All Forum Posts by: Michelle Jarreau

@AnthonyRodriquez we hadn't considered  airbnb! Its a short drive to both disney and knotts, so we will check into it. 

Our current tenants are exactly as you described. 

Loving BP and blown away by all the wisdom here! My husband and I became landlords without  becoming investors (by buying new homes, and renting out the others). Code name: we knew nothing.  We are now trying to turn this around and become more savvy investors!  Loving the potential for greater retuens/cashflow out of state... and hating how little our return was on these. 

Here are the stats... cash out/1031/heloc/rehab/other?  

#1:  value: 360-390K, owe 160K. Rents (below market) for 1750/mo. Long-term tenants (9yrs)... Market rent around 1950, up to 2150 w improvements. Zero maint/repairs for 2017... low maint tenants, built 2002. 

#2: value 450-460K, owe 300K. fairly upgraded "Executive rental" rents for 2400. (Very High end of market).  Before maint/repairs (currently turnkey) and assuming zero vacancy, a LOSS of $500/mo. Excellent schools, well appreciating area. 

#3: newly inherited 1970 OC home. Value 650-700K. No mortgage,  rents for 2450. Constant stream of repairs, and not local, so $$$ (and poor) property management.  Since its newly inherited, no tax implications to 'cash out' and sell. Might have potential as a flip home, as most is original 1970. 

Would love opinions! 

@JohnWarren what leads you to choose your Market? Familiarity, avoiding out-of-state investing, market conditions, or another strategy? Curious mind, here...

That' a popular strategy! What seats you toward multi-family (as opposed to sfr?) Loving learning Every. Single. Thing I can from the pros! 

Just for fun... If you could cash out everything you own and make liquid a million dollars to invest in real estate- anywhere- what would do, where would you go, and why? 

The rules... you NEED to cash flow 2K/3K a month. Anything else goes... as long as it's legal, and real estate related. ;)

Excited to hear what everyone comes up with! 

Thank you, everyone foe your responses. I'm literally blown away at the podcast, info, and how responsive this group is. 

Hubby and I are geeking out listening to one now! 

I'm a newbie, from southern California. We are in our 40s with 1 headed to college, and 3 little ones at home. Like most everyone here, we are looking for early rerirement, and the chance to spend more time with our kiddos. My husband and I currently own 2 rental properties (both poor investments, ha... they were homes we moved out of and just didn't let go of). So, we are accidental investors, I suppose. 

We'e recently inherited a 3rd... the more we read/study/learn, the more we realize these are not working for us, and we are excited to turn that around!

We are especially excited about out-of-state investing and networking... flipping feels unrealistic in our market, but always open to try! 

Excited to continue learning from all of you!