All Forum Posts by: Eric Janson

Paying off the debt might give you peace of mind, but if the debt is not hurting your ability to be pre-approved, I would actually use the to try and buy another property beyond what you are talking about.  I wouldn't pay more towards the down payment.  The less money in the better, I feel.  As long as the numbers are good and it has good cash flow. 

This is just my 2 cents.  I would do what makes you the most comfortable. 

I would also go with the cheap countertop microwave option.  I would be concerned that if I replaced it with a nice new unit, they might damage it.  Interesting how important microwaves are to people.  I remember as a kid not having one and cooking everything in the oven or on the stove.  

If this leads to World War 3, then it would probably have an effect on the entire economy, but I don't think that will happen.  If it is a small skirmish or nothing at all, this will have zero impact on us here.  There is always a "sky is falling" story out there about real estate.  Sometimes they come true, but 99% of the time they don't.  I agree with the other statements.  Turn off the news and focus on what you can control.  The glass can be half full or half empty.  It is up to you how you see it. 

I see the same thing in our market.  Investment properties are selling for well above what makes sense to cash flow. I think people are banking on rents and prices continuing to rise, so they see the short-term pain to be worth it.   I am still seeing deals, though, but they are harder to find.  There seems to be more opportunity in the rural areas where prices much lower, but the rents are not too different.  Properties cash flow better further away from a big city, but that leads to a list of other challenges. 

You are going to want to check with each city and Homeowners association (if there is one) on whether or not they allow STRs.  Also, what those cities rules and restrictions are.  They are all different and they make changes very often. 

Great Job!  It looks great! 

I hear this from investors in my market and while it is not easy, there are deals out there, you just have to turn over a lot of rocks. Off market is a lot easier right now, so maybe work on networking with other investors in your area. We are seeing that some landlords would rather sell off market because they don't want a million showings disrupting their current tenants, even though they would get a much higher price going on the MLS.

Have you tried Been Verified?  We use that to search for people.

Sometimes you can't find good comps close by a property.  You might have to go further out.  I have talked to appraisers before they will continue to go out until they find comps that work.  However, before that I have tried going up or down 1 bedroom or 1 bathroom.  Before I was an agent, I struggled as well because it can be hard to find things through zillow or other means.  Maybe figure out how to partner with an agent who can help with comps. 

Unless you are going to manage it, if you rent it, then a good Property Management Company.