All Forum Posts by: Mariam Dao

HI Bigger Pockets Family,

Since I have become a member on this platform a lot has changed for the better. I decided to turn my long term rental property into a STR and thank God I did!. It has made me double and some months triple what my rent of $1800 would have been and the best part is that I do not have to deal with a long term tenant beating up my property. This decision did not come lightly as I bought the property Nov 2020 and renovations were completed in march of 2021 but the property sat vacant for 6 months as I was screening tenants and even section 8 tenants. When I would select a tenant the paper work would not follow so I did my research on the demand on STR in my area. Air DNA rated my area a B+ for STR and I furnished the property listed it on Air bnb and got a 1 week long reservation 2 days after listing. 1 year later and the business is thriving. I finished my first BRRRR with that same property and now I am focusing on scaling my business. I secured a duplex as well as two lots with a property on one of the lots that need a ton of work earlier this summer.

Im in the process of completing renovations on the duplex to get ready for STR and then move on to tackle the renovations of the home that needs a Lot of TLC with the extra vacant lot. Does anyone in the jersey area have experience putting an ADU on a vacant lot or on their existing lot?

Can anyone give insight on putting your real estate assets into a Trust? I invest in the mercer county New Jersey area and I see a few different options but I wanted to see what advice I could get first before making a decision. Where is the best place to find a real estate CPA? 

Thank you so much for any help or insight you may have. 

Congratulations! This is so inspiring and motivational, You Did That!

@Ryan MoyerThank you so much, Im looking forward to coming to Orlando and getting a feel for the area. Thank you @Shawn McCormick I appreciate it!

I am also looking to get my second str. I have one in jersey and it is doing great. I just got pre approved for $600K from my lender and Im now on the hunt for a realtor in the Orlando area that can help out. As a New Yorker im not familiar with the area but im confident it will be well worth it. @Ryan Moyer Your Air BNB looks Amazing. Great job in that. Do you know any of the companies that help with the design factor? Thank you

Hi everyone. So I finally pulled the trigger and purchased my first investment property in Trenton. These homes have been selling like hot cakes. Every home I placed an offer on had multiple other bidders and mainly investors. Trenton is a high cash flow area which is why I bought there. I see a lot of potential there. I got my inspection done, I got an exterminator over. We found so many mouse dropping throughout the home and I got my vacant insurance the same day I closed. Now I have been getting bids from contractors. Since  I live 1 hour and 20 minutes from the home I put a lock box on there and when I speak to contractors they can take a look without waiting for me to come down. All of the bids I got so far are from referrals from my realtor, inspector. Some contractors are so busy that they won't be available until next year and then some that gave me bids are available right away which made me skeptical. I won't stop getting bids until I get the right contractor. Some say don't pull permits its not needed while others go the whole nine but they are also warning that they may be delays getting the permits because of covid. How did you find your contractor?

Hi Brian, I am yet to invest in any deals in Jacksonville, FL. I spoke to property managers and they have provided me with zip codes that they work in. So im constantly checking the MLS to see what I can find but it seems that they go very quickly. But since this would be my first deal I started to look at markets closer to me. This week I actually walked a few properties in mercer county in New Jersey and im actually bidding on a home with great potential. The bid ends tomorrow so fingers crossed. I would be comfortable doing the Jacksonville deal once I have some experience with my first hands on BRRRR deal. I was able to save up more cash within the past months which will also be a big help. Good luck to you!

@Whitney Hutten your tight I still have much more people to talk to to tie everything together

And see what each of them offers. Thanks for the feedback.

@David Abbate thank you for the tips. Just like you said it’s a dirty little secret. All the tips are out there except how to find deals that work.

@Pat Jackson since I am out of state is it best to find local banks near me in NJ to work with or should I look near the location of the property? I never really looked into the banks since I was focusing on doing a cash deal but this sounds like a good idea I can get kore house for my money. Thank you and the one year of interest only is something I never heard of before. I did not know this was even possible.

@Zach Lemaster I’m

Looking forward to our phone conversation. Thank you