All Forum Posts by: Simon Ashbaugh

 Agreed.  We're located 1/2 mile from Nationwide Children's Hospital so all the more curiosity on how people are faring in the furnished MTR space.  We're currently only on AirBnb and Vrbo but seriously considering longer stays to get more occupancy.

Hi Shyd - Just curious if you ended up doing the MTR in Columbus?  Currently wondering the same and would love to see how that went if you took the plunge. 

Hey everyone!

At the moment, I live for free at my moms house after I finished college. She said I can live there as long as needed until I get my first property. I'm in an electrical apprenticeship program and will be done in 4 more years of working full time. My pay substantially goes up each year until I am done with the program. I wanted to house hack and buy a duplex or triplex and force appreciation by improving the property while living there. 

My problem right now is a lack of capital. I am saving about $350-$400 per week which is 80-90% of my paycheck. I wanted to house hack but because I would get an FHA due to low capital, I would have to live in the property and it would most likely negatively cashflow a small amount. If I continued to live at my moms house, I would keep living for free.

Would I be better off saving up 20-25% to put down on an Investment property that would cashflow or owner occupy a FHA property so I could get started now with the money I have even though the property may not cashflow.

Currently have about 10k saved up and are pre approved for an FHA loan under 200K

All input is welcome, thank you all!

Hi,

I am looking for my next investment. I have a few SFHs in Bay Area but now looking to invest somewhere else. Some more details below

Goals: Medium term appreciation (10 year horizon) with minimal or some cashflow to keep in case of some emergency repairs etc.

Type of property: Single Family or Smaller Multi Family

Type of rental: Long Term but open to Short Term rental too (if the area has companies that can manage the AirBnB. Cannot do this myself)

Investment size: Not sure yet but looking to invest $300K from my side

Currently looking at Atlanta but not sure if it is the best. I understand the above criteria is still pretty wide to give pointed results but if you are invested in any such areas with similar goals, please recommend.

I came across a real estate agent that I meetup with in person and wants me sign a "Exclusive right to represent buyer for residential property". I told her that I do work with other agents. As a new investor should I sign it or not. Yes or No, why and please advise.

What would you do to avoid a negative cash flow?

I m planning to buy my first rental investment property in north TX and need to get a loan.

What are the strategies you would suggest to avoid negative cash flow?

I m thinking of following

1. find a smaller house in the same area, like 2 bed 2 bath around 1200 sq feet?

2. move to area that are suburb like Sherman and has cheaper properties compare to Frisco TX. I can find properties around my budget 350k but do I have a lower vacancy rate?

3. Find older houses. I found a house built in 1979 in Allen TX, I am not looking for rehab and not a guy to fix things even in my own house. So not sure of this 

4. What would you suggest?

Hi everyone! I'm 26 years old my wife is 29. We have been travel nursing for the last 2 years and have a pretty great cash pile to get started in RE. We were planning on traveling longer, BUT, just found out we're expecting!! Odds are we will need to reel in our wander lust and settle back down where it all started in Akron, OH. This also means we'll be taking huge pay cuts. 

My main goal for us is to find a 2-4 unit (preferably turnkey) and live in one side for a year or so before refinancing and scaling. An issue I am running into in my market though is high listing prices and lower rents not meeting the 1% rule. Those that do meet the 1% rule are value adds that will need more work than I can put in right now. I almost bought one for $220k but realized that particular neighborhood was saturated with vacant units up for rent WAY below what I would need to cash flow (even after rehab). 

I found another more updated duplex in a great area. It is listed for $285,000 and one side is already renting for $1,100 until 2024. Newly renovated; turnkey, double garages etc. If we live on one side we will still be paying $835/mo plus utilities! This seems like a lot for house hacking? Is the asking price outrageous, is the rent too low, or are these situations the new normal??

Thanks!

Cliffs:

-Travel nurses; lots of cash

-Found out we're pregnant! Gotta settle down

-Househacking seems like the best move. Place to live + offset mortgage.

-Having trouble finding properties near me that cash flow/offset mortgage. i.e. still paying 1/2 PITI

-Am I finding bad deals or am I being too picky?