All Forum Posts by: Chase Harris

@Jason Avila

Lorraine Evans out of Roseville Ca is excellent. She specializes in clients with real estate investments. I have been using her for years. Give her a call and tell her Chase sent you.

That's good info Julie, thank you! I might reach out to you down the road if thats ok. 

I am looking to purchase a lake house, update, furnish it and then hand it over to a vacation home management company. I have the house identified and the management company lined up for it as well. Anyone here have much experience in this realm? I have 16 units but this will be my first try and a vacation rental property. Any tips or advice would be appreciated!

You can do it Shawn. Get your financing in line, connect with an agent to get you on the listing service if you have not already and lastly have your criteria listed out on what you want to get in terms of cash flow/ROI/cash on cash return and then go out there make the offers and get one. Don't over complicate it.

I have a handful of multi family properties in eastern Washington and the numbers work for me out there.

Good luck!

Hi BP...I live in Ca but am looking to invest out of state. I have 11 units (single and multi fam) and I am looking to get another in the next few months possibly in the Kansas City market. I would love to connect with a property manager there that also has a real estate brokerage under one roof. If anyone has a reference that would be great!

Thank you

I would hold out for a better opportunity...your homework looks great but the numbers at the end could be better somewhere else. Going through this deal with a fine tooth comb like you have will only allow you to be more sure when the "right" deal comes across your plate. Just my opinion, thanks for sharing!

Hi Billy,

Sounds like an ok deal to get your feet wet.

As you listed out there are pros and cons to the nicer areas vs lower cost areas to invest...the biggest challenge others face in your shoes is actually pulling the trigger and getting the first deal on the books. Once this one is closed, rent checks are coming in and you can see how expenses iron out, etc you will be much better suited to identify a better deal in that area/market. Lastly you want to make sure there are no immediate major repairs coming due soon (roof, hvac, siding, etc) If so make sure you budget that in for the near future.

Good luck!!

Chase

Welcome Jason!

You are in a good market to invest in...keep saving and move into a 4 plex. Then resave and do it again and again. Take advantage of getting the owner occupied financing as long as you can! I was able to do it 3 times and kept each home as a rental after moving into my next one. Just one way to get started...

Hard money loans can be good for doing a buy and hold that needs rehab...in some cases you can get out of the hard money loan in 2 months or so and move it into a conventional loan. Any type of cash purchase would be ideal to avoid lending issues due to the condition of the property prior to rehab. Leveraging a HELOC, private money or hard money are just a few ideas that come to mind.