All Forum Posts by: Kyle Tusing

I would definitely be interested! looking to expand my multifamily portfolio and always looking to learn more!

From my experience running rental comps, there is not a noticeable difference in the price of new construction vs newly renovated. You may have someone who favors the new construction and picks it if they are deciding between a new construction and a renovated property but 99% of the time people would not pay extra simply because it is a new construction.

Would try showing up at the residence first and see if you can get an idea of what exactly is happening. In situations like this, I find it is best to try and stay calm and not show you are angry. 

 So would you say beach boxes are easier/have more cash flow than say a bigger beach property with all the bells and whistles? It's probably a year or two out for me however a long-term goal of mine is to have a beach property. 

Nice deal, how has the experience with STR's been for you? do you just use Airbnb? Do you manage it yourself or have someone manage it for you?

Hi, a great deal! The only follow-up question I have is about the location. I think it is awesome it works as a student property and a beach rental.

Hi, so from my interpretation it could just be the loan or the servicer that the lender uses that requires it to be at least 100k. I have seen this before because it does not make sense for them to lend under 100k due to the return they receive. The two options I see are to continue with the loan take the 100k use as much of the extra 60k for renovations and then use any extra for another downpayment, or once the renovations are complete refinance and roll the extra money into the new loan. The other option would be to find another lender that does not have the minimum, or use hard money.

Looking forward to the event!

Hi, not sure about your budget however looking for a duplex/multifamily property, a home with an in-law suite, or a basement finished or one you can finish that could be used as more of a private suite would be beneficial. It is easier and more sustainable if you do not have to worry about living/seeing the tenants every day. As far as finding a deal essentially you have two options, find the deal yourself, or work with a wholesaler/Real estate agent to have them bring you deals. By finding the deal yourself you can save money, and along the way could attempt to wholesale any deals you decide to pass up, but you have to trade your time and effort. By working with a wholesaler or a real estate agent you save time and effort and just have deals brought to you, but obviously, the wholesaler/agent will need to be compensated for their time and effort. 

 I see the perspective you are taking, and I can see where you get that thought originally I had the same opinion. But the fact they allowed her to "rent" it back at $1.00 in my opinion shows that there was no ill intent. Think about it this way, many people with elderly parents/grandparents inherit properties from them without ever even taking care of them in their final years/months/days. Now they are actually assisting her and caring for her well-being and putting her in an easier financial state for the remainder of her life and they are bad people for paying for a distressed property at a discount? I'm not sure of the full details but even if the neighbor had family members they obviously do not care for her fully so I believe they would deserve more right to the property than whoever might have inherited it. Also, it is not fair to assume they did not advise her on the value and assume it was all malicious without knowing those facts, that is the same as saying someone is guilty until proven innocent.