All Forum Posts by: Flora Nguyen

Hello!

I’m looking for potential properties in the Palm Springs area for AirB&B investment - Here looking for someone knowledgeable in the area that can provide some insight and help with purchasing.

Thanks!

Hi , 

I'd check out  Summerlin ,Spring Valley, and  Henderson. They're good areas for long term rentals in that they're more suburbia /local living. I believe Amazon recently acquired a warehouse not far outside of Henderson (according to my tenants) I was also interested in duplex NW of the strip but inventory is low for multifamily and less than desirable neighborhood but overall , Las Vegas market is a good market to get into. 

Good Luck!

Hello BP community!! 
 I've been watching the milwakukee, WI market for a little bit and am ready to jump-in.. Wold love to talk some like-minded people. Does anyone know of any agent /PM from the area I can connect with

It would be greatly appreciated!! 

@Nicolina Nanni

I would find a really great property manager who’s verse in walking OOS investors through the rehab and TLC. I’ve use multiple lines of communication (phone , email, facetime , zoom) to connect with my PM at least daily for updates

Outline a timeline so it’s easier to stay on task with your team

Good luck

@Devin Monroe

The first deal won’t make you millions or will break your bank but it’ll get you into the investing water. It’ll teach you to thread water so I say jump in!

Good luck!

Hi BP! 

Does anyone have experience with seller's finance in terms of procedural and paperwork required? Is it similar to a conventional loan where you have to put a down payment or can you do zero down if the seller agrees? Is it just a promissory note produced by an attorney with type of loan/interest rate? Will escrow need to be involved and what would be their involvement? 

Thank you!! 

To my understanding , bank of america will only do HELOC for primary residence but other smaller /private lenders will allow you to do a HELOC on investment property. Have you tried to reach out to your current mortgage lender and see if they can do that for you? If they're unable, I would ask for any referral to ones that will be able to do that for you.

Good luck! 

@Austin Snow

I would give her 2 options. 1) she can break lease with 2 months worth of rent and security deposit — so essentially 3 months rent money paid to you.

2) she would be responsible for rent until you find a replacement. Hopefully it shouldn’t take longer than 2-3 months to get someone new in!

@Rada Vassileva

I usually get a sense of the town and neighborhood from my local rest estate agent , contractors, etc .. the people who have some experience and insight on the the neighborhood from a professional standpoint . Real estate agent (will know about the comps , price, , rent , neighborhood class, and schools around) ..contractor (can tell you about the types of home, conditioning of the property nearby) , etc.. In this particular time, I’ve also looked at the rate of unemployment in that particular city , average income per family and compared it to the state.

For SFR , I think it's a smarter investment to be in the B or B- neighborhood in terms of quality of tenant and rent security. When it comes to C or D neighborhoods, multi-unit is a good hedge of your investment. One bad tenant out of 4 is better than one bad tenant in a SFR. I can't stress enough a good property manager who is local and has experience in managing these kind of investments.