All Forum Posts by: Eric R. Dehner

@Dan Heuschele

Thanks Dan. Just read a long forum post regarding HELOCs. Looks like PenFed is still helping people pull out money on rental properties. I'd love to see my mother in law keep this property in North Park and be able to help us buy a house. A HELOC may allow that.

@Andy Eakes

Hi Andy, sent you a connect. My wife and I recently moved back to San Diego. I've got a SFR in my home state of South Dakota. Looking to buy my primary residence in San Diego this year. Markets red hot and tough to stomach the prices. Saving grace is the low 30 year fixed rates. Anyways hope to meet you someday

@Nadia O.

Had a bud recently but a STR in Joshua Tree. It's already booked for the rest of October. Restrictions seem to be minimal and home prices still reasonable. You had someone comment above who seems to have their finger on the market. Reach out to her! GL

Thanks guys for the help.  We ended up going with Ace's Royal Brand Exterior Acrylic Latex (fog rolls in gray).  Turned out really nice.  There weren't a lot of existing cracks and unfortunately our small town Ace didn't have elastomeric paint on hand.  I guess I'll report back in 5-10 years on the durability of this paint.  We were very fortunate to have a professional paint gun that laid a very beautiful even coat.  

Hi guys, 

My wife and I recently moved back to San Diego California.  We are looking for at homes in this red hot market and realize we are getting priced out of the coastal cities.  My mother in law lives in Point Loma (Coastal) with her partner and has her original home (now a rental) in North Park.  This home has appreciated in value and she is now $400K positive.  

She would like to sell this home a roll that money into a joint housing venture with my wife and I. We would look for a property that has an existing ADU or the potential to build an ADU so she can still have rental income during retirement from the ADU.

What important points should we discuss when talking through this venture?  Has anyone structured an agreement like this?  Things that come to mind....

- 1031 exchange (rental vs. primary residence)

- Future sales agreement 

Any help would be much appreciated
Eric

@Curt Bixel. What did you end up going with? I just bought a house with stucco! Need to repaint.

@Keiyon Wayne

Find a local real estate agency in your home town, like a Century 21 or Keller Williams, etc and tell them you’re excited about real estate. Bring your resume and tell them you’d be willing to do anything for them. Ask to speak to a property manager in the building. They’ll have work for you.

@Keiyon Wayne

It’s amazing you found bigger pockets at such a young age. Two things come to mind.

1. Work for a real estate company. Property managers always need help fixing up rentals. You’ll make money and learn the business. That was my first summer job. I mowed the lawns of lazy college kids who were fined by the PM. I painted, fix drywall, bought all sorts of fixtures for the PM. It was fun.

2. Connect with a wholesaler in your area. Learn this and you’ll have absolutely no problem having a house by 20. You’ll likely be able to pay cash for it.

Good luck!

Hi guys,

Did anyone see this recent post by the folks at BiggerPockets?  I've been thinking of investing back in my home state of South Dakota (originally from Vermillion) for quite some time.  At first glance I thought how could my home state be one of the top 5 worst states for flippers but have 2 of the top 5 best cities?  It didn't take much time for me to come to the conclusion that the vast majority of the state would be very tough to flip in. Think of the demand for a well constructed flip in small towns across the state.. minimal at best.  What has been impressive is the growth in cities like Sioux Falls and Rapid City even during my lifetime.  Any flippers out there from Rapid City or Sioux Falls who are enjoying the fruits of their flipping labor?  

What about the worst states for house flipping? CNBC’s rankings included these states:

Hawaii

Wyoming

South Dakota

Montana

Mississippi

The cities where the survey determined the outlook is highest are:

Sioux Falls, South Dakota

Missoula, Montana

Rapid City, South Dakota

Billings, Montana

Peoria, Arizona

Hi All,

Are there are meet ups schedule for July 2020?  Hoping to catch one while I'm back home visiting my family.  

Thanks,

Eric

@Kaleb Carsten