All Forum Posts by: Aaron Hall

Aloha,

You found bigger pockets and you are talking on the forums.  That's a great start.  

My advice to you is to look @ listings and then run the numbers for your market, sort of a test run the numbers.  You can even post about these tests and get perspective from other users.  What's your plan to finance the properties?

Go out and find more kama'aina to give you perspective like 

@Joe Sillaman  

Your market is truly like no other.

Aloha

What's your plan with the property? Traditional vacation rental or more AirBnb style?  Hands on or PM?

Welcome to BP.  Love seeing more Santa Rosa users.  I like your blog question.    I think that's a great way to get in front of customers.  

@Brandon Turner mentioned this site.

The Non Monetary Benefits of Blogging

Hope this helps.

I went to that house and saw the completed job before the sale closed.  It was nice to see the photos of the before.  What a change.

Let's just say - the person liked Trader Joes.  I'm suprised it wasn't filled with Walmart bags. 

@Orion Walker  I talked with my tax guy a few weeks ago.  He was saying they are not taking on new clients but I will see if he can recommend anyone else.

**** DANGER ****

Please note that I made an assumption.  The city was never stated by @Josh Little it maybe in another city.  Let wait 'til he gives us more information.

**** DANGER ****

@Josh Little 

I like @Dean Teter post.  This sounds a lot like Sebastopol or maybe Santa Rosa.  That could be a deal in either depending on details.  And you're right about rents in these two cities, there is an upward pressure on rents.  

Whats the size and condition of the home (besides the roof)? 

If the roof is questionable you can throw that out as a negotiation point.  Have you finished the inspections yet?

Remember all the money is made in the purchase.

As with most assets, your HML is a great source to know how to prepare. Take them to lunch and have hem teach you to be a good customer for them. This leads to slender who will excited to work with you.

As you know what to prepare for the HML you will be better prepared to make your deals happen.

Your hassle as a customer does effect current and future rates given by the HML.

One lunch can save you money. 

if the seller is serious on selling then I suggest you ask to ee the actaul number for as lons as they have owned the units.  Look for number that don't add up.  For example maintenance jumps through the roof one year.  What was it that caused it.  If they are serious then they should be willing to give you access.

Watch for renter problems.  How long are the current leases?

Ask the owner about the water.  See how they respond.  What does their response tell you about what else they have told you.

Some sellers expect you to take their "estimates".

WARNING don't fall into analysis paralyis but do your due diligence.

Remember the numbers are only part of the picture.  

This looks like a house hack - NICE.  Great way to get started.

- What effect does the loss o rent have on the overall picture?

- What has the vacany rate been in the past?

- What are the current renters? (Section 8, Transients, Long term families)

- Are the rents used in the calculations below/above/at current rents?  

These are just some of the questions I can think of off hand.

IMPORTANT

The money is made in the purchase of the property. 

- What the condition, will you have to invest money into fixing it?

- What have other 4 unit sold for in similar areas?

Hopefully This give you some more to consider as part of your analysis.