All Forum Posts by: Kelly Pierce

I have a situation being that I’m an investor and a realtor where a potential client needs help finishing his remodel before selling. I’m curious how someone would structure a deal to both get the listing and make a little bit on the short term loan while protecting my investment.

Was reading this as I'm now looking for a policy in East Chicago IN and it's multi but only 3 units. I found that the quote is very different in IN than what I get in CA on my rentals here. I always have replacement value but they are SFH. Would you say I'm in the same boat? If so could we do an umbrella policy to cover the rest if there was a claim? Any recommended companies to call for a quote?

@Alvin Uy technically my property with the mortgage is not cash flowing but it is covering actual expenses. There was just no extra for maintenance and capital expenditures when I made this post. At this point I've made an agreement to raise the rent 10 percent beginning at the new lease period coming up in Oct. and the tenants have agreed to it. Basically if I calculate capital exp and maintenance etc. the way you should on the BP calc., I still need to raise rent another $200 in order to "cash flow" around $200. When I bought the home I didn't understand or know about these calculations and because CA appreciates so well and I knew I could cover them rent, it felt like a good buy. In the almost three years since I bought it I've probably gained $50k-$70k in value. So not terrible for sure. Wish there was a calculator for IRR

@Brian Garlington I hear you Brian and I’ve had the same experience. When I said no I want to buy 3-4 $150k or less SF they all start telling me oh no we don’t have anything or it’s only in the “D” areas and then none of them know how to run #’s and I’m trying to teach them and they still don’t get it. I was getting frustrated, this this discussion. I’m so glad I

put it out there because now I’m feeling better about a few markets and people at BP. As a fellow investor in CA would love to connect off here to talk if you have time.

@Ryan Evans I completely agree. Once I find a promising option I fully intend to fly out to see it for myself. As an agent and investor I need to see it and the area for myself before I buy. I’d like to talk this week if possible, I’ll message you.

@David S. I would love to stay here as I currently manage my own. Just don’t know if the returns will be there. Currently not seeing something I’d want.

@Jonathan Nixon let’s talk next week.

@Ryan Evans I would appreciate an introduction if you have someone worth speaking with. I felt you could in Ohio too and was hearing much differently. It’s hard to find realtors that know anything about working with investors when I’m so far from that area. Can we chat more?

@Ricardo Martinez I would like to hear more, I’m also in CA and having much less success than you.

@Justin Frank be careful with Oregon as the entire state just approved rent control. Doesn’t mean you can’t just be careful.