All Forum Posts by: Matthew McNeil

Three cities west of Boise which are all relatively connected. Specifically, Meridian, Nampa and Caldwell. Family friendly, high appreciation, landlord friendly, and targeted for significant growth. I've done very well in Meridian with SFHs. Nampa is the next area with Caldwell on its heels.

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If you decide to go the LLC option for Asset Protection then you need to transfer everything into the name of the LLC; bank account, lease agreements, insurance (put your name as "additionally insured"), county tax records (done by Quitclaim), etc. Nothing can be in your name, and you sign everything including checks as; your name, managing member, XYZ LLC.

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You might try reaching out to @Marc Ramsay at Majura Investments Ltd. He has a solid Agreement that he uses.

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In a nutshell;

Have enough in reserves to handle a worst cast scenario.

Pay down the debt to get to at least 70% LTV.

Then...

Invest in another property.

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Originally posted by @Danielle Wolter:

Price seems about right to me. I have a tiny 1 bedroom 500 sqft. condo a couple blocks north of North Park that rents for $1700. I have never had more than a week of vacancy there.

If you don't mind me asking; how much did you pay for your condo?

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Originally posted by @Sean McDonnell:

They need to start calling this strategy "Shed Hacking".

You've coined a new REI strategy!

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Originally posted by @Damaso Bautista:

@Matthew McNeil

With such a draw for people to live, work and visit So. Cal, it makes a lot of sense for having an ADU or small liviable space in your back yard. Rents are ridiculous right now. Especially where I own my homes. Financially it makes sense and with laws regarding this type of accessory dwelling being less restrictive now it really makes sense.

The debate is not regarding the numbers, for many people including my wife it comes down to sharing your personal space (backyard, driveway) basically playing nice in the sand box with someone else for the extra income.

At least that is the debate in my house.

I know the reason why I have been able to stay married for 25 years is because big decisions are always discussed with my better half and nothing is forced.

My take on it.

Well put. I've been married 28 years and a happy wife makes for a happy life as the saying goes. But.... sharing your backyard is a bit encroaching on personal space, as you put it. I think my wife might be willing though if we could get that kind of rent for a shed!

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Originally posted by @Justin R.:

@Matthew McNeil Small world. I just rented a 180sf former single car garage (it has a bathroom and small kitchen) 1 block south of this "shed" on the same street to someone for $1300/m. It's bonkers to people who have been around a while, but it's real.

Justin, I agree. My portfolio is in Idaho - Boise and renting a shed for $1000 is bonkers, but California has been known to come up with innovative ideas!

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Hi Vibhu. I just posted this question 3 days ago. Here's the link with several comments that may answer your questions;

https://www.biggerpockets.com/...

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I’m investing in the WRONG asset class if people are paying $1000 rent to live in a shed!

Copied from news article; "Maybe it is high for what it is offered at, but the reality is that the square footage and the location is exactly what this market needs," Alan N., director of research at the Xpera group, reported.

https://www.10news.com/news/lo...

https://www.zumper.com/apartme...

2 Votes

All Forum Posts by: Matthew McNeil

Matthew McNeil has started 31 posts and replied 686 times.

Post: Where to move in the US for investing for the beginner

Post: LLC and CPA needed?

Post: Seeking advice on structuring partnership agreement

Post: What are you doing with rental income?

Post: San Diego backyard shed for $1,050 a month!

Post: San Diego backyard shed for $1,050 a month!

Post: San Diego backyard shed for $1,050 a month!

Post: San Diego backyard shed for $1,050 a month!

Post: To add property manager in your insurance or not?

Post: San Diego backyard shed for $1,050 a month!