All Forum Posts by: Michelle Herschend

I have one (Fremont) under contract but the remaining 5 are available.

Opportunity for turnkey rental portfolio.  5 properties occupied and income producing, 1 in final stages of remodel.  Small margin for improvements and increased rents.  Email [email protected] for more info.

@Dylan Whitcher as a female investor I’m a bit pickier on location because I don’t want to buy a property where I don’t feel safe going over there to work by myself or meet with tenants. However, I don’t think there are any parts of town where I don’t feel safe driving through. The majority of our crime issues are drug-related or domestic. You might hear about some local “gangs” but there aren’t any war zones here. Just some parts of town where poverty, drug use, and theft have taken hold.

@Dylan Whitcher Hi Dylan! I also live, invest, and sell real estate in Springfield. It’s a very solid market but I definitely agree with Matthew that there are certain pockets within the city that you would probably want to avoid. It’s sad because some of the most beautiful and unique homes in Springfield are also in the areas with the highest crime. I hope we can turn things around but it seems to be an uphill battle. That said, I have investor friends who make a great living investing in the rougher parts of town. You just have to decide if you’re willing to deal with the headaches that come with that.

I’m typically a flipper but I want to start adding rentals to my portfolio to play the long game. I bought a property with the intention to hold, but the market is just so good right now I’m tempted to take advantage and sell. I would not make nearly as much as I would on a typical flip, but it didn’t need much work. I will spare you the nitty gritty calculations (FYI I have already refinanced) and present you with the choices. What to do, what to do?!

1. Sell now: $12,000 + cash in hand after taxes

2. Sell and 1031: can put down payment on a new project (but is there anything better to buy than what I just let go? Probably not)

3. LTR (12k stays in): 140m/1680y. Will take 14 years to equal flip profits.

4. Month to month unfurnished without utilities: (12k stays in) 290/3480. 7 years to equal flip profits.

5. Month to month furnished w utilities (12k in plus 5k in furnishings = 17k in): 615/7380 (@20% vacancy) 4 years to equal flip profits.

Also to consider… I’ve never been a landlord and have not figured in property management.

@Adam Redhead

Hello and welcome!

I seem to be in the minority, but I think having your license is a plus when it comes to investing. I like having access to the MLS, my local board group for networking, easy access to tax data, etc. I don't have to worry about wasting another agents time gathering info and making offers. It has been beneficial for me!

I have a property that I think would make a good month to month or 3 month rental. We have a lot of people selling their homes and having a gap before finding a new one, hospitals with traveling nurses, and other factors which make this type of property desirable in our area.

My question is… how does it work?

1. Do you collect the entire months rent up front?

2. Do you include utilities?

3. How much notice should the tenant give if they want to stay longer than a month?

I haven’t been able to find much info on this “in-between” niche so any advice is appreciated!

@Allen Li

A 70k ARV house here would rent for like $500 🤪 Maybe rents are too low in my area for BRRRR to make sense.

@Anthony Espinal

If you aren’t particularly attached to the house you are in I would take advantage of the market and sell. Lie low and rent (or see if buyers will allow you to rent back your house) until you can find a property that would make a good house hack. A duplex that you can live in and rent out the other side, for example.

@Andrew Syrios

That’s a great point!