All Forum Posts by: Kiki Helland

Hello Kyasha and others interested in these gentrifying areas.  LA is very rent controlled and those areas you mention as well. How are you dealing with repairs while tenants are living in the propety and/or raising rents to make the cash flow after improvements? I would think expenses are high if yo have to pay for relocation. Are you able to work good numbers if the property is sold with full or high vacancies?

Thanks for your insight! 

Hello Just a couple cents input... aside from investing... you say you are investing with co-workers... I’m an HR professional by day and you should consider if there are any conflict of interests policies in the workplace. You need to consider what can happen if things go south at work, in business, and who does the hiring/firing personnel decisions now or potentially in the future.. I have seen these types of things sour and get in the way at work and it doesn’t always end up pretty. Good luck though and happy investing!

Thanks for all the great tips! I’ll certianky look into it...

@lucas..

Thanks Lucas. How do you combine calendars? And how do you accept CC payments?

Do each of the big websites offer insurance? Or do guests send you security deposits?

I already use an electrictronic door lock and generate my own codes and send out welcome emails.. and respond to issues... but I’m wondering about other aspects of managing. I’d love to minimize costs :)

It's a good option for owners that do not live near by, and already have boots on the ground to assist with emergency maintenance responses and housekeeping/turnovers.  Evolve actually did an analysis for my market and they were able to write a spot on advertisement for my VR.  Evolve also put me in contact with my current cleaner and emergency maintenance company.  

I would love to have the luxury of living near my VR, but it's not possible at least for the moment.  Of course, any costs to maintain a VR are taken from profits, but without being able to have a management company handling the VR bookings, collection of rent., etc... it would not be possible to have the VR in the first place.   Local VR management companies take a much bigger bite percentage wise, and I found that they tend promote the more expensive properties they manage, and I wasn't getting the bookings that I get now. 

So, there is a place for Evolve and I presume there are other companies doing the same thing..

Evolve has worked for me. I can't imagine keeping track of a Calendar and keeping track of bookings for two sites or more and then getting double bookings. Evolve charges 10% but they ALSO charge 3% charge for the credit card payments. Does anyone know of software to run one calendar and how to handle credit payments? Thanks!

Hello BP community, I hope this is the best discussion on BP to post my questions!

I am diversifying my investments using a SDIRA that I intent to transfer my various traditional retirement accounts to.  My current plan is to take most of my retirement funds which will be more than $50K, so I believe it wouldn't work to set up a Solo 401K.  I plan to purchase either one, maybe two SFRs or MF in Washington or Oregon, and fund the rest with a non-recourse loan(s) to hold and rent with a PM. 

My dilemma is whether it makes sense to create an LLC to reduce fees for transactions. I have found some SDIRA custodians that charge $0 fees for ACH transactions, for example to receive PM disbursements, pay for maintenance, etc. Of course there are other fees to set up SDIRA, review/send documents, purchase investment, etc... I also see that in California, I need to pay a yearly LLC fee of about $800. So, moving forward that $800 is likely more than fees I would be paying to a custodian, especially if I plan to buy and hold for at least 5 years.

Does my thought process make sense? 

Also, are there other ways to purchase investment property that may be better suited to my situation?

Additional considerations:  

1. I am about 10 years away from retirement. Considering best way to grow passive income with less tax liability. 

2. My husband has other investment accounts that we will not use for real estate investment. He is almost reaching retirement age, but plans to continue to work. 

3. I work for employer that sponsors a 457K plan - no matching though. 

4. All my retirement accounts are free to transfer to a SDIRA..

5. We own other real estate investment properties in California and Oregon.

I'd appreciate any feedback!  And of course, we will do our due diligence with any investment opportunity we consider or are presented. 

Thanks to all 

Hi Jay I'd like to connect with you to locate investment properties in the Fresno area. I'm in SCV and would like to find another buy and hold in California. Not very familiar with the market in Fresno but I'm doing as much research as I can. Hoping to do some exploring in the near future to get a better perspective on the neighborhoods. I would also need a PM in the area. I also see there may be other areas around Fresno that have good prospects for appreciation as well. What is your perspective one that? Thanks for your assistance!

Hello, Is this property near Peachland and Lyons? Do you know if it was on the MLS before? Looking for Newhall properties with upside potential.

Betty congrats! You did it and you're on your way.. I've been eyeing the San Antonio market from afar. Did you work with someone to negotiate your deals? I'm also looking at MFs or duplex. Have you researched rules with adding ADUs? I have done well (by luck.. kinda calculated risk) in Portland and some stuff in California but nothing big. San Antonio seems attractive for investment. Are you local and doing rehab yourself? Good luck!