All Forum Posts by: Nicholas Coulter

Havent gone through it personally but that sounds like a nightmare! You think the tenant would be up for a cash for keys?

We STR in north park and the property does very well as a 4-2. We sleep 10 with 2 rooms each having 2 full beds. Average for the 2 past years is roughly 9k monthly income. Pre expenses and mortgage

@May Mirzaei have you considered a Househack? Typically I suggest that strategy with new investors. 

@Ian Duffy I can refer some contacts for loan options. We are currently in the process of converting our garage to an ADU. We Currently STR our Main home and live in the JR adu so the goal is to really supercharge the ROI.

Do you have a CPA that you are currently using that is both Small business and REI friendly?

I love ours but in San Diego the hard water took out our first unit. I would make sure you are flushing the unit at least once a year for maintenance. If possible a water softener would be ideal.

@David Vu have you explored the sub to community? If you are looking for no money down deals thats where I would start. If you want little money in and starting earning I would consider trying to find distressed properties for flippers and deliver them through wholesale. You can collect a finders fee. 

I would reach out to an Agent in that area that also invests themselves. 

With OOS state investing you should be aware of the relationships and Team you will need to have out there. A great investing agent knows those people and will have a goal of you making money so you come back to buy more. 

 I’d follow Nathan’s advice. Throw in a vanity and put up a mirror. Dry wall finishes with the right paint to hold up with the humidify of a bathroom 

i dont see them going below 5%. In all honesty with the 5% down difference it depends on where it goes. I think of it this way. 10% down gets you 3% more in concessions. That extra 5% isnt gone, just in a deeper equity position. Based on your PP the difference you would get investing that 5% wouldnt add to more than the extra 3% of pp you get. If you can double or triple the 7k in a year why invest anything in a DP? Guessing thats the hopeful return not the guaranteed return of this deal.