All Forum Posts by: Jennifer Jo McCallon

Hey Hector! I have a fun group on Facebook called 49 States Real Estate Investing. You can ask this there. I buy in Pittsburgh, PA and Braddock, PA. Feel free to give me a call for info on those areas. Good luck to you!

1. I am a realtor and when I buy in a state I am not licensed in, I use a realtor. You want someone trustworthy, hardworking and on top of things. Sounds like you don't have that and you just need a new agent. 

2. If you aren't getting anywhere over 10 years (was planning to invest in my 50s now have to wait til my 60s?), you are definitely doing something wrong or your agent is.

3. Good agents are not "gatekeepers" or "serving the interest of the commission" I don't know where you are finding so many terrible agents, but if you're in CA, you should call me. I'm super smart, and I'm a hustler.

I think it really depends on the situation. I manage my own, pay someone to be on the ground and keep an eye on things. But I also like to fly to PA to check on things myself- I enjoy visiting Pittsburgh (my hometown), so I don't mind showing up from time to time. It is usually an easy cheap flight, we have an airbnb where I can stay, so I don't mind. 

But there is no one-size-fits-all answer.

I was told by a lender in Pennsylvania that I could do 20% down, same in California. These are the two states where I own property. Ask around and call local lenders. 

@Caleb Stevens

We own here in No. California (Sonoma and Napa Counties) and in Pittsburgh. There is totally a great STR market in Pittsburgh- sports tourists, people visiting the museums, universities. And it is a great regional destination for shopping and sight seeing (incline, anyone?). I recently visited Milwaukee (not nearly as exciting as Pittsburgh) with my son to see a comedian- people have all kinds of reasons to travel, so I think an STR can work almost anywhere.

We have only been renting our North Side 1br for a few months, but it was booked as soon as we posted it, so there must be a market. 

Hey Calvin! I missed this- what was it about and how did it go? There is also a barstool investor event coming up June 22. 

We own a few STRs - one is a duplex- the upstairs tenant is full time and covers the whole mortgage. The downstairs airbnb is all gravy. I really like this business model- this property is in Pittsburgh, PA, near stadiums & downtown  and not too far from the universities. We also own two 30-day stays in Napa/Sonoma counties and both of those are working out well thus far. 

I like to- and I think it is important to- create a really great airbnb experience with fun things like games, puzzles, a record player, VCR (quirky things you don't find everywhere, throwbacks) or whatever works in your market/level of rental. Mine are all smaller, modest, reasonably priced, which keeps me in a good position regardless of the economy. 

I also like smaller units to avoid the party crowd. 

You are California, very tenant friendly, but I can't imagine Huntington Beach is like Oakland or LA where things are super crazy. That said-- just offer this person a chance to leave now. Sounds like they are trying to be a tough negotiator by acting and you need to be a grey rock. https://www.betterup.com/blog/...

Do not get sucked into drama. 

Most of the advice in this thread is great. Thanks for sharing your experience, it happens to all of us.

Where are you located and where are you thinking about buying? I am a big fan of vacation properties. Why? I love vacations and I love properties. Vacation communities are often less expensive than big cities, it is more fun to own, smaller, and you can do airbnb or longer term rentals. My first purchase (20 years ago) was a $65k cabin in the Poconos. My current favorite investment is a little house I own on Lake Berryessa in Napa County. I have duplexes in PA and other long term rentals, but vacation homes offer flexibility, fun and are more affordable and therefore less daunting. 

We just have streaming services. I don't have cable at home, either. There is so so much content available without cable.