All Forum Posts by: Loren Clive

I did a multifamily first and highly recommend it. The downstairs unit covered my mortgage and I lived for free, qualified for more loans and bought 8 other properties over the next 10 years. Have refinanced, got a HELOC on it which funded other deals. It was the one that started the snowball. Still own it, and it cashflows $3k/mo! It's my baby

But I would look at all your options, run the numbers on everything and make the best deal you can

When they make private property illegal. it would be stupid to sell my cashflowing portfolio right now at the historically-low interest rates I have on my loans. Yeah, I could take the cash and run, but I'd have to reinvest it all to stave off inflation. 

This is an odd question for this forum.

look for deaf or hard-of-hearing folks

If they are good tenants, I would just charge them an extra $100 for utilities for the extra person. 

My hubby dealt with this on Maui. Homeless dude living in van on street, washing up at the rental. It was uncomfortable to say the least. Good luck!

Location. View. Uniqueness of property. For example, here on Maui 3br vacation rentals are pretty rare, so I'd be willing to pay more for that. Upside, i.e. ability to add value either through remodelling, adding bedrooms or additional dwelling, and/or self-managing to improve returns, etc.

I only invest on Maui, a market I know well. Not too concerned about population growth and/or employment since we have low unemployment and more people who want to come here than housing available.

One thing I've learned working with buyers is the vastly different definitions of a good deal. Some people just want a tax shelter that they can vacation in and break even. Others have a specific ROI with unique formula as to that calculation. So interesting what people want!

I would say buy yourself a house hack. If you're living out of an RV, you will be able to improve vastly your standard of living, get rental income to qualify you for more purchases, and enjoy appreciation on your home. 

Not sure what you're looking for, i.e. how you intend to make money real estate investing, but deals are getting harder to come buy in this smoking hot market, so I understand your angst.

Hang in there, and get rich slow!

tell them that you are their landlord, not their dad. also, they are free to call the cops if the noise violates a local noise ordinance. If they can't figure out how to live together peaceably, give them both notice. 

If you keep playing into the cop role, they will simply keep tattling on each other. DON'T DO IT

I have no idea about Canada, but here on Maui, having the second dwelling is a huge selling point! I don't get why you think this will limit buyers?

no

why are you taking advice from someone who's an employee? you ever heard, "those who know do, those who don't teach" No disrespect to your professor, but you gotta consider the source. 

I bought my first home as a house hack. I still own it even though, sure I could sell it in this high market 3x what I bought it, but I'm not going to find something else to equal the 60%+ ROI.

A wise man once told me never sell something that makes you money. If you're going the hacking route, sounds like you're a buy and hold investor vs a flipper. Having done both, buy and hold is so much easier and less stressful. You can't go wrong buying a cashflowing property

have you considered buying in your college town and renting to students? classic real estate investment.