All Forum Posts by: John Ma

Hey guys, 

I'm wondering if anyone has experienced an area where the rental price is pretty stagnant or grows slower than  2% per year based on comps?

@brian olson 

@Brian Olson

I too live in NoVA.  My properties are in Norfolk, which isn't too far away.  I agree that there are plenty of opportunities near by rather than out mid west.  There are so many deals out there, i don't know how people sleep. 

And i find Craigslist to be the best indicator for comps.

Sorry for bringing this thread back from the grave.

I'm curious, what was Carlton Sheet's program or system?   Perhaps I'm just too young to have remembered his infomercials, but I just heard of this name recently from a discussion that wasn't real estate related.   Someone mentioned a some what wealthy neighbor back in the days who was involved in real estate.  He later realized he was in the Carlton Sheet's infomercial as a testimonial.   

I've never really paid much attention to "get rich quick" infomercials in the past, however perhaps I shouldn't be so one-sided before even looking at the product and judging by the hard selling.

@Curt Davis  I think every consumer is going to have a different opinion, however with the TK offering that, it does add a little bit of assurace knowing the TK provider isn't jut selling a product and leaving. It shows they are behind their product, even though we both know the TK is still involved in the cycle after the client owns the property regardless if thats offered or not. So yes, i would say it makes make the deal appear to have more value.

@Curt Davis I have toured some properties with a TK company that offers guaranty rent, and home warranty on full rehab, with majority of properties being 60k-100k.  

The specific one I toured, rehabbed the property completely- roof, walls, plumbing, electrical, floors, bathrooms, and kitchen. They have their own construction guys that do the work. I've seen the craftsmanship. They are decent- Somewhere between just a hit rough around the edges and a perfect craftsman job. 

As you can guess based on the TK sale price, some of the houses are being bought around 30k and under in a "developing" area, however they guaranty tenants, whom they screen and manage.

Hope this helps in your research Curt.

@willams Collins

it was not a vacation home. It was my "primary residence" for the couple  of years I lived in it. 

I did have repeated  guests every once in a while and would perform transactions outside of airbnb.

@Weis Sherdel I was in contact with a turn key company whom is the largest cash buyer of houses in Philly last weekend. He showed me around and we talked about where there was gentrification and squeezes happening, and the quality of the products they are out putting. 

I can tell you I'm in the process of signing a contract with them right now.

 i just moved to the Wash DC area, lets connect and perhaps i can tell you more.

I've met people from the Fortune Builders program. The biggest difference between me and them? I have properties, they don't.  Okay, that was a little bit harsh.

I can tell they teach a lot of good practical knowledge, however the biggest pitfall i see is its a cookie cutter program teaching you how to find houses to buy and flip or rent out.  The program would prob work in 90% of the areas out there, however when it comes to living in a major metropolitan area where the cost of the land is way over inflated anywhere like in the DC area, you have thousands of people trying to hunt of these deals that just simply don't exist.  Now if you were to try the same method just 30 min north of DC in Baltimore, that would be a different story. There are neighborhoods that need redevelopment and have the potential for improvement and profit for the investors.

I started using AirBNB a few years ago.  I'm pretty confident to say my my offering as had most number of guests in the metropolitain area.   

Here is my take on it- I feel like it is something transitory. the rules around it were very relaxed in the beginning, but now yo ucan see as it gains popularity, the govt wants to be involved in what you can/can't do. Its hard to say where it is going in the future.

I would look at it as utilizing AirBnB as another tool for your vacation rental, in addition to what other methods of vacation home renting you may have.

However, anything is possible if you make the numbers work!

@Jon S. 

I currently live in the Washington DC area (expensive like LA), yet my properties are in a different metropolitan area (roughly 200 miles away).   Whether if its a good choice or bad choice is completely up to you and what you want to do as an investor, but if you're just simply wondering if this is something that other investors do- Absolutely! 

Don't limit yourself!  Just remember, there are investors from foreign countries that own rental properties in the US and have never seen their product.