All Forum Posts by: Wenqian Guo

Hello

I'm trying to purchase my first rehabbed rental property through Rent to retirement/RTR.

The inspection report came back and there are many issues. 

One is required safety issue, A GFCI outlet would not trip when tested. 

Other over a dozen recommended fixes:

Electrical: 

1.There was exterior wiring visible that was not in conduit

2.A GFCI outlet would not trip when tested

3.The weatherproof covering is missing on the exterior receptacle

4.An outlet box is loose from wall

5.An outlet did not register as being energized with an outlet tester or multimeter.

6.A light fixture has physical damage.

7.A light fixture was inoperative.

8.There was no power detected

Plumbing: There was no discharge tube connected to the tpr valve

Attic, Insulation & Ventilation: They were stained areas in the attic

Doors, Windows & Interior:

1.SEVERAL WOOD WINDOWS APPEAR TO BE PAINTED SHUT

Exterior:

1.An exterior door does not close or latch properly.

2.An exterior door is missing sufficient weatherstripping. This can result in energy loss and moisture intrusion.

3.There was some settling to exterior concrete. It is possible that this could become a tripping hazard.

Roof:

1.No chimney cap was observed

2.The chimney crown has cracks/deterioration. Water can freeze in between cracks in cement and lead to additional deterioration.

Other things:

The attic is full of trash, left over furnitures, the garage floor is full of left over wood chips.

Is it normal to see so many issues on the inspection report of a place just finished renovation?

How should I handle these issues with the turnkey provider? Just reach out to them and let them know? And how can I confirm these issues are addressed after? Do I need to get another inspection report done? And how do I decide which issues need to be addressed, or should they all be addressed before the property is closely? Should I negotiate with the seller to clean the place, and throw out all the trash, I have never seen a place so dirty during a showing before? 

How do you like investing in Kansas City, MO?

Is it a sort of mixed city? 

Anyone know what the market is like in zipcode 64118, 64145, 64128 in Kansas City?

How do you like investing in Akron,OH so far? 

Is it a location that don't appreciate much but have stable cash flow? Particularly in zipcode: 44310, 44320

How is the market in Akron different than Cleveland, OH? 

Thanks guys for the insights into the difference between ocklawaha vs Ocala. When I talked to RTR, they told me it’s the same market. Maybe it differs by zipcode, I’m not sure. But this is the location: https://maps.app.goo.gl/i1SgMR..., is this still the more rural, or same market as Ocala? @Sarah Roberts @Travis Main

Are there any turnkey providers in Ocala Florida? ( both new builds and or rehab properties) I was not able to find any, rent to retirements has some in Ocklahawa which is kind of close to Ocala…but from what I read on the forum Ocklahawa is a lot more rural than Ocala, and not appreciated as much, is this true ?

Hi I’m looking to buy 2 rental properties. Under 70k each. Midwest seems to be a popular market..but just Midwest in general is kind of vague..so I’m trying to come up with some practice areas to look to buy the properties.

What would be an practical cost/ cash flow annually ratio to decide if an area is worth investing. I’m thinking more than 7 or 8% at least, because currently it’s quite easily to get more than that amount investing in stock markets( but everything is overvalued and market correction will happen). So I’m ok with lower return on investment than buying stocks since it will be more stable in the long run. But I’m not quite sure what is the right ratio to seem for.

My goal is to have 2 rental properties out of state, and one one property in Bay Area to start with. I’m looking for them in parallel, but will purchase the one in Bay Area first because I quality for first time home buyer, and makes more sense using this opportunity for low down payment for the most expensive investment.

I’m looking for agents both in Bay Area and out of state. Please contact me if you are an agent with clients who house hack in Bay Area or purchased out of state properties. And get in touch if you know reliable property managers. Thank you so much.

Sorry for this long rant of a post. My main goal it’s to get an idea of what’s a good income/cost ratio, and find agents for Bay Area (primary residence) and out of state rental properties..

@Brian Garlington

I haven’t yet, I’m looking from San Jose up to Oakland, and either wide of peninsula would be OK. I would prefer the Palo Alto/ Mountain View side over Fremont/Hayward side though

@Chad Lewis thank you so much!

Hello!

Housing hacking seem like one way to be able to afford to live in Bay Area. I’m currently paying 2k+ per month for a tiny studio...would rather that money go towards my own mortgage instead ... I have around 200k saved up, and trying to pay as little as down payment as possible. Are there agents in Bay Area who can help me out on properties that are below 1 million..I’m a first time home buyer..I remember first time home buyer I can put down as little as 3% down payment???