All Forum Posts by: Logan Turner

@Jeff Berg Great suggestions, Thanks!  That is actually part of the high school, administration building. 

I like the ideas. Has anyone tried using sedum sarmentosum? 

Ryanne Hodson the lot is 10k sq ft. Haven't measured the backyard but it's a decent size. Not huge but big enough to utilize the space and maybe get a little bit higher rent. I think the no fire pit is probably a better idea.

I have a property I'm just finishing up rehabbing. It's going to be a rent house short term and possibly sell it in 2 years. Any suggestions to make the backyard decent? It's a dry almost desert climate. No sprinklers or water well so will not be grassing the backyard. Would spray some weed killer down and have some churn the soil so it's dirt, Maybe lay some stones down and make a stone fire pit? Any ideas appreciated. See picture below 2/1 1000 sq ft. C neighborhood, but neighbors are nice houses. Right by high school. rent $1050 (to get an idea of recommendations) i'd prefer to keep expenses minimal.

Michael Daniel can you send me a list for Texas and California?

Ok, here goes: Your max number is 170k. That tells me your debt to income is probably a little high and almost guarantees that you will not be able to buy two different places. One now and then another one in a few months. I would definitely wait until you can see one in person too. You need to walk the property, get a good sense of the neighborhood. Does the neighbor play loud music and have a pit bull on a chain? Google street view is amazing but since you will Likely only be able to purchase one property in the next 12 months, I would wait until your back in the states. Single family is nice but if you want a place to live for yourself and you want to start collecting some rent, then look at 2-4 unit places. Duplexes with a yard are great. Must read list: Brandon turner the book on rental properties The millionaire real estate investor by Gary Keller Investing in real estate by Gary eldred what every real estate investor needs to know about cash flow by frank Gallineli Read all of them, in no particular order. Pick an area to focus on and go from there. I would 100 percent without any doubt go the duplex route. 4 plex if you can find a nice one. You get a place to live, you get to practice being a landlord. You can go slow, no pressure to rush to find a tenant (pick a good one not he first one), hopefully it's a little distressed and you can fix it up a bit. Get some sweat equity out of it. Then in 12 months buy another one and you have 3-7 units rented and your living in the other one. Look up BRRRR strategy

Originally posted by @Michael Bardelmeier:

@Logan Turner - There are also some additional programming & staffing requirements to operate larger than 6 beds in CA.  Many operators (licensed administrators) have a caregiving background and don't necessarily have (or want) the experience or managing staff.  Therefore the 6 bed "board & care" concept is very popular. 

 So are they able to run the "board & care" model by themselves? I can't find any laws that require a ratio, other than having an operator available during daytime and on call at night.  I was running some numbers and it seems a 6 bed board and care would not be feasible as a investment, without creating a full time job for oneself. 

Found the answer after doing some digging, if anyone else is interested.. zoning laws

“No conditional use permit, zoning variance or other zoning clearance shall be required
of a residential care facility for the elderly which serves six or fewer persons which is not
required of a family dwelling of the same type in the same zone,” Health and Safety
Code section 1569.85. In other words, the City Planning Division cannot require special
permits for RCFEs with six or fewer residents.

I guess the question is, how hard is it to get zoning for a 10-16 bed unit? Looks like 90% of these facilities are 6 beds and fewer. 

California questions: RCFE's (Residential Care Facilities for the Elderly) can care for six and few residents, but assisted living facilities can care for more than six. I read this on the state site 

"It is important to note that both Residential Care and Assisted Living facilities operate under the same regulations regarding care services and the differences if any are due to a particular facilities program and not differences in Community Care Licensing regulations"

Why are there so many 6 bed facilities when the licensing and regulations are the same to have 10-16 bed places? Am i missing something here? Why not buy a larger house, convert it to a 10-16 bed unit vs a smaller house as a 6 bed? 

Originally posted by @John Howdyshell:

Interesting Jay:

Looking to find funding for construction debt...LTV55%[secured] ...all I have found is scams...believe it or NOT  22 out of 23 have been SCAMS...#23 was 17%+  What happened to the REAL LEGITIMATE Private Lenders?   Can anyone direct me to just one "legit"  private lender?

JohnR

Its been the same for me. I have a deal in contract at 50% current value (MLS comps using two agents) and i'm willing to put 50% skin in the game. So 25% LTV and I'm willing to have short term financing 6 months... Best offer was 22% LOL. So i found another investor and JV the deal.