All Forum Posts by: Jeremy Oberbroeckling

Hello,

I would love to attend these events but they are all during the week. I am always traveling for work. Does anybody do any meet ups during the weekend?

Thanks

Jeremy

Hello,

I am trying to complete a seller's disclosure for a rental home we are selling in another state but I haven't been in the property for at least a decade. How do I complete it? I have been looking at old pictures and I have repair bills but should I just mark unknown for the items I can't verify?

Thanks

Jeremy

My name is Jeremy Oberbroeckling and my wife and I have lived in Phoenix since 2008. Before that we were living in Austin, TX which is how I got into rental properties. Before my wife and I married, she owned a property with a friend. Then we decided to get our own place and they decided to rent out the property. After a year at our new place in early 2008 my wife and I decided to move to Phoenix to be closer to her family, the market was in a downturn and we decided to rent our other property. We learned a lot about what we shouldn't do.

Currently my job is in clinical research and involves a lot of travel. My goal is to earn enough income from real estate to quit our jobs. I joined Bigger Pockets because I was very hands off with our two (2) rental properties and wanted to become more hands on. I have learned a lot so far and have determined the properties we currently own are not cash flowing what they should be. However, they have built up a considerable amount of equity. So my wife and I are in the process of selling them and will take the cash to invest in new properties that are cash flowing. First property is currently under contract. 2nd property's lease will end in May and we will then get it ready for sale.

Comps in the area are $250K but it would need a lot of work. They received a cash offer of $190K and they want to take it because they don’t want to put in the work to rehab it. It would give them about $80K in equity. 

Thanks for the help. 

I found a lot of great information on the podcasts how to find deals but there is no info on how to decide to get out of a rental property.

My wife and I started our real estate investing career in not the best way. We own two properties in Austin, Texas. The first property my wife bought with a friend prior to our marriage they could live in as a primary residence and I eventually moved in. Then after a couple of years of dating we decided to buy our own house and the other house was turned into a rental. After a year we decided to move to Phoenix. This was in 2008 and the market was on a downturn. So we decided to turn that house into a rental also.

So the 1st property is 30 years old and is falling apart. The property is bringing negative cashflow. So my question is how to analyze if a current property is still a good investment or we should get out. Are there ways I could restructure the loan to get positive cash flow? The market is doing really well and we could sell as-is and pull out the equity to use on a new deal. The partner wants to sell and my wife does too but I am not so sure. I don’t know if we should buy him out. Do I just want to keep it because I want to be a real estate investor? Please any help is welcome.

Thanks

Jeremy