All Forum Posts by: Mariano Wahlmann

Thanks, I'll pay the report before jumping in.

Hi,

I'm wondering if anyone local in Chicago has any VR experience to share... I'm curious to see from experienced investor what the average occupancy is for short term rentals.

Based on what I see on sites like Airbnb, HomeAway and VRBO it looks like during the winter no more than 25% of occupancy.

@Chris Soignier I'm wondering what you'd consider secondary and tertiary markets.

@Corderos SMith I've bought my first house in 2014 in October for 263k at the time I was able to negotiate down. The same house 2.5 years later could be very easily sold for 310k given market conditions.

@Shital Thakkar. Yeah I know DFW has an influx of residents and is also one of the reasons we are looking at the area. We are mostly working around fort worth. As an investor I don't want to rely on projections and appreciation to drive my returns. I want the asset I buy to produce an income today vs. "maybe" tomorrow. Maybe other investors don't share this view. Speculation rarely pays-off.

@Daniel Y. You are right in an A-class neighborhood would be very difficult to get those yields we are looking at B/C class neighborhood. The reason we/I are investing in DFW is because I'm more familiar with the area, I moved to Chicago last year and I'm still trying to figure out how each neighborhood works.

My business partner and I decided to start investing (buy and hold) recently in the DFW area, and we noticed that most of the properties end up in a bid war, often selling about asking price. Single family, Multi-units, it doesn't matter.

For single families I can understand a future home owner falling in love with the property and paying above market price for a property, but for investors I honestly don't get it. We have target a 10% ROI (including equity for loan amortization) and properties end up selling at prices that would make returns on the 4-6% range (after all expenses, mortgage and capex). Our reasoning is that you can get an average 7% return on the stock market more passively therefore if we going to get active we need to be compensated for.

Are our targets unreal? or we are in a housing bubble?

Thanks everyone for the warm welcome!!!

All,

I've been lurking BP for a year now and I think there is ton of information here which, I admit, was overwhelming at the beginning. I'm looking to start doing my first deal and take real action.

As a long term objective I'm looking to build a healthy passive income so I can quit 9-to-5 job and do my own thing. I'm looking forward to building a team and get started and I'm sure I'll be in touch with a lot of you.

Hi,

I'm the owner of a 4br/2.5ba two story single family house that will be available for rent and since I'm moving to a different state I'm looking for a Property Manager or any recommendations. The property will be available mid-February.

These are the list of responsibilities I'm looking the PM to fulfill

- Bring the property to market

- Screen tenants (credit score, references, etc.)

- Prepare lease contract

- Deal with day-to-day issues (although I'm not expecting too many as the house is <10yrs old).

- Inspect the property on a regular basis (min: once every three month) to check general status

- In case things go south be able to evict tenant in a peaceful manner.

- Charge rent

- Provide regular (monthly) status reports detailing problems and other situations.

Is there anybody with good references that can do the job?

Thanks,

Mariano