All Forum Posts by: Christina Hall

Thanks @Andrew Lawlor we are now looking to do something like this https://everywhereco.com/ayfra.... We have an A frame in the mountains and it does very well. We are in contact with the preferred lender for this company for a construction loan. However I still need to do more research on what their Turn Key option includes (if it doesn't include permitting for water and electrical, etc. I agree price is going to get way up there), at that point resale may be a better option. 

We bought a property in Lake Arrowhead CA February 2020 for $320k (amazing timing). Put about 80k into it. Current comps in the area are around 600-700k (thanks to Covid). We financed it initially as a 2nd home with a 3.5 interest rate. Refi'd it last October (also as a 2nd) at 2.7 with an appraised value of $405k. It will definitely appraise for > $550k now. We grossed $72,000 on it in the last 12 months as a short term rental. There is plenty of cash flow and we self-manage. We are now looking to purchase another rental and would like to have similar returns. We are also considering buying a lot and building. We have a lot of cash tied up into this property and at current market prices a lot of return on equity. Since the property also cash flows well we do not want to sell. Should we do a cash-out Refi as an Investment Property at a higher interest rate than what we have? Or should we keep the loan as-is and not BRRR?

Purchase Price: $320k
Amount Invested: $80k 
ARV: $600k (very conservative)
Gross annual revenue: $72000
NOI: $55000

Anyone have price ranges for a solid prefab home? We have been in the resale market in JT/Yucca and it's not working out 

@John D. Palm Springs has double the active rentals ... it’s a major market like Big Bear whereas yucca and JT are mid sized comparatively https://www.airdna.co/blog/bes...

@John D. in the mountains I am expecting demand to taper off and return to some normalcy in the next year or 2... supply/competition since COVID has also increased there as it has in prob every vacation rental market in the country. I still think JT/yucca has a bit more ways to go though in terms of supply meeting demand and price growth. Its not a large market like Palm Springs and may never be. A price correction is for sure coming. Since we started buying out there (but also in every market right now) what’s occurring isn’t sustainable ... buying properties for 100k over list, 70% of properties aren’t appraising or won’t appraise. I mean that can’t go on forever. Where do you have rentals in the high desert? Do you see other areas starting to emerge? 

I’d prefer multi-family though in 29 palms. Catered to military. 

@Wesley I. we’ve looked there and it’s a lot cheaper ... there are some properties in wonder valley that do well but a few property managers in the area have said to stay away, that could be just their opinion. Morongo Valley is another where it may be worth investing if you find the right property. I really look for the right property first.  

@Erin O'Connor Smith that's great! Would love to get his Info. Just sent you a PM. Did you guys get the one off Yucca Mesa?

@Erin O'Connor Smith we've had 5 offers on property ... ranging from a 2/1 in JT that we considered flipping to the last one, which was a 2.5 acre in Yucca. That we thought would make a good short term rental, and it would have but needed about 60-80k of work. The last one in Yucca we should have went for in hindsight. It's now pending at 370k. There is NO Inventory. Most people are paying 30-80k over list and waiving ALL contingencies. As an Investor I am not down for this. We are still looking and have seen a few pop up that would be worthwhile. The Inventory situation is going to have to improve. Much of the over paying is being driven by primary and 2nd homeowners from LA/OC/SD ... the market will eventually correct itself. In the meantime we are watching, and putting offers on homes that 'only make sense'.