Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Cathy Malmrose

Cathy Malmrose has started 13 posts and replied 55 times.

Post: What Investment Strategy did you Start With?

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@Chase Yokoyama I bought houses the same way I'd buy clothes -- is it well made & a good value. I'm at a different price point than you so it was easy, but if I found good deals and I purchased them cash. I'm not a big fan of using OPM, just seems stressful & tight. I either flipped or kept as rental depending on property & market. It's usually clear as day what's appropriate for each property.

Post: Anybody have any gov't housing contacts?

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

Listening to BP podcast, announcing book about 1st time homebuyers. 

What if there was a gov't program that allowed landlords to set aside part of a tenant's rent in an HSA-style savings acct for the tenants to buy their first home? Landlord still gets full rent but say $20 or $50 or whatever the gov't wants to support goes to a savings account. 

1. Landlord gets a token amount for participating in program + gets better quality tenants. 

2. Tenants have to have a clean record in order to participate.

3. It shows in real time, every single month that landlords want to help their tenants live successful lives & the gov't supports landlords in finding higher quality tenants.  

The relationship between tenants & landlords is at an all-time low & the relationship between gov't & landlords is quietly antagonistic at best (Gov't literally forced landlords to subsidize tenants rather than taking the cost of this on themselves.) A program like this would help ease all those tensions, turn things around.

It looks like Path to Ownership was an attempt at this but didn't involve landlords? I took a look at their site but it didn't seem to fit what I wish was out there. If anyone has any contacts in any part of HUD, give them a nudge? Bigger Pockets community could brainstorm & outline the program in a heartbeat. We're putting our blood, sweat, and oh-so-many tears (at least I am), our livelihoods, all of it, on the line to support better housing and creating a web of mutual support... we could build that. And if it has already been built in a way that I could participate in it tomorrow the same way I participate in Section 8 / MSHDA vouchers in Michigan, let me know.

Post: In escrow to buy beach adjacent property in Costa Rica.

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

You've gotten some great replies, but check FB's Costa Rica Resources for Expats group. One of the very few times I'd recommend FB, but that group knows more about the intricacies of RE and will be able to to give you a far broader view of what you are getting into. I love BP as one of the most valuable resources I have for RE, but seeing the messages you have gotten so far, you still don't have the full picture. Ask the FB Expat group. 

Post: Why are you refusing section 8 vouchers?

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@James York I wish I could accept more section 8 tenants but they keep bringing in bedbugs and holy **** it is expensive to clean up!

Post: In escrow to buy beach adjacent property in Costa Rica.

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@Shiloh Lundahl looks good! Don't you love how their ceilings are so well done. I noticed they don't use quarter round or molding. I asked one of the guys there and he said the equivalent of "if we don't cut the board to the right length, we just do it again." We just don't see workmanship like that in the states, at least nowhere near the CR price point

Post: In escrow to buy beach adjacent property in Costa Rica.

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@Rob Pattison a friend recently purchased land, equivalent of 10 acres with a house fully built for him and he paid under 100, near you. I went to see the property in Feb 2020 as a potential co-investor. I took a pass but wow it is beautiful! Competition for rentals is tough, but kudos on your purchase. Since he moved there, he has aged in reverse *fast*, at least a decade has come off his face and he's looking trim, fit and healthy again.

Post: Finding new renters : how do you do it?

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@Sam P. Rentlinx gets it on all the sites. I typically have >300 applicants and can choose the best.

Post: Are you increasing rents in 2021?

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@Carlos Ptriawan Same here. Not a single one of my units will be increased this year and I'm proud of it. I won't have any turnover either. My tenants know they're lucky to have a place & its super tight out there. (My last open unit had over 300 applicants in under 72 hours.) My tenants pay their rent, communicate well, and take good care of the homes. I'm happy.

Post: When and How to Retire? Recommendations on therapist

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118
Originally posted by @Daniel McNulty:

@Cathy Malmrose

What else do you do besides work? Retiring or slowing down can cause an identity crisis for those who don’t have plans for the next chapter of life.

If the RE part of my life disappeared tomorrow, there are 2 other passion projects that would take their place immediately, not within a week or a year, but immediately. I am having a hard time exiting due an overly active work ethic & having difficulty getting off the racetrack. This work is so fun! I have turned over 1/2 my properties and my goal is to turn over the other 1/2 to a property manager this year, just can't find a good one (Lapeer) + sell the 3 project properties. Problem is they are sweet ones, bought for cheap so plenty wide margins to reno in strong markets. It's tempting work but the passion projects are where I really want to be. 

Post: 50 doors in 3 years, Help!

Cathy MalmrosePosted
  • Rental Property Investor
  • Lapeer, MI
  • Posts 57
  • Votes 118

@George W. Yup. That's what I've done & it's been more profitable + peace of mind.