All Forum Posts by: Lance Turner

The municipality has an application process but initial indication is that it's not overly restrictive in the area I'm looking at.  It's more of a tax issue than anything else.

I'm working on a new investment property. It has a standard 1600 SF 3/2 LTR but it has a 600 SF ADU 1/1 studio that I want to use as an STR.

Looking for advice since this will be my first STR.

1.  What are the best sources for atractive durable furnishings that minimize life cycle cost.

2. Any suggestions on how to avoid conflicts between the STR guests and LTR tenants? The house and ADU are close together but separated by a 6 ft privacy fence.

3. How do you protect your STR from bedbugs.

 This is really what I'm asking.  Are those opportunities gone? 4 rentals and retire.  Broke to FI in 2 years.  Did everything wrong but made $100K on appreciation.  Blah blah blah.

I love the Podcasts (I listen everyday sometimes multiple podcasts everyday and covered a bunch during a recent rehab) but there are a lot of those stories and I'm wondering if this opportunities are simply not in the cards for those of us building a portfolio today.

Wale,
Thank you!  I appreciate the encouragement. Will stay the course!

Thanks Todd.  That's great insight. I appreciate it and will look at new construction!  I've been playing the long game and will continue to do so, but what I am seeing is that my road is just more challenging than my sister's was and may not have the ceiling she had.  Wanted to see if that was other peoples experience or do I need to re-strategize.

Investors, 

I am in the process of building my portfolio.  I have 2 cashflowing SFHs and I'm working on #3.  I watched my sister build a portfolio beginning with a single house hack in 1994.  She added 1 or 2 additional SFHs over the next 10-15 years but really accelerated after 2008.  She wrapped up that page of life by selling an 8 unit, several SFHs and a couple small multi-family units over the last few years and transitioning to more passive investments. Needless to say she did well.

During that window I was serving in the military and did not believe I could invest.  I hear many testinonies of people that have absolutely changed their family trajectory through real estate investing.  When you do the math it seems most were heavily engaged before COVID and some even took advantage of the crisis of 2008.  

They were beneficiaries of some great markets.  I am doing ok, but my question is this.  Are the days of easy money through real estate investments gone?  Are we going to see returns that look like stock market numbers for the foreseeable future.  Did those of us that missed the opportunity after 2008, and most of the appreciation and interest rates of the Trump era just miss the train?  Are those kinds of opportunities just gone forever?  Can local investors in Real estate still gain returns that change family history?

Great insight. Thanks!

Thanks for the thorough response