All Forum Posts by: Ryan Rock

I took the plunge a few days ago. I bought a 4bed/2 bath 1822sf sfh with 2 car garage 1/4 mile from the beach, zoned light commercial. Paid 260k. Outright permitted uses in this zone include mf and STR. My plan is to add 2 bathrooms and a second kitchen. I'll live in one 900sf unit with a new kitchen. 3 units will each have their own bath but share one large kitchen.
I hope I can average $30/night per unit year round. 12% city str tax, property tax about 1%. Maybe something like 2000/month net. 

There is a bid for new windows, roof and siding for 95k. I think I'll do the windows myself, repair the 15yo roof in spots, replace some of the siding and paint it. I hope to be all done for about 50k. With the inevitable cost overruns it would be fine if it went to 75. Nevertheless I'll pinch those pennies where I can.

One nice thing is Oregon has no sales tax. I've got a new corvette on order so that will save me $6000 vs California. 

As for the rainy winters, maybe I'll  RV it in Mexico or Arizona.

I'm looking for a project manager or contractor in Reno. I am looking for bids on rehab of an apartment building. Let me know if you are interested.

OK now I'm more confused, especially considering your second sentence. Having the names of the institutions of higher learning is great, but what about specific neighborhoods or areas where students will rent?

For example, I've learned that in Lubbock, Texas Tech students prefer the quadrilateral bordered by highways 82 and 84, 34th street and Quaker Avenue. 

 Ventura and Oxnard are great. I looked at a place in the Channel Islands a couple years back, but bought a condo in downtown San Diego instead. It seems to me that San Diego is the best bang for your buck in terms of being close to the beach all the way from TJ to Bodega Bay. I'd rather live in a high rise studio in downtown San Diego as opposed to a townhouse 3 miles inland in Ventura. The dog you see in the picture is the extent of my family, so a small place works for us, haha.

What could I use as an estimate of costs to rehab individual apartments that are 500sf each? This is a wood construction building. Wiring and plumbing is already roughed in. New windows already placed. Ceilings are good.

Needed items: insulation, drywall, kitchen and bathroom cabinets and counters, toilets, sink, shower stall, finish electrical, fixtures, appliances, flooring, interior paint. 

This is happening in Reno. 

I'm looking at a 6 unit mf in Reno. I can swing the purchase price but might not be able to pay for light to medium needed rehab. 

Can I ask here if someone is interested in putting in sweat equity to own a stake in it? 

I'm also open to someone who would like to invest, although i will be the biggest investor. 

If this is not allowed please delete.

 I was fudging on the Tahoe part, for the benefit of the out of the area flatlanders and unwashed masses. It was actually in Pollock Pines, 1/2 way between Sacramento and Tahoe. 4000 feet elevation, plenty of snow. All of the bad parts of Tahoe with very little of the good, haha.