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All Forum Posts by: Sebastian Gast

Sebastian Gast has started 11 posts and replied 91 times.

Post: Mice problems

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19
I've had the exact same problem with tenants complaining about mice. I called a pest specialist once and all they recommend it to set traps, seal holes the mice can get into, and keep the place clean. Don't waste your money on a specialist for mice infestation. I would only call a pest specialist if a skunk gives birth to little skunk babies under the house or something.

Post: How "present" are remote investors?

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19

How often do people (mostly remote investors) do deals without ever physically visiting the property? What about doing light rehabbing? Or do you have "a guy" on the ground that you trust have a look at it first? Buying or rehabbing without ever really seeing seems risky and an easy way to get taken advantage of. It seems like a trip to the see the property is worth the time and cost of travel prior to dropping money on it. In what cases would doing a completely remote deal without physically seeing the property be ok and when would it not be ok? Any thoughts on this?

Post: New member from Indianapolis, IN

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19
Welcome to our community Yang! I've heard good things about the Indianapolis market which has one of the highest job growths right now... at least in the midwest. Can you share anything about the Indy market from a personal perspective and your thoughts on real estate in that area? I.e. affordability, rentability, appreciation, etc. Again, welcome!

Post: Giving back to tenants?

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19
I've given my tenants holiday gifts and thank you gift cards during times of inconvenience regarding house repairs and such. It is very well received. The bottom line is: happy tenants, happy landlord!

Post: Personal Finance and Investment Software (Quickbooks, etc)

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19
Mint.com is the king of doing this. It's easy to use comprehensive, secure, and has a good mobile app. Check is pretty good too (used to be called Pageonce). Curious to see if anybody uses any lesser known gems out there...

Post: multiplex investing

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19

I have asked myself this exact same question. I personally would want to buy and hold maybe with minor rehab. The multi's where I would want to live would likely be out of my price range to own.

While we're on the topic, I always thought that 2-4 unit and higher MFRs are something that only appeal to investors, so they are more difficult to sell should the time come we want to get rid of them... you can't open them up to the general population because people looking to buy a permanent resident don't want to buy an entire duplex. This means you cant price them as aggressively and flexibly as you could a SFR. Am I wrong in thinking this?

Thoughts? @Joel Owens

Post: New Investor from Southwest Colorado

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19

@Taylor Ripp

Welcome to Durango! I live here! (But moving probably early next year). Durango is a very tough place to invest with limited capital. The one thing you can count on is a VERY strong rental market, but with house prices that are extremely inflated in price due to the small tourist town and everything - the economics aren't strong. The only way I was able to tap into this market was to buy a mobile home as a rental here and it is a cashflow beast. The downside is that I'm getting negative appreciation out of it and it will be tough to sell. I have plenty more thoughts about the town, looks like we have some chatting to do.

I'm 27 and I'm in a similar position as you. Let's get together for a beer! Feel free to contact me.

Post: Semi-New Member in Houston

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19

Thanks guys! @Cuong Le , I love how specific your goals are and you are well on your way there! Big props. I am outlining exactly my financial goals similar to how you have done. I am in the process of relocating to Houston now. What REI club did you join there?

@Mehran Kamari thanks for the warm welcome! Keep it real out in SoCal.

Post: long distance managing

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19
I think it depends on the type of property. Low income, older property will be pretty needy. It will suck up your time and life and to me it's not worth it. If you have a newer rental with reputable tenants, you may try without PM. One of the biggest benefits of a PM for me is leasing. It was amazing how much time it took out of my day to go to the property to show it, schedule appointments, call people back, etc. Bottom line is, I'd try it without a PM first... you can always get one later.

Post: Semi-New Member in Houston

Sebastian GastPosted
  • Investor
  • Denver, CO
  • Posts 99
  • Votes 19

Hi colleagues,

I am in the midst of making my move from beautiful Durango CO to Houston TX (a scenery downgrade but an investment hotbed!). I have two co-owned rental properties - a mobile home in Durango and a single family rental in Houston. I love talking about real estate and I believe that real estate is a great way to financial independence.

I feel like I have been holding back for a few years when it comes to real estate investing although I have studied it and learned about it equally as long. My goal by getting immersed into this community is to breakthrough my hesitation, put my money where my mouth is, and start closing deals. I look forward to learning and networking from all of you.