listed in the MLS are considered "off-market" therefore FSBO is considered "off-market". No?

I've always heard that For Sale by Owner is one of the ways to find off-market investments. I want to take this opportunity and I need your advice on how should I go about this.

My boyfriend's dad is selling his home in Pocomoke City, MD. They will use the money for a down payment for a new house they want to purchase. The house is fully paid but definitely can use some cosmetic rehab.

How does FSBO works? Also the financing part of it?

I can see it as BRRR or fix and flip but I would have to run the numbers.

Where do I start? What questions do I need to ask? What information do I need to know?

Any  suggestions/recommendations would be so helpful! Thanks so much in advance!!

YES! Thank you for this event. Looking forward to meet everyone!

Congratulations for you 1st investment property!

Following!

I am also in the process of looking for another property as a second home with 10% down with the intention of using it as MTR. However, I have been having challenge finding a property that would cashflow considering the interest rate. >.<

Quote from @Rob Chiang:

I am just wondering what other acronyms that I will need to learn to get views on tiktok. I thought STR's (airbnb) was the only other option. Please enlighten me on the new trend of "MTR". Are you doing them at your properties?

MTR means Medium Term Rental or Midterm rental. It is very much like STR as its also furnished but the stays are longer >30days stays. I do plan on doing it for the next property. What I find attractive about is there is less turnover compared to STR and clients are also paying premium as it is furnished.

Quote from @Jeremy H.:

Quote from @Dmitriy Fomichenko:

@Cariza Abinguna,

Yes, you can establish a self-directed IRA and then rollover your old 401k into it. Once the new account is funded you can invest your IRA funds any almost anything, including real estate. This way you accomplish several things:

1. Remove your 401k from exposure to the stock market (which you can't control)

2. Will have the ability to invest in real estate (which you can control)

3. Avoid paying taxes and penalties on early distribution, which could wipe out 30-50% of your 401k balance (would be poor financial move)

 Hmmmm - couple of things I could use an explanation on

1) Can't control the stock market. This is true to an extent but we DO have a 100 year history to look on and we can assume, by looking at past performance, that we can average 8-10% a year. May be out of your control but still predictable over the long term in my opinion. Very liquid investment as well. 

2) Can control RE investments. I agree again here to an extent. You can't control loan terms (points, amortization periods, DTI etc), interest rates, the market itself (same with stocks), consistently finding under valued properties, realtor performance, even investing in your local market may not be an option, not a liquid investment - in fact I'd say the only thing you can control is the actual deal you make and you're able to find yourself. Can most people do this successfully and long term and beat the stock market - no. Does everyone want to be a landlord, no. Does everyone have the cash to start and the assets to continue to run a business successfully - again no (as is the subject of this very thread)

Point I'm making is it takes a dedicated persistent individual to become a real estate investor and stay with it over the long haul. 

For a brand new investor even thinking of cashing out their 401k or any type of retirement investment is a HORRIBLE idea. This is the beginning of a train wreck in MOST cases. I would never advise someone to do something like that. They are making a risky move that requires money (risky just based on skill level and capital available) and have absolutely no safety net...and they will end right back up at square 1 after their 401k money is spent. What would the advice be then?

Jeremy, I'm picking up what you're putting down. As a new investor willing to risk their retirement money onto something I'm passionate about, I see that being dedicated, persistent, and most especially, driven. 

I would not be willing to take that risk if I don't have any safety net. I might be a rookie but I'm not that naïve. We all have to start somewhere, as for me, I was just trying to pick people's brain that's better than mine. I am here to learn and not to be judged. I know this is a community of encouraging people and I was just looking at different avenue to keep the ball rolling. And from what I learned from everyone's response, there are better ways to come up with funding a property and it's smarter not to touch my 401k, so for that, I am appreciative and grateful for all your responses.

Thank you all so much for your sound advice. Really appreciate it!