All Forum Posts by: Jacob Prelle

Hello all, my wife and I are thinking of purchasing homes in the $50k to $70k area. Bit of background info: we are able to save $3k a month. That money can be used purchasing subsequent properties or as cap ex. We live and work in California. We will have a property management company mange our properties (we'll be looking for the right real estate agent)

End goal would be buying two cash flowing properties a year for 10 years, but we could change plan and look at buying higher quality properties in areas more likely to offer appreciation if the market drops.

Our rationale is that it is easier to achieve 1% at those properties. Looking for SFRs in the Memphis area. 

Of course, we're going to be looking hard at properties that satisfy our criteria, ie: medium to low input of rehab cash, located near a hospital/university/downtown area/etc.\

Thanks ahead of time for the advice.

@John D. Yeah, I hear a lot of negatives about it. I think I'll keep my distance. This lease is up in 2043 aaannnnd the house is fairly new, so they'd likely renegotiate at that point. I'm also afraid of the difficulty in selling down the road. I won't bother. Thanks

My wife and I have been debating on buying an STR in Palm Springs, CA. The house is beautiful and can certainly net me a higher profit than a property without a land lease (with a land lease = typically a nicer house. Without land lease = random nothing special house). My question is about whether a land lease is one of those "barriers to entry" that are manageable for us, or is it a bigger headache? I've read that the owner of the land (Native Americans in this case) lease the land and renegotiate the lease when it's up. They have all the power. FYI - house costs about 385K. Monthly land lease payment is $117 We would Airbnb the property. 100% Thank you!

I'm new to the idea of AirBnb (or VRBO/HomeAway etc..) for my real estate investments. I've come across the website Eliotandme.com and see there MAY be a potential to make more money on my investment as opposed to renting out.

If this website is accurate, I'd like to make my first investment property strictly an AirBnb property and in the event legislation changes or some other plan altering event occurs, I can revert back to my original plan and rent it out to tenants. I plan on living 1 hour away from the house. I live in CA. House will be around $400K. SFR. Close to the beach. Probably in the city of Oceanside.

My target city currently has no limitations to STR. Beyond, the Transient Tax, and potential changes to legislation annually, what are some hidden problems I may encounter? Any advice at all is greatly appreciated. Thank you!

(yes I plan on buying some books to study more before actually doing this)

(book recommendations?)

@Bruno C. Yeeaaahhhh sorry about that. My mistake. Eliotandme.com

I'm looking at properties in the Oceanside CA area and hoping to make it an Airbnb. According to the calculator, I could make $1,400 a week. Am I missing something? That seems crazy high but if it's accurate, i'm buying! Thanks

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*This link comes directly from our calculators, based on information input by the member who posted.

@Jessica Wygal We've decided to wait on our personal home and jump into investing. We know we can't time the market, so waiting for a correction isn't going to happen.

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*This link comes directly from our calculators, based on information input by the member who posted.

@Jessica Wygal

Nope. We haven't made any moves yet but I feel closer than ever and we're researching properties using the rental calc. .. so I'm optimistic.