All Forum Posts by: Peggy Borgman

We're in the midst of our first transaction, a triplex. It came via the MLS. Our realtor told us she had been looking for a comparable deal for another client for the past 6 months, to no avail. I think it was a bit of a fluke. However, the owner is 80, offloading all of his properties, and this is just the first. We seem to have connected with him personally and we're going to work hard to make sure we get first crack at other deals from him.

Thanks for sharing your experience, @MichaelBoyer. Do you have any advice for things to look for in the operation of a "good" HOA? I saw that some other members like @ChrisSeveney and @PeteZ joined the HOA boards of complexes in which they own units. At what point can a member of the public have access to/review HOA documents and financials? If I'm trying to figure out which complexes to target, I'd like to do that before I'm into DD on a transaction.

I know that condos don't appreciate as much as single family or multi-family properties, but I am doing analyses on condos in Reno, NV and the cash flow on a 20% down deal looks *much* better than other opportunities in the area, even with HOA factored in...I'm not sure why there is such aversion to condos in the investor community. Yes, there are downsides, but it's not as if owning multi family properties is a cakewalk.

Does anyone know a "rule of thumb" % difference in appreciation between condos and single or multi family properties? 

We've set up our LLC through LegalZoom. That said, I wouldn't consider LZ a substitute for the advice of my CPA (experienced in REI) or a real estate attorney. I'd love a referral for a good real estate attorney in the Reno area.

Thanks for reaching out, @Steven Duck! Did you relocate from California, too?

Thanks, @Tyisha G. Looking forward to following your adventures in RE as a fellow "newbie". 

Thanks, Michael! How long have you been doing what you do? Do you participate in any of the real estate investment Meetups? Looking forward to learning more about the area from the BP locals. 

My husband Mark and I are planning to relocate in spring 2016 to the Carson Valley, near Lake Tahoe. I recently sold a day spa in Silicon Valley that I operated for 30 years; I've also concluded 20 years of spa management consulting and am ready for a new industry (even though I'm shocked to discover that landlording does not include free facial treatments and pedicures.) 

My husband works in high tech sales but his real love is rehabbing property. I'm a writer and artist (painter of landscapes as well as walls.) We're joining the Bay Area diaspora in the Reno/Carson area. It's hard for me to believe I'm leaving the Monterey Bay Area after 38 years. As I write this El Nino is doing his best to wash us out of the Santa Cruz Mountains. 

Right now I'm learning all I can about buying and holding rental properties, as part of our retirement strategy. The plan is for me to be our day to day operations person. I love marketing as well as crunching numbers; we'd like to bring our passion for customer service to this endeavor as well. 

We've had one unpleasant long-distance investment/landlording experience but want to try again with a more educated and focused approach. We know that there is a ton that we don't know, especially since we're going to be trying this in a new area, as brand-new residents. (What could possibly go wrong?)

I'm excited to find this community and look forward to learning from you all!