All Forum Posts by: Christopher McGuire

I've been a member here around 10 years! Crazy how time flies...

Anyway, in my spare time, I have built a 100% free (seriously) real estate exam prep website. No it is not spam. No I do not have any upsells. No I do not have any ads.

At some point I want to monetize the website because there is an insane amount of value in it, but for the first year or so I really just want users and feedback.

How can I make it better? What would you change? Do you like it?

So if any of you decide to check it out, just drop me a some feedback below.  Thanks guys!

lhttps://realestateexamninja.com/

I own a house that I purchased through Fannie Mae as an owner occupant about 4 months ago. Obviously there is a clause that I must owner occupy the home and not rent it out. My question is this.

If I Airbnb the home while I am away on work (10-15 days per month) does this count as renting the property out? My residence is there, my mail is coming there, etc. This is my home.

What do you guys think?

I have seven rental houses and one primary resident house that I would like to get put under once policy if at all possible. What information should I put together so i can email out to the people that are interested in helping me? I want to make this easy and simple for everyone. This portfolio is growing as well so please take that into consideration.

Please post what information is needed and I will send you an e-mail in the next 48 hours. Thanks.

Congrats!

David - That isn't how a cap rate is calculated. Divide the NOI by the sale price, not the gross rents. Cheers.

I'd love to get in on those Billy, but that location commands quite the premium. I can't make enough of a return on the ones I have seen come up so far.

Just took a look at your profile. Great job! Good luck to you.

I'm hoping some of the major players will share some wisdom. I started my buy and hold portfolio about 6 years ago and have found some diamonds in the rough in the Huntsville/Decatur market.  I grew up in that area and know it very well.

About three years ago I moved to Birmingham for work and haven't jumped in the local game yet and it is killing me. I live in Crestwood (and love it) but this area is a little too expensive for me to get into buy and holds.

Can any of you local guys tell me where you are getting houses and what a typical deal looks like?  I see some good price to rent ratios from my initial research in the East Lake area but unsure if that is a "safe" neighborhood. I don't mind the places where I can get robbed but would like to stay away from the places where a robbery could turn to a murder pretty quick.

 Any guidance would be appreciated.  I would be more than willing to buy someone lunch, coffee or a round of golf to pick their brain.

Thanks, guys!

Humm...this dialogue will be helpful Bob.

I've been investing in similar properties about five years now so if I'm doing it all wrong I'm glad we are chatting. :)

I'm a cashflow investor and the cashflow numbers on these properties seem good. My first deal was almost identical to this and it paid itself off last year. I've got another one almost paid off as well. I guess I'm not following when you ask about gross rents vs. purchase price. 

What would you pay for this rental? I appreciate you having this conversation with me. I'f my margins aren't good I need to figure out a new approach.

@Account Closedundefined

I doubt anything. It was a foreclosure that I inspected as well as had my regular inspector look at. I live in a fantastic market for wannabe landlords (or so I think). I'm scaling as fast as I can and most of my deals are similar to this one. 

I appreciate the feedback guys. 

Roof has about 5 years left.

Water Heater is new

Heat/AC unit is new

Thanks, Brent. This is actually a relatively decent part of town. B/C neighborhood. I agree with your capex comments. I may need to revise those estimates going forward.

Appreciate you guys responding.