All Forum Posts by: Dj Larsen

@Henry Clark

Henry - Can you talk with my kids too?  I use similar words but my "Dad tone" does not carry the same weight.  Appreciate the patience and consideration of your responses.  

Thanks to everyone's response & recommendations (Love the idea of the teen REI book). Very helpful in framing the conversation with my kids.

@Vashist Dhanani - Sounds like you have caught REI bug early. How are those conversations going with your parents and their REI plans for the future. This is a great community for encouragement and inspiration (for all ages).

Thanks for the thread Anna & Marlo,

We are pursuing "Shared Ownership" with a small 4-plex.  The Owners Agreement has been a big help as it delineates the exclusive use/rights and shared rights to each area of the property.  Andy Sirkin (fantastic legal team from SF) has a library of free online articles and a set of agreements to purchase, to help you on your way to become a Subject Mater Expert. 

https://andysirkin.com/article...

Elizabeth and Christina (The Rental Girls) have done a great job pioneering the shared ownership (TIC's) model in Southern CA. Their videos, webinars and web content have been a huge help in presenting what the concept of shared ownership looks like in real life.

https://therentalgirl.com/tic 

While these are primarily Ownership oriented, I hope you will find it helpful in managing the "shared" aspect of your rentals... OR it may be the spark needed to build out your next RE revenue strategy.  

Please keep us posted on your adventure.

DJ Larsen

Paul & David - Hoping you are getting more TIC feedback away form the forum. I've been looking at a lot of TIC posting that are years and moths old. We are interested in converting existing properties into Shared-Ownership via TIC's. We have several sets of parents who do not like their options for care in the future. They want to live with friends, care for one another and share the cost of care once it gets beyond their ability. We have floated the idea of "Aging in Community" as co-owners of a great large format home. I am searching for mortgage packages that are TIC focused. So far, no joy.

Would you please ping me with any leads you come across? I am also interested in developing my TIC intelligence, please share your TIC stories.

Thank you DJ Larsen (Bay Area REI)

Hi Toney - How did the TIC purchase go? I am interested in the process as well.

Good luck - DJ Larsen (East Bay REI)

Hi Anna - Its very kind of you to pass along your real world information.  Are most traveling healthcare professionals arriving at their new location with their own cars?  I am asking since we have several Prius' (plural for Prius, I hope), we picked up at auction.  Our intent is to provide valued services to our short term tenants who are typically flying in.   We are using Turo, so all the back-end and insurance issues are taken care of.  The vehicle would always be available onsite and cost $25/day when used.  Any other wish list items that traveling compatriots would enjoy?

Thank you - DJ

@Chris Mason - That makes sense. I need to slow down and pull my eyes off my spreadsheet (planned budget). Thank you.

@Mujahidul Huq - That is a great option! We are focused on large value add homes (& small units) for group living for active seniors. It's more rehab capital, but the rents are 20-30% better than typical long term tenants. We get higher cashflow, grateful tenants, less wear, and forced appreciation. I Would enjoy hearing more about your ideas involving a higher level of care (how its done). Thanks DJ

@Chris Mason - Can you explain what you meant by deferred payments? My math is never great, but your idea could make me a hero with my financier (my wife). Thanks DJ

Great conversations and incredibly timely. Would appreiate input on our first cashout refi. We are doing two investment properties with same mortgage broker (SFR & 4plex).

Are fees out of line?

SFR:

Purchase Price: $250k in 2016

Appraised: $578k

LTV: 75% @ 4.25/fix/30yr

Total Fees: $14k

Cash Out (-fees): $247k

Rents: $2,200 (adding 2nd 2/1 unit)

4Plex:

Purchase Price: $375k in 2016

Appraised: $745k

LTV: 70% @ 3.99/fix/30yr

Total Fees: $22k

Cash Out (-fees): $246k

Rents: $5,200

Scott & Zach,

Thank you for taking the time to engage. I am checking into the Serial LLC and identifying how self rental rules will impact my investor/parents.