All Forum Posts by: Katrina Razavi

Awesome best of luck @Account Closed! Super exciting, keep this thread posted I'd love to hear how it goes 

If you're considering Napa/Sonoma area, I'd recommend you closely review STR regulations in those cities. As I understand in Napa, it's very limited with certain requirements you must meet in order to STR a place. If you assume that tourism will go "back to normal" soon, then most travelers will wanna be in the city and proximity/access to the city will be important so something to think about if you're considering remote areas outside of the city.

Hi @Wai Chan, I suppose it depends on what your long-term goals are. Another option could be you keep your DFW properties, but cash out re-fi based on their appreciation and then use that cash to buy something in SD (so you can do both) but of course you'd still be stuck w/ dealing with issues with your DFW tenants. That said, I'd bet that the DFW market will continue to grow and appreciate. If you just want to get out of having more properties to deal w/ then that's another issue and based on what I know about the DFW market, I don't think that you'll have much of an issue selling those properties at market or above market prices right now.

Hey @Account Closed! I'd also recommend house-hacking aka living in one of the units and renting the other 3 out as the better option. Your tenants will pay for your housing while you're building equity on the property. If you don't go down the FHA route, you're looking at 20-25% down payment. If you can qualify for an FHA and plan on living there, that'd be ideal and save you lots on the down payment. G luck!

Hi Greg, depending on what neighborhoods you're looking into, yes, it will cash flow just depends on "how well." Our properties are in Lakewood (in A type neighborhoods). Make sure to drive and take a look at the properties (or have someone do that) as things can differ street by street from my experience. Surprisingly, the market in Cleveland is still fairly strong (i.e. I was expecting prices to go down due to COVID, but they've maintained well, at least in Lakewood). But there are always deals if you're willing to look. Also this is a great site to get started w/ a bunch of referrals for folks you'll be looking for: http://www.clevelandinvestorpr...

Hi @Lauren Koon welcome! Parma is a great area with a decent tenant base and would likely make for a great rental. Nearby areas around Parma are also decent, but you'll have to decide if you want to invest in A, B or C neighborhoods and get specific on the type of property you're looking for i.e. homes vs. apt buildings. Also some areas can be spotty, so always best to drive around and check out the area to get a feel for it.

@Robert Carpenter curious to see if you pursued this idea further? I think in highly dense cities like NYC, a model like this could work super well. There was an interesting BP podcast episode w/ someone who had a model renting our rooms in single family house's that included amenities and such and was highly profitable.

Hi BP Friends! Question- we're in escrow on a property in Lakewood, 4-unit building (all 1 BR's) w/ attic space to potentially convert into extra units or potentially convert 2 of the units into 2BR units instead of singles. We have other properties in the area, but expanding this one would be the most upgrade work we've done to date. Interested to hear experiences if anyone has done anything similar? Namely timing, cost, and getting permits and such. Thanks!

Thank you so much @Jason Hsiao and @Don Carp, appreciate it and will let you know you sent me (respectively)!

Hi there BP friends!

We've been working on a 18+ unit project w/ massive delays and issues w/ the GC company. We want to connect w/ a RE attorney who specializes in construction defects and delays in the state of CA. Any help would be appreciated! If you prefer to PM me info, that works too.

Best,
Katrina