All Forum Posts by: Dan Portka

@Frank Lewis  send me more info. Are you a wholesaler? Add me to your list.. [email protected]

house hacking is a bit unique because you have to balance what's going to get you the best return while still being happy living at the property. For my house hack clients we always analyze the numbers that way so they can get a feel of what their returns look like when comparing all the properties they're considering. Being able to dollarize the tradeoff between property/location and cash flow is important in my opinion. I hope that answers your question.

hey @Christina Pehr, fellow LA Investor and agent here. BP and Instagram have been most useful for networking and connecting with others in my opinion. I always enjoy the @_milkhouse meetups, check them out on instagram. Alex Camacho / DealMaker meetups are solid too. Let me know if you ever want to connect or if i can help answer any questions.

@Sage Souther i strongly disagree with "always remove paneling". I have paneling in my rentals and my personal residence, none of my tenants have ever complained. I personally like the look of it in my house (its in nice condition). I'm assuming your BRRRR is not a HCOL area so probably most profitable for you to just leave it.

@Joshua Krilov note i didn't read the entire report. usually home inspectors list different priority/critical levels for each item they list. What I do is start with the most critical items and have those priced out by a contractor - you'll have the best chance at getting credit on them. Then go down the list in criticality and determine what if anything you're actually concerned about/want to fix now. Take into account your expected profit on the deal (I'm assuming this is an investment and not a primary residence), if the necessary repairs kill the deal for you ask the sellers for a credit - if they wont give what you need then cancel the contract and walk away.

@Colleen Keenan the flippers I know in the area are all different. Some are okay with 50k and some want 100k+ for properties selling for 1M. Depends on how much risk there is in the deal ie what could go wrong that would cause your costs to go up. Also depends how much cash you have tied up in the deal - you want to be looking at your return on that money considering how long it’ll be tied up

 The market is projecting rate cuts in the 2nd half of THIS YEAR. CME FedWatch Tool - CME Group

How much rate cuts for it to be considered "meaningful" is up for debate. My stance is ANY rate cut will drive house demand up as more buyers can start to afford mortgages again. Curious what others here think, but I think if 30 yr rates ease back into the 5%'s we will have already built out a bottom of the housing market. 

I've sat the last year out because of all the uncertainty, but i'll likely be buying again by the end of the year.

@Colton Hector I had a friend that lived right up against the 101 fwy in Echo park for a few years. It was an awesome house and I liked the neighborhood. I wouldn't be concerned about it. Your property and the surrounding ones have already been priced accordingly based on their location, so no reason to worry about long term value. 

Hey @Candela Rebot ! Fellow out of state investor from LA here. I’m not familiar with the Detroit market but I know there are plenty of investors and PMs on here that area. Try the search function on the forums I’m sure there are already posts with PM recs

Hey @Eann Tuan! I’m an investor and agent here in the South Bay. I know of a great PM in the area too. Happy to provide any referrals or recommendations!