All Forum Posts by: Ryan Pritchard

@Travis Beck- I definitely think the MTR strategy could work very well here in Fresno. I would agree with a few other people that a large home isn’t exactly what nurses and other traveling professionals are looking for, but with that being said I can see how the MTR could still make a larger home like that cash flow. I live in Fresno so I’d be curious to know where this is at? Also to hear if you reviewed local furnished finder comps that align with your expected monthly income.

@Patrick Knapp- One question I have been wondering about is about the bidding stage of the project. Is it messed up to invite multiple contractors for the same trade to show up and bid a project at the same time? 

Pros: It would save my property manager time by lumping them together, I feel it would also ensure all my bases are covered having extra sets of eyes review it simultaneously, and could also yield possibly lower prices with them knowing there is other competition.

Cons: I worry this could anger contractors.

Thanks for offering your advice!

@Graham Storey- Hey Graham I am in the process of purchasing a duplex in West Raleigh and will be doing some rehab work as well. I'd love to hear how it went! 

@Johnathan Stroud Thanks for the recommendation, I have reached out to Watchmen for a quote. I saw some good things about them on past google reviews!

Hello Everyone and happy holidays!

I was looking to get a couple recommendations for property inspectors in Raleigh. I have a duplex under contract and am looking to schedule and inspection within the next week or so. Any recommendations would be greatly appreciated!

Thanks,
Ryan

Hi BP family!

I am under contract on a duplex in Raleigh and was hoping to get a few insurance recommendations for companies or brokers that you like to use. Thank you!

Ryan

Hello All,

I am under contract on a duplex in Raleigh and was looking for good property management recommendations! Thank you and happy holidays! 🎄

Ryan

@Chris Seveney- I plan to put the properties in an LLC for liability protection. People are incredibly litigious these days, insurance can only cover so much. I'd rather make sure that my personal assets are not touchable in the event of me being sued on a rental property.

@Aaron Byrne thanks for the insights. I agree, I definitely wasn't going to try to transfer the property without the go-ahead from the lender. After some more research thanks to other BP members, I watched some more youtube videos from Clint Coons and he dove into the Freddie/Fannie requirements for transferring the property to an LLC, and it seems like it won't be a problem (code 8406.4). I plan to speak with my bank tomorrow and see if that changes their minds.

Worst case is I would go down the land trust road, but I am still needing to research more into the tax implications of that move. But you got to love having options, right?

@Xiao Xiong- When looking at the map of Fresno, I generally look to buy east of highway 99, north of Belmont Ave. The southwest part of Fresno can be rough. Getting in Northern Fresno and Clovis is the ideal areas but CF isn't too great due to the rising prices.