All Forum Posts by: John McDonald

I would research doing a lease option for the person willing to rent. 

Each have their own unique qualities that may be a better fit.  Take a trial of all 3 and see which one works best for you. 

Cheers

@Jason Hutcheson I would suggest moving everything to an LLC ASAP as it help limit your risk exposure. As @Ko Kashiwagi mentioned, its also import to separate your business and personal bank accounts, so once you have your LLC setup, setup a bank account and begin transacting there. 

Create new LLCs for joint ventures using the same process. This keeps the books clean and helps the members avoid unnecessary liability. 

Cheers and good luck. ,

Both are very tough markets for investments with any prospect of near term cash flow. There are very few "deals" in the area as solid investment properties are snapped up before they ever hit the MLS. Long term appreciation outlook is solid for Sacramento. Many of the bay area people are moving there for a better lifestyle. I lived there for 15 years and just moved recently. My brother-in-law has been in an investor and commercial broker in Sacramento for 30 years and these last few years have been brutal.

Good luck. 

@Lily Rodriguez Charlotte is in deed a great market. We're showing more than 250 undervalued properties and the Charlotte market is experiencing strong growth. 

A Flip or BRRR strategy for finding an undervalued property for LTR would be ideal in this market.

Best of luck. 

Make sure to follow up with the costs after you get your GC with the final bid. Let us know how it worked out.

Check referrals on the contractors and handymen and keep several in your back pocket for emergencies. Assume they will no show or leave for another project. Constant communication is crucial. Managing the project is key. Don't underestimate staging.

Nik,

A few additional items. Vacancy costs, accounting fees, HOA fees if any.

If you're planning to keep the property, get rid of the carpet and replace it with durable vinyl flooring. It's cheap, looks good and will save you in the long run. 

Cheers,