All Forum Posts by: Dan Kennerson
Dan Kennerson has started 5 posts and replied 50 times.
Post: Should I buy this deal

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Who estimated the rehab? what does it include?
More than doing fixtures, floors, paint, etc, and you start tearing into walls, you're likely to find things you weren't aware of.
ARV of $700k, means if you sell it you're getting ~$650K, with 75K of rehab comes down to $575K, sounds like a lot of money and work for the ROI.
Post: First Investment Property!

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Definitely put everything in writing. Lots of family deals fall apart in the debate of what was really in that handshake.
Post: House hacking question

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Quote from @Darius Wade:
Yes, this is something that you could do. Since you already own the SFR you can simply change the insurance policy to cover yourself with tenants in the home and then on the new property utilize an FHA to house hack. This is a good way to begin acquiring more properties since after each year you could rinse and repeat. You just need to make sure the numbers make sense, and it will cash flow because you do not want to over leverage yourself.
This, plus, I believe FHA loans require you to live in them for a certain amount of time to get the low down payment. Be sure you can spend that time there to meet your loan requirements.
Post: Single Family Student Rental Investment with $1,300.00 monthly Cashflow

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Looks like a great deal.
How much are you setting aside for vacancy over summer?
What's your plan for CapEx?
Are you doing your leases to leave the property vacant over summer or doing a yearly lease?
Post: Multifamily experience on a W2 resume

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Investing in a BRRR deal requires a good amount of project management, and done in a way that is very self-starter-esque. I would definitely include that.
Property management includes fiscal responsibility, task management, and customer service.
The important part of how you talk about this IMO is the story behind the skill you are claiming. Did your tenants never make a peep? probably don't want to include customer service, since you didn't do much in the way of servicing your customer.
Did your project come in on budget? that would be a great way of showing leadership and planning, and you'd want to create your narrative to highlight that.
etc. etc.
Post: Property # 1

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
LOL. Ahead of a lot of us already.
Post: When They Ask: Is It Going to Be A Rental?

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Quote from @Jason Luhn:
Bottom line: if it's contractors, give them your specific expectations up front so that they will know what they are working to. If it's utilities/municipalities, just be honest since you're presumably a legitimate business, not a shady slumlord.
Since I wouldn't want to be a slumlord, be upfront and insistent on those three things regardless of whether you tell them your intentions.
Super important whenever dealing with a contractor- Set up a draw schedule and stick to it. Don't pay too much up front or you'll likely deal with issues finishing the project.
I hate to say it, but most contractors aren't as organized and put together as investors would like. the draw schedule protects both parties from the worst of construction problems.
Post: Roth IRA tax free

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Quote from @Greg Scott:
I'm super interested in this.
the way I've been thinking of structuring my future is the Roth IRA Shelter method, and my current thinking is that I can use a self-directed Roth IRA to start a LLC, such that when I use that LLC to buy property, the distributions come back to a tax advantaged account. Is this a No-Go?
I'm thinking I'll consult a tax attorney anyway but maybe the brilliance of BP can save me a few bucks if it's a known issue
Post: Who remembers when rates were over 17% ?

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Quote from @Bud Gaffney:
Will rates ever be in the 3's again?
I can't imagine the fed won't want to buy another boom with low rates. I just think it'll be five years from now.
the monetary policy of the USA basically requires more than the "target" inflation over the next 30 years, and money in motion does pretty good at that. but that 30 Trillion won't come without a few more boom/bust cycles, and I don't see the spending slowing down significantly in the next 20 years.
I'll just accumulate RE at prices that make sense with current rates, and swim in it when rates finally drop again and I can refinance them lol.
Post: My House Hack that I should've taken more pictures of.

- Rental Property Investor
- Sacramento, CA
- Posts 51
- Votes 11
Quote from @Eric Yu:
Nice! The property looks great - is it out of the Sacramento area?
yes, about an hour out of Sacramento between Marysville and Grass Valley. Very commutable for either of those or the AFB next door. Also has the bonus of the occasional U-2 fly-over.