All Forum Posts by: Ryan Fox

I have a rental in that area.  It rented out fast, good area.  
Less expensive than Newport Beach lol.

@Brian Adams- Yes, that would be helpful.

Even if you get past the zoning and permitting issues, anyone who buys the property from you will have to use commercial financing.  This will probably be a detractor.  

It's just slow this time of year to rent out units, but you picked out a good zip code.  Renters look for a garage, basement, and being away from busy streets.  I have 5 in Independence. 

@Matthew Metros- It's better to dig in to the actual numbers and see if it comes out to 50% or if it comes to 30-35%.  If you're looking in one market, it will be easier because you'll find that insurance and property taxes should be about the same as a percentage of property value.  

Some properties have separately-metered utilities where the tenants all cover their own utilities.  Other properties don't have all the utilities separately metered, and you either pay the utility yourself or pay it yourself and charge it back to the tenants.  Water is usually the utility that is not separately metered. 

Make sure to calculate how much property taxes will be after you buy.  Marketing packages usually have current property taxes, which of course will go up after you buy.  

@Alex Ficco- I use agents and wholesalers.  Last year, I bought one deal from a hubzu auction.  

I'm in Washoe County, but all my work is in Kansas City, MO.  Year to date, I've done one flip and two value-add single family rentals.  Looking to add one more rental by year's end.  

It seems like everyone bashes investments in stocks and bonds on this website.  However, a stock and bond portfolio can be used as collateral for a loan to purchase real estate.  If you choose the right stock brokerage, they will lend you up to 66% of your stock / bond value at interest rates around 2.1%, interest only, unlimited term.  You can lock in rates of 2.49% for a seven year term (again interest only).  Did I mention this is non-recourse?  And you don't need to use one of those expensive stock brokers who charge 1% of your investments per year to manage your stocks / bonds.                                                                                            

@Zachary Bellinghausen- If you decide to do the cash-out refi's, I know a lender who could help with that.  Feel free to PM me.  I'm surprised your lender won't lend at all due to COVID.  

@Lynnette E.- That's an interesting setup.  My colleague's family is too dysfunctional for something like this to work, unfortunately.