All Forum Posts by: Noam Birnbaum

Hi folks,

I'm a new investor ready to get out of analysis paralysis and take the plunge. I've selected Rochester, NY as my target market. I'm planning to purchase between 1 to 3 multi-family properties there over the next 18 months, using conventional financing, to buy and hold.

I've been running my own consulting firm for over two decades, so I'm not worried about my ability to manage an operation. What I do need help with, since I live in California, is building my Rochester network! I'm interested in forming relationships with other investors, realtors, property managers, lenders, and others who know the Rochester region and will be able to wait until the Zoom call ends before laughing at my newbie mistakes.

Got any suggestions whom I should contact?

Many thanks!

Hi folks,

I'm planning to purchase properties out of state, and plan to form an LLC to hold them. I might purchase properties in multiple states. I have some questions:

• 1. Does it matter whether I form the LLC in my home state, or in the state(s) where I will be purchasing property?
• 2. If it doesn't matter in which state I form the LLC, should I form it in a state that has the most favorable tax codes, even if that's neither my home state nor a state in which I'm going to purchase property?
• 3. Will the LLC need to pay taxes in the state where it's formed; in my home state; in the state(s) where I own property; or any or all of the above??

Thanks!

Hello folks,

I'm considering putting a space on the market as a vacation rental. How can I estimate the annual revenue it'll earn?

I've looked at similar local listings, so I have a general idea of nightly pricing. The main thing I'm trying to figure out is how to determine the occupancy rate.

Thanks!

Hi folks,

I have a property in Orinda, CA that I’d like to convert to a vacation rental. It’s furnished and practically ready to go. It's a 6-bedroom with a pool. Seeking vacation rental managers. Please PM me!

Thanks,

Noam

Hi everyone! I'm seeking agents to manage a new Airbnb property I'm planning to list in Orinda, CA.

Hi everybody,

Thanks for making this such a great community. I'm looking at an income property which I could potentially purchase for all-cash. However, I would much rather finance it for a higher CoC return.

The problem is, I'm currently in the middle of a divorce, so I doubt I would qualify for a conventional mortgage.

What kind of lenders would you recommend I seek out who might not care about the divorce?

What kind of interest rates am I likely looking at if I pursue an unconventional mortgage?

If I purchase the property using an unconventional mortgage, what are my options for converting that later into a conventional loan at a better interest rate?

Many thanks!

-N

Hi folks,

I own an existing property in the Bay Area that has a large backyard -- large enough to build an additional rental unit. I've inquired briefly of a couple local contractors and have received ballpark construction estimates of between $300,000 - $400,000 for a 1 to 2 bedroom dwelling built from scratch. I imagine it would take 10 to 15 years to recoup this investment, which doesn't seem worth it to me.

I'm wondering what other options are feasible, such as purchasing existing construction plans, building a pre-fab, or anything else I'm not thinking of, to decrease the cost and time-to-break-even.

Thanks!