All Forum Posts by: Keith Mintz

I'd do everything possible to buy in gentrifying neighborhoods sooner

I would do the same thing all over again.  We did live-in flips while stationed in a variety of places with the military. 

From there, I hand wrote letters to distressed owners of properties, and did some fix and flips. 

Lastly, we built wealth and equity with long term holds. 

I still like SFRs after 39 houses.

I've been living with my parents and I am planning on getting an FHA Loan to purchase my first home. I want to house hack and rent all of the rooms out (since with an FHA Loan I have to be a primary resident I cannot rent the whole house out). But I don't want to be living with strangers, I was thinking if I make my own room(something small like in the garage). and only sleep/be at the house half of the time will I still be considered a primary resident and will that be okay with FHA guidelines as long as I don't tell them?

Hey I have a client who needs a Manager that specializes in mid-term rentals. She is new to the mid term game and i don't have any managers that specifically have people that work with insurance companies or possibly nurses and whatnot. 

My MTR is in Mission Beach and is an MTR due to not getting an STR permit in spite of it having been an STR for 24 years prior to the STR quota. This is relevant because many STRs converted to MTR at the same time resulting in a significant increase in supply.

We have outstanding occupancy (in the high 90%) at a rate that is basically the same as LTR.  This implies our unit’s cash flow is below if it were an LTR because 1) we pay utilities 2) we furnish the unit 3) we pay MTR  PM fees which is near double the LTR rate. 

The hope is that with poor MTR returns that various operators convert to LTR and the supply diminishes allowing us to raise our rates while maintaining a high occupancy rate. 

We have done very well with this unit for many years. It currently is cash flow negative but it has had many years with outstanding cash flow. in addition, the property (2 units) has appreciated over $1m since acquired. No reason to feel sorry for us u less you feel the STR quota was unfair.