All Forum Posts by: Sean Durham

Hey everyone - looking for insight here - 

Tenants in one of our units are asking to move their brick-and-mortar business into the garage space. They are solid, respectful and have been trustworthy, so we're inclined to make it work for them, but I'm wondering if there's any clauses or lease addenda we need to add to make sure we and the property are protected. 

They're looking to insulate the garage and put in drywall - my thoughts are to require that the garage door remains open-able and that nothing they do will result in a vehicle no longer fitting in the garage.

Figured I'd ask the community here if you've had any experience with this and if so - what are we missing here? Anything specific we should do/questions we should ask?

Thanks!!

@Ashley Williams It's going well! I know the area well enough from having gone to college here, so it's very neighborhood-by-neighborhood. I think the downtown area has the most upside for both rent stability (and future increases) as well as eventual appreciation. 

I'm sure you've seen the amount of investing going on downtown, with the Foodlab and the imperial hardware lofts, I think much will change in the next 18 months to make this area more attractive to young professionals, which is who we'd prefer to rent to. 

Where are you guys looking at? Exciting for sure

I haven't made it to any meetups around here yet, but I'd love to.

@Nathan Diones @Krystle Padilla Thank you! I'll be calling both Affordable Rentals and Inspire Real Estate today. Appreciate the help!

Hey everyone - hoping for some recommendation(s) on Property Management in 29 Palms/Yucca area.

We currently have 4 units under management with a company we have been struggling with, hoping the BP community might be able provide some recommendations on managers in the area. 

Thanks!

Hey @Jenine Civil I agree with everyone here pushing you towards a buy/hold property vs. STR in 29 Palms. We currently have a four unit there which cashflows nicely. Haven't looked at comps recently, but I'm guessing we've gained some appreciation already in the year that we've had it.

In our experience, military tenants have been great to work with - guaranteed income and typically very responsible with the units. 

Good luck - any questions please feel free to ask. 

Sorry for the late reply - we are currently house hacking a duplex in Downtown Riverside - any questions, feel free to ask.

Gotta recommend Nabil Suleiman again here. We’re currently househacking our second property, Nabil worked with us on both. Highly recommended, especially for first time buyer/investors. He’s also an investor in the area you’re looking in. Feel free to reach out with any other questions!

Echoing what most everyone here is saying - you can definitely use FHA for an owner-occupied duplex. We just did exactly that. You can actually use FHA for up to four units, but there are different rental income requirements for anything above two units. Find a different lender, for sure. And good luck!

Would absolutely look outside socal, or at least outside San Diego or in the far reaches of SD county. If you’re betting on appreciation, I think a small single family home (without an HOA) in Escondido is a far better play. You should look at being protected in case you have to or want to move - make sure you can rent your place out for an amount more than your mortgage. Look at resources like Zillow Zestimate or Rentometer.com to gauge what you can expect as far as rental income. Ultimately, weigh the numbers - it truly could make more sense to rent where you live and own out of state.

@Garrett Vita I would recommend @Nabil Suleiman - great agent, has helped us with two properties.