All Forum Posts by: Ryan Randalls

So my question is, if I purchase a home With an FHA loan and I have a Co-owner do we both have to live there due to it being owner occupied? Or can we arrange it so that only one of us lives in the home? I'd like to purchase a home out of state and was hoping to find a loophole to get it cheaper. If needed my wife can live in the house if marriage plays a factor?

I'll start by saying I'm very new to real estate, I'm looking into doing a live in flip in my area and there is a 1bd 1ba that can use some basic updating. But my question is; 

would it be worth adding a bedroom? 

I mean fully expanding the house. I know thats a big project for a beginner, but there is a big gap in price and days on market between 1 and 2 bedroom houses. I'm mostly just curious, 

What's the typical price range for such a project?

I Know it depends a lot on area, the contractor, permits, and a lot of other factors. I'm just looking for a ballpark figure, nothing super special, just best/ worst case scenario, and to expand my knowledge on the subject. Has anyone has done something similar successfully or unsuccessfully? 

If it helps my area is Frazier Park, CA it's in Kern county, south of Bakersfield, CA

thank you! that makes a lot of sense, that's probably why rental prices were a little higher than I was expecting. there does seem to be a majority owner occupied homes in general do you think lease options would be a good strategy?

Has anyone here on BP invested in Frazier park/ Lebec? what are your experiences with the market in the area?

hey everyone here on BP,

My name is Ryan Randalls, I am just getting started with investment real estate. I haven't gotten my first home yet, but it shouldn't be too far away. I am still learning the detail of the starting process, and would love to hear any and all advice about the market here in Bakersfield. I look forward to meeting you all. =]