All Forum Posts by: Jennifer Z.

I've been listening to the podcast since the beginning and I just wanted to take the time to say that @David Greene is a necessary element of the show. I enjoy hearing his thoughtful and thought provoking questions. He really bring the show up another level as an interviewer.

@Brandon Turner is a great host, keeping the show organized and upbeat. It is inspiring listening to your journey through the years to get to Hawaii.

And, I am sure there are many people behind the scenes setting up, scheduling and editing the episodes for our enjoyment and education.

So, thank you!

(Long time listener :))

Personally, we added a Daikin 2 head mini split system to our rental home installed by a local company. It was very pricey here on the west coast with labor involved, but I did get $920 rebate from our electric company. So, look for any rebates your electric company may offer.

The system is quiet, works perfectly, and the company comes out annually to service it for $100 (which means there is a warranty the company provides too). It was definitely an investment up front which is depreciated on taxes. 

Rent control is not a factor in my investing. This year we could still increase the rent 10%. If you want to have market rents and do not want to keep the current tenants or they do not have the ability to pay that, then you could not renew the lease and find a new tenant at market rents. 

The thing about it that can give me pause is purchasing a property with really low rents because it will take a long time to increase current tenants yearly or re-lease units. Just factor that into your time line and purchase price to be safe. 

Hi @Komi Dade, I like to use the county tax assessor's GIS maps to locate the tax lot, click on it, and find the owner's address. Then you can send a letter to the owner. You could also try knocking on the neighbor's doors to see if they know the owner's contact info. Good luck!

The question is what is your criteria for an investment property? 

Do you want to invest in 1/1 homes in that area? Do you understand the renters in that area, opportunity to increase rents converting the basement into another unit, and demand for this type of property? 

Regardless of the past financials provided, what are your percentages you appropriate for these expenses? Over time, the amount you spend each year will change, so it is best to overestimate in order to have a savings cushion when big ticket repairs occur.  For example, more conservative investors would estimate 40% gross rent for expenses excluding the mortgage and this could change the purchase price greatly.

Hi there! Wish I could meet up, but I am on the southern Oregon coast with very few BP investors.  

@Carolina Selva you should talk with Wade Ferguson LHFS- he's based in Beaverton.  He is great and has a lot of financing options especially for owner occupied loans like a renovation conventional loan.  Good luck!

You need to speak with the city planning department for your specific laws regarding where the property is zoned.  I would not trust an internet forum alone for the legalities.  This is specific to every state, county and city.

I love this strategy, especially if these properties would cash flow as rentals. One thing to note, with a HELOC you can only take out up to 90% of the home's appraised value. So, you would at most be at 117,000- 84,000= $33,000 HELOC for repairs, down payment and closing costs. It can be done. Also, consider how quickly you will pay down the HELOC once complete and get comfortable with the plan.

Thank you @Ashish Acharya for this detailed breakdown!  I was wondering exactly how you could accumulate that many hours without being a realtor.