All Forum Posts by: Martin Gonzalez

@Philip Joseph Thanks for the insight. And I'm glad you mention Warner Robins as that is where I grew up and I'm looking into it as well. I wonder how much more that 65K house ended up selling for. It's quite similar here in Utah as well. I saw a fourplex earlier this week go on the market and it received multiple offers the same day, and it was listed at $850k

Have you identified any other areas near central GA with a "new Warner Robins" potential? What about Fort Valley, Byron, and Perry?

I'm planning a trip there next month(if I can identify a good realtor and PM that I like) to learn more about the investing scene there.

Thank you @Jason C. and @Lee Taylor for the feedback. How have Macon and Warner Robins changed in the last three years? And do you guys know any good realtors and property managers in the area that you recommend?

I'm living in Utah and I'm looking to buy my first out-of-state deal in the coming months. Any help will be much appreciated.

Thank you all for your replies. We decided to wait a little longer before changing the price and got two applicants a week later one of which got a pproved! :D

Thanks again for all your help!

@Michele Fischer Thanks so much for your reply. That's a great idea and will immediately start asking.

@Caleb Heimsoth That's what my first thoughts were but then doubts started creeping in. Thanks

@Scott Mac It doesn't smell like fresh paint at all or anything weird. Thank you

@Account Closed Thank you for replying. We used rentler, facebook, cozy.co, and zillow. We just got a second applicant so if they are not a good fit, I think we may just have to lower the rents eventually. 

@Bob Okenwa:

1. We had two property managers give us an estimate on how much they thought it would rent for. One said 1500-1600 and the other said 1600-1700. We listed for 1600

2. According to rentometer the average rent for a 5 bed 2 baths the average rent is 1308 and the median 1488 in a 5 mile radius

4. We used cozy and postlets to post. Here is the link to the listing: https://home.cozy.co/apply/#!/685091/426049/overview

5. Honestly I don't think the neighborhood is so good but I don't think it's bad either. It probably doesn't help we're right next to an 8 plex. 

Thanks for your reply!

Hello everyone, I hope you are all doing well. 

 I need some feedback on a property in Utah County we recently bought and listed for rent and I'm hoping you'll be able to help.

It's a 5 bed 2 bath home with a one bed one bath accessory apartment. We live in the apartment and listed the main home one week ago.  A lot of people have come through it but we have received only one application. Is that normal? Should I be concerned yet? Or should I consider lowering the rent?

It's our first property so we really don't know.

Thanks

@Megan Phillips, We still need to find a realtor. I had originally planned on going with the same realtor that helped us buy our primary home now but his answer about the FHA loans makes me think he's not very familiar with investment properties, so we'll need to find someone who is. Thanks for your reply.
 

@Lydia S. Thanks for replying. I will do just that. Thanks!

@Omar Khan Thanks for your reply. I had heard the same thing about the FHA owner occupation rules, but we are planning on staying for a year so we should be fine there.

@Samuel Collier Thanks for replying. That's what I was thinking based on some of the blog posts I've read on BP I just wasn't sure. Thanks again.

@Harjeet thanks a lot for your reply! do you think my wife is considered a first time home buyer  though? Like I said the house is under my name only and so is the loan.

Hello, I'm new to BP and have a few questions. I've asked a couple of realtor but they didn't know.  So here they are:

First, my wife and I purchased a home with an FHA loan a couple of years ago, we then refinanced it into a conventional loan. Do we qualify for another FHA loan? I had one realtor tell me that as long as the new home is more than 100 miles away I should be able to but that seems weird to me.

Second, since my wife is not on our house title or on the loan will she qualify as a first time home buyer?

Thanks in advance everyone! We are getting ready to purchase our first investment property in the fall and want to see what options we have. Thanks again!