All Forum Posts by: Justin Kerstetter

My wife and I purchase a SFR last April in Northern CA. (Redding) with intentions of turning it into a long term rental. We also have thought about turning this property into a short term rental as well due to its lack of yard and location. However, we are not as well versed on the short term rental side of things at this point. Our question is with the eviction moratoriums being extended federally as well as in CA would we be better off turning it into a short term rental to avoid getting a long term tenant placed just to have them stop paying the next month? We don't mind the additional work but just want to make the best choice possible being that this is out first property. Any input would be much appreciated. Thanks.

@Bonnie Low Where are you guys planning on relocating to?

@Karen Margrave Thanks for the response. I will have to look into reaching out to NFCU. I have an account with USAA so I may get a hold of them as well. Thanks again.

Bonnie Low Thanks for the response. It is really nice to see someone from our area on BiggerPockets. I have been working with Chris Lamm from Commerce Mortgage and will reach out to him to get his thoughts. I mainly wanted to get some other investor perspectives as well. I will have to contact Tri Counties bank as well as Members First to see about their lending programs. Have you worked with anyone in particular at either of these banks? If you don't mind me asking what sort of investments have you been making in our area? We are planning on focusing on long term rentals and possibly getting into some short term as well. Thanks again.

My wife and I are getting ready to rent out our first LTR in Redding, CA. My question is besides the signed lease agreement what documents are you required to give the tenant? I.E. bed bug disclosure, lead paint pamplet, etc. Any input on this would be much appreciated. Thanks.

I am a disabled veteran and my wife and I purchased a SFR with intent of turning it into a LTR this coming April. At that time we will have occupied the home for 1 year. I used my VA loan to purchase the home for $270K in Northern CA. I know that the loan limit in Shasta County which is where I am located is $548,250 starting 2021. My question is if we are planning on repeating this process what would be the best plan of action to take? Should we use the remaining $278,250 of my VA benefit for the next property?

When we go to purchase the third property would we need to refinance the first into a FHA in order to purchase a third? If yes would we need to put %20 down on the first property since it is no longer owner occupied.

I know investors use the owner occupied strategy to purchase properties, but I am a little confused as to how the best way to execute it is. Especially since I am elegible for the VA loan. Any input would be greatly appreciated. Thanks.
 

I am a fairly new investor that is looking to start a part time handyman business. After reading numerous books by other investors it seems like one of the common themes is finding a handyman/contractor that does good work, reliably shows up, and completes jobs on time and on budget. That got me thinking that with my experience, training, and hard work ethic that I should start a handyman business as a way to bring in some additional money to save for investing; as well as a way to connect with other landlords.

I am looking for other investors opinions as some of the best ways to connect with other investors in my area that may be looking for a reliable handyman (Redding, CA.)

Any advice would be greatly appreciated. Thanks.

@David Frandsen I am thinking I might house hack a multi-family due to the market being so tight. So do you still invest in the Redding area I noticed you are in San Diego?

@Karen Margrave thanks for the response. I will definitely set up keyword alerts. I also signed up for the meetup on Feb 13th and look forward to connecting with other investors and see how everyone is navigating this market. 

So because of this lack of properties on the market and the influx of students with Bethel do you see the rental prices increasing over the next few years? The rent to purchase price ratio in the Redding area seems a little low especially given the demand for rentals. I know that people are doing really well with short term rentals in our area and given the changes to the additional dwelling units in CA that may open up some additional possibilities.