All Forum Posts by: Account Closed

@Dan G.

Dan,

I see a lot of properties on the market for longer than one week (according to Zillow). The prices also don't seem that bad (compared to Portland), so I've been thinking about some SFR rentals. The company I work for just bought out another one there so I am taking that as indication they think the market will grow. I guess I'm looking for more information about Spokane as an investment area.

thanks!

@Max McNally I just listened to the podcast of Zeona McIntyre (episode 229) and she specifically had short term airbnb rental properties in college towns. Quick Zillow search turned up many SFR residences for under 200k with 2-3 bedrooms.

@Ryan Murdock Bangor, Maine eh? Probably drunk off of Lerouix Coffee flavored brandy

Hello forum!

I am curious - how many leads should a birddog get for their contact? I was aiming for 25-50 a week but literally have no benchmark to set it to. What has been the experience of those in the BP wholesale community?

Thanks!

@Juan Ayala Yikes! I did this to my landlord, but its a whole house we rent not an ADU or in law apartment. I do woodworking out of the garage and started an LLC so I could open a bank for tax purposes.

 In my mind, I'll change the address as soon as I move. My landlord ran his business out of the house until he moved so I didn't even think twice about it. It's not explicit in our rent agreement either so I just went ahead and did it. I think just having a conversation with him/her would be fine - they may not even know they did something wrong!  Usually that address is easy to change.

I agree with @Christian Bors, invest in yourself because that is one thing that continuously pays dividends! Learn and learn and learn and save until you find a good deal. Learn how to find a good deal here on BP and then look for those. Indiana should have plenty of good deals.

@Steve Moody You've got some encouraging advice, thank you! I will do my research and get some estimates together as well as put together a well thought out offer.  They might decline it, but that's the worst that could happen. It will be a good learning experience for me so I'm all about it.  @Jessica S. Sometimes I feel like this house is a chore for them even thought we self manage so much! If they're motivated to sell then I might be at the right place at the right time :)

Thanks everyone!

@Jessica S. They are not older (as in elderly) and I would not want, or ever want to, take advantage of them at all! People did that to my Grandmother and that revolts me. I left out the important details about how much work the house needs: new windows, roof, no AC, not even a fume hood in the kitchen, sometimes mold issues in the basement, broken windows, landscaping. we basically self manage which is at times frustrating. (For example, the dishwasher broke and the landlord literally told us 'you guys buy and replace it and I'll reimburse you' so I got a cheap one on craigslist for 25$...) and that's why @Onna-lisa Kyom is correct that maybe they would sell it for less because it needs so much work. I also don't think they really like managing the house at all. Unfortunately, I can't offer cash at this point which is why I was looking for some ideas about creative financing.

I was planning on asking them if they ever decide to sell it to ask me first. I'm pretty sure one of them was an investor in a past life so they probably do know more than me. Like I said, just trying to find some way to finance it that would impress them.

Hello all!

I currently reside in SE Portland in a 1500 SQ 5 bedroom, 2 bath house (tiny house for six people, a married couple lives here as well). There are a lot of people jammed into this house and that basically keeps my rent very low. I believe, however, my landlords have no idea how much this house could be renting for. Inner SE neighborhood, access to the new Orange line and Springwater corridor, it's a fantastic spot.

The landlords are VERY hands off and at times we worry that they might sell it. I'd love to get it from them before hand because it could be turning more than $3,000 a month easy. I would house hack as well.

The downside is its valued around 500K right now so I am not sure I want to try and give them that much for it. I am new to REI so I would want to get something like 1% return? What are some ways I could acquire this property? Do you think they would take $300K even if its valued that high? It's hard to gauge what they are thinking or what they know.

@James Phillips I've thought about the same thing here in Portland. Are you going to go through one of the Brokers classes offered by PCC or CCC? For PCC, its around $700 and 3 months of hybrid classes (both online and classroom) and this gets you the required instructional hours needed to take a Brokers license exam, as far as I understand. I am aiming for the first 2017 section to start.