All Forum Posts by: Jon Martin

Quote from @Brant Jones:

Hi @Micah Smith,

Is your MTR in SLO or the surrounding area? I am selfishly asking as I am about to submit an offer this week on a property in a nearby beach city. :-)

-Brant

Asking for a friend! Lol

Morro Bay resident here, happy to answer any questions about the surrounding areas. 

Looking at surrounding home values is a big one. 

Also like it when I a 1 bath with a large laundry room- makes for an easy(er) bathroom conversion. 

Quote from @Kyle H.:

@Adrien Abundes

With any average there are variables. I am way above the occupancy #s but most of my rentals are small 1 BRs and most would come in below that average $. I do all of my proformas at 55% occupancy and always suggest that # for any one looking at STRs. I think the 15% rule is a pretty good starting point for the $ end of things, and there are occasionally MLS deals here that will pencil out.

@Kyle H. Do you find with Bryson that you want to be in town and walking distance, or do renters prefer the rural experience? Is there a number of minutes from town where it becomes too rural? 

Thanks for your insights

Congrats! BTW your link is to all of the listings in 29 Palms, not sure if you meant to link your own property?

Beautiful country, great infrastructure (by developing world standards), friendly people, easy access to the US. Plenty of upside, but I have no idea about the legal aspects of buying RE and living there (property rights, Visas, etc)

Quote from @Luka Milicevic:

My bigger question is how do you find what would be a high appreciation market

Look to where people are moving, whether those are retirees or high paid remote workers. Especially those cashing out of traditionally high appreciation markets (NYC, CA). Look for cities that could be the next Nashville or Austin where the median price is on the lower side. Those places have far more upside to grow in comparison to the already expensive markets that are already close to maxed out. That's what led me to Greenville SC. 

Disclaimer: Amateur investor opinion here. 

Michigan native here. There's no reason to look at places like Grand Haven or Saugatuck if you aren't going after the beach crowd. Even if you are, the price to be close to the beach in towns along Lake Michigan is astronomical. Lots of big money from Chicago. The further north or east you go, the more value you get. 

If you want to cater to the inland stream and hunter crowd, then your options are vast. Look for places that are easily accessed from the highway from the places that you expect your market to come from that also have decent amenities. Also agree with @Michael Baum about seeing what places the blogs are talking about. 

Doom n Gloom

Crash is Coming

Sky is Falling

FUD FUD FUD FUD FUD FUD

Quote from @John Beasley:

My partner and I have done a couple of single family homes with foundation issues.

we have a good relationship with a structural engineer.

Other investors are are afraid of these deals and it's just baked into the numbers 

 I got quotes from foundation specialists ranging from $10-30K. Hired a structural engineer and it came in way less with no additional vertical supports needed, just replacing a band seal and adding some joists. I think a lot of the "stay away!" posts are from people who went with the foundation company route. 

When you see a company with a slick website that offers "free" inspections and has yearbook photos with dozens of guys lined up in front of their fancy wrapped vans and trucks, who do you think pays for that? 

Wayfair varies wildly in terms of quality. There are some gems and some complete junk as well. Returns can be kinda goofy too. 

That said, for wood furniture I think they have some good stuff or good prices.